Regions Bank in wealthtech overhaul with SEI
US-based Regions Bank has gone live with the SEI Wealth Platform, following an 18-month transition of its private wealth, asset management and institutional services businesses to the new platform.
SEI says its platform was selected as “it provides a unified solution that is fully-integrated across the advisor and client experience, including front office, trust accounting and securities processing services – all within a single infrastructure”.
SEI Wealth Platform is underpinned by the TCS Bancs solution from India-based banking tech vendor TCS Financial Solutions.
Bill Ritter, senior EVP and head of Regions’ wealth management group, says the bank can now offer its clients “a personalised and streamlined online experience” while “increasing the bank’s operational efficiencies”.
SEI says its platform “has gained significant market momentum” since its 2013 launch in the US – with 12 private banking firms already live on the platform and another seven in the implementation mode.