BBVA Compass is to adopt the SEI Wealth Platform, a fully-integrated, single-infrastructure wealth management solution developed to support client relationship management.
“We are excited to join BBVA Compass on this next step of their growth journey, providing a unified solution that will improve efficiency and create the scale they are looking for,” says Al Chiaradonna (pictured), Senior Vice President of Private Banking at SEI. “Like most industries, wealth management is changing, which requires firms to adapt. We are seeing a growing number of institutions recognize the value of upgrading their technology infrastructure, and we are proud to be one of the only industry partners that can provide a truly modern, web-based solution.”
BBVA Compass will take advantage of the Platform’s workflow automation and multi-currency applications that will help enable domestic and global growth. The firm will migrate their existing book of business currently on SEI’s legacy platform, TRUST 3000, to the SEI Wealth Platform.
“BBVA Compass is undergoing a digital transformation so that we can create amazing experiences for our clients and the employees who serve them, and providing digital solutions that improve their lives is important to us,” says Maria Holmes, BBVA Compass Head of Asset Management. “We believe SEI’s state-of-the-art technology and years of experience in client relationship management will support our transformation and long-term goals.”
The SEI Wealth Platform has gained significant market momentum since its 2013 US launch. Of the 22 clients that have signed on to adopt the Platform, 13 private banking firms have already installed, and another nine clients are in various stages of implementation.