Skience, a digital enablement solution and consulting provider, has launched a new Data Consolidation and Replication capability for wealth management firms.
This new offering empowers wealth management firms to successfully execute digital transformation initiatives that drive new growth opportunities, improve digital experiences and maximise operational and cost efficiencies.
The new Data Consolidation and Replication solution enables user access to a wide array of client account information, providing firms a 360-degree view of their clients and allowing them to leverage this data to provide advisors and clients an unparalleled digital experience, while enabling firms to accelerate their digital transformation initiatives.
Marc Butler, Skience’s COO and President, says: “Today’s wealth management firms have relationships with multiple providers, all of which have client data that could be leveraged to further unlock new opportunities. Proper data management is foundational to executing on a true digital transformation strategy. While it’s common for firms to use outside providers for their data management needs, vendors are often limited in what they can deliver. Our Data Consolidation and Replication solution helps to solve this pain point, delivering comprehensive, highly customisable enterprise data management capabilities.”
The Data Consolidation and Replication solution automatically gathers client account data from firms’ clearing and custodial partners and industry utilities and feeds them into a centralised, cloud-based data repository. Firms also have the option of using the Skience Query Tool – a newly introduced feature of the solution that allows business and technical users to easily query their data from Skience’s intuitive user interface.
Due to Skience’s deep experience in the Salesforce ecosystem, the Data Consolidation and Replication solution also enables wealth management firms to seamlessly feed consolidated data into Salesforce Financial Services Cloud (FSC), without having to spend significant time or resources on custom software and integrations. If a client firm does not use FSC, the solution can integrate with other client systems.