novobanco launches bespoke advisory platform with Objectway

Objectway, an Italy-based wealth, banking and asset management software provider, has implemented its Investment Advice solution at novobanco, one of the largest banks in Portugal.

novobanco launches bespoke advisory platform with Objectway

The bank manages over €20 billion of assets and has a network of over 300 advisors in the affluent and upper affluent segments. It was looking for a technology partner to support the launch of a bespoke advisory platform to service investors with a minimum investment of €10,000.

“Using Objectway’s Investment Advice solution, novobanco now has the capabilities of a centralised and structured investment tool that standardises the creation of personalised proposals based on risk optimised model portfolios, provides proactive, real-time bulk monitoring against client mandates and implements algorithmic optimisation and rebalancing,” the vendor says.

“The bank is now able to provide a holistic view of a client’s total wealth, whilst aligning the investor’s risk profile and goals with the bank’s investment strategies and governance, in compliance with MiFID II regulation, thus creating a hybrid service where the solution and the advisors work together to create a suitable personalised proposal.”

Objectway says it delivered the project using an incremental release plan adhering to agile principles.

The solution is hosted in the cloud and delivered as Software-as-a-Service (SaaS), integrated with the bank’s existing security and data layers.

Alexandra Tostões, head of advisory service at novobanco, describes the work with Objectway as “extremely collaborative and productive” and says further enhancements to be introduced to the platform are ESG regulations, a multi-goal approach and direct advisory.