Ludovic Balacé, Head of Presales and Marketing at New Access, explains why his firm has set high standards and continues to push forward.
For the past 20 years, New Access has been servicing disruptive and innovative solutions to more than 60 clients around the world. But most importantly, it is a Swiss roots company providing agile and scalable core-to-digital solutions dedicated to the private banking and wealth management industries.
What sets you apart from your peers this year and why?
The trend we have witnessed for the past 10 years and its acceleration during Covid brought our solutions even more into the light. We started a few years ago to work on the digitisation of the Banking and Wealth Management processes and we have invested in that direction ever since.
As part of our core-to-digital solution suite, we believe our Client Lifecycle Management Digital Platform - Banker’s Front solution - to be key for the relationship managers. Its centralised banking cockpit offering a 360° view and allowing the clients to always be at the centre of the solution stands out from the other players in the software industry and is, for the second year in a row, recognised as most innovative client solution on the market.
What are we going to do to stay on the front foot in a fast-growing but also challenging region such as this?
We will continue to do what we have been doing for the past 20 years: invest in the key areas where our clients expect us to help them (digitisation, Artificial Intelligence...) while maintaining the highest possible level of services. Sustainable innovation is key here, which means focusing on the relevant developments while staying on the course keeping our trajectory.
How have your colleagues contributed towards the success of your organisation?
New Access rely on more than 200 collaborators across the world that have showed an extraordinary resilience to the context changes. It is true for the whole software industry, but it is always more complex to handle a digital or core transformation without being onsite with our clients.
Our CEO, Vincent Jeunet, has really kept us together when he joined New Access early 2021. We are all looking in the same direction with a common goal, ready to improve ourselves and deliver the best services to our clients.
What are the prospects for wealth management in the future?
It is clear that the digitisation trend that started a few years ago is only going to intensify. If the market only expected software to be digitized, it is now expecting processes and workflows to follow that path.
This trend is really key to understand the future of wealth management as it directly impacts the way Private Banks and Wealth Managers will interact, not only with their clients but also internally, within the bank.
Firstly, from a client relationship point of view, we expect the private banks and wealth management industries to have a need for more proximity with the end-user. The client base is going to be younger and will require to access the bank by itself, anytime and anywhere.
Secondly, companies are going to digitize their internal processes, to avoid emails, shared folders, papers, etc. and ultimately replace those by digital workflows. They also are going to require decision support systems through client targeting (Data Analysis) or asset/portfolio management guidance (investment suggestions, buy/sell signals).
To conclude and illustrate this upcoming trend: by digitising the private banks and wealth management systems, software providers such as New Access built what could be the “house foundations”; we are now building the “house” by bringing intelligence to those systems.
What do you hope will be the result of receiving this accolade?
An award, especially from a respected actor such as WealthBriefing, is for us a true recognition of the work we have done, spreading the word that we deliver high quality solutions.
Focusing on this particular accolade 'Most Innovative Client Solution', it also tells us that we are going in the right direction, and we must keep this momentum going.