BNP Paribas Wealth Management picks InvestCloud to boost onboarding
European private bank BNP Paribas Wealth Management has selected Los Angeles-based fintech InvestCloud to provide Client Relationship Management (CRM) and Client Lifecycle Management (CLM) services.
InvestCloud claims to have more than 700 direct clients
The bank will use InvestCloud’s solutions for onboarding and managing high-net-worth client relationships.
BNP Paribas Wealth Management has presence across Europe, Asia and the United States and supports a client base of private investors.
As of March 2021, the bank had €402 billion in assets under management.
InvestCloud specialises in digital platforms for the development of financial solutions which it pre-integrates into the cloud.
The firm claims to support over $4 trillion of assets for more than 700 direct clients.
InvestCloud says its “modular architecture” will allow for easy integration to bring “operational efficiency” to the bank’s onboarding and relationship management processes to improve client retention and growth.
The company also secured a deal with Mitsubishi UFJ Morgan Stanley Securities (MUMSS) earlier this year to deploy its wealth management platform.
MUMSS is the wealth management, global markets and investment banking arm of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank and the world’s fourth largest bank by total assets.
