The latest technology news in the wealth management sector from around the world.

Salesforce, BNY Mellon
Salesforce, the US client relationship management group, has collaborated with BNY Mellon’s Pershing X, a startup technology unit within BNY Mellon | Pershing, to build two new client onboarding and engagement apps.

The apps are designed for wealth management clients, Salesforce said in a statement yesterday. 

When available, the apps will integrate Pershing X’s wealth management platform, Wove, with the Salesforce Platform. It will be available through AppExchange for Salesforce customers using Financial Services Cloud, Sales Cloud, and Service Cloud. 

The firms said such apps are necessary at a time when, according, to Salesforce, 61 per cent of customers prefer to manage their investments digitally. In the past year alone, 34 per cent have switched wealth managers for digital experience and empathetic service. 

“Many wealth management firms struggle with disjointed legacy systems,” Michelle Feinstein, general manager of wealth and asset management, Salesforce, said. 

“We launched Pershing X’s new Wove wealth management platform with one key goal in mind: simplify and revolutionize how financial advisors do their work, so they have more time to dedicate to helping more clients. This powerful collaboration with Salesforce helps us achieve this goal by advancing the client onboarding and engagement experience for advisors,” Ainslie Simmonds, president, Pershing X, said.