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OAKS, PA--(Marketwired - Mar 28, 2016) - SEI (
The Platform is an integrated solution that supports all stages of client relationship management including front-, middle- and back-office processing services. It is designed to allow wealth management firms to focus on clients' goals and strategic objectives while navigating a challenging regulatory environment and ongoing risk-management needs.
Regions is adopting the Platform to support its growing wealth management business, specifically the bank's private client and institutional businesses. Regions selected the Platform because it will provide a unified solution that is fully integrated across the advisor and client experience, including front-office, trust-accounting and securities-processing services, all within a single infrastructure.
"As our clients' needs evolve, it is critical that we continue to provide responsive and tailored solutions to help them reach their financial goals. Adopting the SEI Wealth Platform will allow us to meet client needs in an efficient manner through one integrated technology platform," said Bill Ritter, Senior Executive Vice President and Head of the Regions Wealth Management Group.
"There is no question that consumers are seeking a better, more personalized and holistic experience when it comes to viewing and managing their finances," said Al Chiaradonna, Senior Vice President, SEI Wealth Platform, North America Private Banking. "Regions understands that evolving its technology will allow for a vastly improved client experience. Additionally, further leveraging SEI's market-leading securities-processing capabilities, will enable them to put greater focus on client service, providing a tangible business impact and significant growth opportunity. We are proud to support one of the leading banks across the South, Midwest and Texas."
Last year, SEI announced that it signed the first large-scale U.S. wealth management firm, who will leverage the Platform in a Software as a Service (SaaS) delivery model. Regions Wealth Management will now be the first large-scale U.S. wealth management firm to leverage the Platform in its full capacity, including back-office processing support.
There is growing interest and market adoption of the Platform, which currently has significant relationships with 28 private banking and wealth management firms globally. Of the 28, SEI has installed six organizations in the last 24 months specifically in the United States, bringing the total number of U.S., operational clients to nine. Additionally, there are another five clients signed and in various stages of implementation.
To support growing momentum and demand for their solution, SEI Private Banks recently announced the expansion of its SEI Wealth Platform Certification Program, which helps third-party professionals gain advanced expertise on how to implement and operate the Platform.
For more information about the SEI Wealth Platform, please visit seic.com/wealthplatform.
About the SEI Wealth Platform (SM)The SEI Wealth Platform (the Platform) is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, combined with business process expertise. With the Platform, SEI provides wealth management organizations with the infrastructure, operations, and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market. The SEI Wealth Platform supports trading and transactions on 132 stock exchanges in 51 countries and 35 currencies, through the use of straight-through processing and a single operating infrastructure environment. For more information, visit: seic.com/wealthplatform.
About Regions Financial Corporation
Regions Financial Corporation (