After an extensive search lasting over several years, Frost Bank of San Antonio, Texas has selected Fi-Tek LLC as their wealth management technology partner. Together, Frost Bank and Fi-Tek successfully implemented on May 31st, 2020 the full suite of GWES wealth management platform.
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Due to lockdown and travel restrictions from the pandemic, Frost Bank and Fi-Tek successfully conducted remote training for hundreds of users on the new GWES platform while managing a large, complex data conversion and systems deployment. Frost Bank’s users easily adopted the platform to support FWA and FIA wealth management functions, with additional capabilities for their Oil & Gas, Real Estate and Pension businesses, across seven offices around the state of Texas.
Subir Chatterjee, President & CEO of Fi-Tek LLC, commented on the successful implementation: “We have achieved a significant first with Frost Bank – the first client in our 20-year history where we implemented our platform 100% remotely due to the pandemic. We are delighted that Frost Bank’s FWA and FIA groups selected our platform, and we at Fi-Tek and our subsidiary Rockit Solutions, look forward to a long and collaborative partnership.”
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Fi-Tek’s GWES platform is an integrated solution for wealth management and trust on a single database, with the following major features: investment planning and proposal generation, client onboarding, investment management with modeling & rebalancing capabilities, trading with integrate OMS, GIPS compliant performance calculation engine, global securities processing and asset servicing, P&I accounting with global multi-currency capabilities, cash management, and extensive reporting capabilities including wealth analytics for data visualization. The platform interfaces with financial intermediaries through SWIFT, API’s, and automated file extracts.
“It has been a pleasure working with the team from Fi-Tek,” said Mike Milich, Senior Executive Vice President at Frost Wealth Advisors. “Subir and his group have proven that a major system conversion can be done in the midst of great challenges and with very limited issues. We are very proud of our young but building relationship with the Fi-Tek team, and we look forward to many years on the GWES platform.”
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