Abu Dhabi Commercial Bank revamps Wealth Management operations with SAGE’ Prospero – IBS Intelligence

IBS Intelligence, the definitive source of independent news and analysis on global financial technology markets, published a report on Abu Dhabi Commercial Bank (ADCB) in the UAE and its Wealth Management solution vendor, SAGE Group SA.

ADCB, a full-service commercial bank with USD 58.5B in assets, also offers wealth management, private banking and investment management services. It has been using SAGE’ Prospero offer since 2007 but embarked on a search for a new platform in 2013. Various vendors responded to their RFP but in the end, ADCB turned back to SAGE Group SA to implement a newer version of Prospero.

The full version of the article can be found at IBS Journal’s website at https://goo.gl/5tFvLM.

For more information on this news, please contact SAGE at +41 21 653 64 01 (Switzerland) or +971 4 428 13 85 (Dubai).

SAGE Group SA at KrisFinsoftware Client Annual Conference 2016

SAGE Group SA will be participating in the Client Annual Meet of our Manila-based partner, Kris FinSoftware, Inc.. This year’s Meet will have the theme “Turning Risk into Opportunities” and will be held from July 08 to 10, 2016 in Pattaya, Thailand.

For more information on this event, please contact SAGE or call us at +65 6911 6640 (Singapore).

SAGE celebrates expansion with new Philippine office opening

After an exceptional period of growth achieved with the ongoing support of all its customers and partners, SAGE Group SA of Switzerland has been expanding rapidly in Asia. On this occasion, SAGE is proud to announce the opening of its new office in Manila.

The new office, located at 15F Citibank Tower, Paseo de Roxas, Makati City, guarantees increased satisfaction for its customers in the Philippine market by providing an entire team of local financial and technical experts.

Jean-Luc Freymond, CEO of SAGE Group SA says that “This is a further sign of our commitment to our clients in the Philippines. We are confident that the new office will allow us to forge deeper ties with our existing partners, and develop our presence in the region by bringing our strong knowledge and expertise to the local market.”

About SAGE
SAGE Group SA is a leading Swiss software publisher and an entirely self-financed company, which was founded in 1986. We serve customers all over the world from our offices in Europe, Asia-Pacific and the Middle East. We design and develop high-quality, multi-channel front-to-back office solutions for private banks and financial institutions such as wealth management firms, family offices and fund management firms.

SAGE offers out-of-the box digitally-enhanced client relationship solutions designed for fast and simple implementation. Improve front office productivity to bring more value added services to clients. Our team of finance and technology experts works closely with our clients to understand their needs and create a flexible, cost effective and efficient solution, which enables ever more complex financial operations.

Prospero, our main product, enables our customers to reach excellence through intelligent, integrated suite of dedicated financial modules. It comes with a full range of front-, middle- and back-office features. Its modules are delivered to the client ready-to-market, easy to set up and user-oriented. This allows users to focus on the areas where they can add most value: strategy, investment performance and strong client relationships.

Contact us to learn more

SAGE Group SA’s Prospero offering placed 2nd in the private banking space as per IBS Intelligence’s ranking

Lausanne, 12 March 2015 – IBS Intelligence, an independent publication covering the financial technology industry, annually releases its Sales League Table report based on the sales results of various global vendors catering to the industry.

IBS Intelligence surveyed software vendors and based on their 2014 sales, SAGE’ Prospero emerged, for the 3^rd year in a row,  as the 2nd best selling software out of 8 solutions in the area of private banking.

Martin Whybrow, Editor-in-Chief of IBS, added that “It has been interesting to track SAGE Group SA’s move into the wealth management mainstream, with 2014 seeing further good progress, in Europe as well as in Asia Pacific.”

“Ranking among the two best-selling private banking solutions for the third consecutive year confirms Prospero as the platform of choice for institutions that share our passion for smarter systems that are simpler to operate,” said Jean-Luc Freymond, CEO of SAGE Group SA. 

Treppides conducts deal with SAGE Group SA

Upgrades in the field of Investment Fund Administration

Lausanne, 24 February 2015 – Treppides Fund Services has recently gone ahead with the conclusion of two very important agreements as part of its expansion of operations. According to the company, these deals mirror its prominent position as a service provider in the field of Investment Funds.

One of the agreements pertain to the Prospero Fund software for the provision of administration services and accounting valuations for Investment Funds. The agreement was signed with Swiss company SAGE Group SA, which is one of the top software system providers and which has great experience in Mutual Funds, fund management, and custodian companies for the provision of the Prospero Fund software.

The Prospero Fund software is based on a powerful platform which allows users to manage the investment fund’s assets in the most optimal way. The software has been designed for the effective and simple automation of all functions, including transactions, corporate actions and investor record keeping. Furthermore, it ensures compliance with all the international rules and regulations that govern investment funds.

SAGE Group SA CEO Jean-Luc Freymond expressed his satisfaction at the conclusion of the agreement between Treppides Fund Services Ltd and SAGE Group SA by saying:

”We are thrilled to welcome Treppides Fund Services in the Prospero users’ community and assist them with their ambitious growth objectives. Prospero’s unique modular design that integrates rules and workflow engines make it possible for smaller Fund Administrators such as Treppides Fund Services to benefit from a robust system otherwise only accessible to very large institutions. After completion of the short implementation project, the new system will let Treppides Fund Services serve their clients with the level of excellence and reliability that they can only expect from the best Fund Administrators.”

Andreas Yiasemides, Partner at Treppides Fund Services Ltd mentioned the following:

“The company has invested in a specialized system, through its effort to offer the best service possible in Mutual Funds. The field of Mutual Funds is developing at a fast pace in Cyprus and Treppides Fund Services Ltd, as a leading service provider in the field, remains dedicated in its efforts for continuous reinvestment, both in the software and human elements, in order to maintain its development as the leading Administrator of Investment Funds.”

Treppides Fund Services Ltd was founded in 2012 with the prospect of providing professional services of the highest level in a wide range of Investment Funds. The company provides a plethora of services such as design, tax structure, application authorization preparation, accounting services, compliance services, advisory services and other investment fund services. With the addition of the new software, the company aims to provide an even higher level of services and to ensure that all mandatory procedures are in place. The deal will confirm the professionalism and reliability of the company as a leading service provider in Investment Funds.

*This article was originally published in Greek at IN Business News on 11th February 2015. Published text translated in English has been adapted for its significance to SAGE Group SA.

SAGE Group SA’s Prospero solution still 2nd best-selling private banking software

Lausanne, 27 April 2014 – Based on the January-December 2013 sales of all software vendors surveyed by IBS Intelligence, SAGE’ Prospero is still the 2nd best selling software in the private banking space.

IBS Intelligence, an independent publication covering the financial technology industry, annually releases its Sales League Table report based on the sales results of various global vendors catering to the industry.

In this year’s report published in March 2014, Prospero came out as the 2nd best selling software, out of 7 solutions, for private banking.

“We greatly value the confidence that our new clients have placed in us. We share their passion for excellence and welcome them to the Prospero community. We really look forward to helping them succeed” said Jean-Luc Freymond, CEO of SAGE Group SA.

SAGE Group SA’s Prospero solution is at the heels of the market leader

Lausanne, 26 November 2013 – Every year, IBS Intelligence publishes a ranking of IT solutions covering various categories (private banking, retail banking, etc.).

SAGE Group SA develops Prospero, a range of solutions for the financial sector which accurately responds to the needs of different segments of the financial services industry. Prospero solutions cover all financial transactions: asset management, fund management, fund administration, independent wealth management / family office and portfolio optimization. These applications allow financial firms to focus on their core business and therefore improve their productivity.

In IBS Intelligence’s Sales League Table report released in 2013, SAGE placed 2nd in the area of private banking with its Prospero offering.

“We are very pleased to see the strong acceleration on the adoption of our software, Prospero. This trend is symptomatic of a context where customers emphasize price-performance ratio and return on investment,” said Jean-Luc Freymond, CEO of SAGE Group SA.

IT Management Faces New Regulatory Requirements

In Switzerland, more than 170,000 individuals are employed in the IT sector, a figure which rivals that of the finance sector and is three times more than the number of individuals employed by the watch making industry.

Meet Jean-Luc Freymond, the director of the Swiss company, SAGE Group SA, founded in 1986 and involved in IT management for banks and financial institutions.

The company known as SAGE was created in Switzerland in 1986. Initially specialising in the development of Enterprise Resource Planning solutions for large corporations, it made the transition to becoming a banking software provider, about seven years ago. Today it possesses 70 employees and achieved a turnover of 11 million Swiss Francs in 2012. It also has offices in Singapore and Dubai.

The company presently focuses on two platforms: The BlackSwan Financial Platform, a risk management and portfolio optimization tool of which a new version is currently being prepared, and the different solutions of the Prospero suite for portfolio management.

Jean Luc Freymond, the company’s CEO, provides us with insight on certain features of SAGE as well as his views on the market with a particular focus on the regulatory challenges within the finance sector. He states that the key concern of asset managers is the reduction of compliance costs in order to concentrate on management.

Why was the name SAGE chosen, a name which in other words is the same as that of the British software provider created at the beginning of the 1980s?

The similarity between the names of both companies is purely coincidental. SAGE is an acronym which stands for Systèmes appliqués à la gestion d’entreprise or Applied Business Management Systems. When our company was created, our British namesake was not as well known then as it is now and its influence had not yet extended beyond the United Kingdom. Since then it has experienced impressive growth although it caters to a completely different category of clients compared to ours. Any possible confusion in this regard is generally cleared up very quickly.

What kind of clients does SAGE presently cater to?

In Switzerland, SAGE caters to private banks, independent asset managers and family offices. The company Unigestion is one of our long term clients. Our clients outside Switzerland include a certain number of large banks such as Abu Dhabi Commercial Bank.

What are the requests of your clients as well as the key trends in IT Management?

There is currently a reticence on the part of institutions to engage in large scale projects. They are rather more inclined to seek out solutions to specific problems as doing so involves limited risk and provides a rapid return on investment.

Have there been any changes in requirements regarding global solutions such as Cloud for example?

There has clearly been a change of mentality with regards to Cloud. It is the sort of solution mainly chosen by small companies which do not possess a well-developed internal infrastructure. Experience has proven that it is more profitable to have a Cloud solution which is governed by existing rules and regulations in the industry and which possesses a highly secure infrastructure, of which the raised costs are shared, rather than a more modest proprietary infrastructure. Another advantage which clients are becoming more aware of is the rapidity with which it can be installed and the fact that it is independent of the availability of resources possessed by their IT departments.

In what way are providers of IT solutions taking regulatory changes into account, particularly with regards to the finance sector?

The initial perception of regulatory changes is generally negative due to the additional costs that they incur as well as risks in the event of noncompliance. On one hand, we remain alert in order to be able to anticipate the required changes to our systems so as to implement them promptly. On the other hand, we attempt to seek out opportunities which enable us to take advantage of these changes in order to make it possible for our clients to improve their services. For example, the fact that it is obligatory to question the client on their risk profile is beneficial in that it makes it possible to analyse behavioural patterns which can be quite useful for quantitative models.

What solutions do you propose that will enable financial institutions to spend more time on management and less on regulatory compliance?

Time saved due to implementing effective procedures either during the gathering of information, the transferring of orders, the processing of transactions or the periodic reviewing of records. At each of these stages, we assist users in reducing manual operations and above all the risk of error. We have developed a compliance regulatory programme which participates in the work flow and which alerts the user at each step in the event of any action which risks violating any established regulation.This programme is also combined with a control panel which makes it possible to constantly verify compliance with set regulations.

Regarding project implementation, what appeal do traditional procedures hold for clients compared to the Agile procedure developed about 10 years ago?

Experience shows that traditional methods of implementation are based on the premise of clients being able to express the totality of their needs at the beginning of the project. However, without entering into communication issues or the interpretation of those needs, their evolution is so rapid that a part of them are already altered during the period required to gather and document them. Agile’s development method which possesses a far greater degree of flexibility has been specifically adapted to software development and implementation within a context of rapid change.

What key challenges does IT Management face in the coming years?

It is certain that questions relating to data quantity and security will be central to concerns in the years to come. The generalized use of mobile platforms accessible from any location or using any device will result in the need for new means of ensuring data security. On the other hand, the amount of data generated will increase exponentially. The wealth of information contained in “Big Data” hints at very interesting opportunities. It will be useful to establish new kinds of infrastructure to gather, secure, and above all, process data of such quantity.

*This article was originally published in French by Marjorie Théry for L’Agefi, the daily economic and financial agency in Geneva, on 28th October 2013.

SAGE Group SA: The Front Office revolution bringing investors and fund managers closer

In an interview with Geneva Business News, Jean-Luc Freymond, the CEO and Chairman of SAGE Group SA – a leading Swiss company in financial management technology – speaks of the recent accolades awarded to the company’s products as well as his vision and the means by which he intends to bring it to fruition.

The successive crises which have affected the banking and finance industry have resulted in both investors and fund managers seeking for tools which are simple, yet reliable to manage their portfolios. Also sought for, in addition to portfolio management, is an improvement in client – fund manager relations resulting from improved understanding and explanation of financial products.

SAGE Group SA is dedicated to revolutionizing the front office interface between investors and financial establishments, a goal which forms the very core of its vision. It has created two product lines of which the first, Prospero, provides software used for wealth management, institutional management and the management of funds (including hedge funds).

Prospero provides solutions for each part of its niche market including independent wealth managers, established banks and family offices. In recent months, Prospero has received several accolades particularly from a number of renowned independent stakeholders such as IBS Intelligence and the AITE Group.

The more recent product, BlackSwan, is a platform which makes it possible for investors and managers to optimize portfolio returns specifically through loss reduction during extreme market conditions such as the recession. In spite of its elaborate internal mathematical model, BlackSwan is a platform which is both simple and easy to understand and which makes it possible for the user to effectively distribute their investment between different available asset groups – a function which should have required 20 man-years to achieve – a considerable head start on the competition.

It has just been recognized by Datamonitor as 2013’s new trend in the area of client – fund manager relations. A notable key function of the product is that it increases the quality of communication during business meetings between the two parties as well as improving the understanding and the management of risks. SAGE Group SA is a promising pioneering firm in a sector in which young investors are interested in obtaining an improved understanding of the contents of their portfolios unlike a significant proportion of mature investors.

Products and comparative advantages: Practical risk management solutions

Geneva Business News: What are your views on the accolades awarded to your products Prospero and BlackSwan? Do you consider them to be the peak of achievement or a source of additional motivation?

Jean-Luc Freymond: For a firm like SAGE Group SA that is constantly in search of innovation, the recognition of independent stakeholders such as IBS, AITE and Datamonitor is very important particularly in light of the fact that they are focused on the future and are good observers of key trends! We view these accolades as recognition of the accuracy of our vision and the effectiveness with which it is implemented. It is a confirmation of the fact that we provide real added value to the industry both in terms of innovation and in terms of the relationships we have with our clients. It is also recognition of the work carried out by our staff. These accolades indeed provide additional motivation to innovate and maintain our leadership.

SAGE has made a winning connection between the 3 factors which can enable banking establishments to stand out from among the competition. These are: The front office, products and order processing (back office). 

Geneva Business News: The ‘flexibility’ of your product and rapid investment returns are often mentioned. Could you provide us with factual examples of these?

Jean-Luc Freymond: Banking establishments prefer to avoid lengthy and costly projects on which investment returns are not guaranteed. Rapidity on investment returns has become an important criterion by which projects are selected and by which their success is measured, particularly in the present time. Investment returns are measured in terms of business volume growth or cost rationalization.
We have thus modified our products in order to respond to these needs. The preconfigured solution we provide incorporates best practices and can be utilized promptly thus enabling our clients to reach their objectives just as rapidly.
For example, we installed our solutions in two banks within the space of six months: the first installation was completed within three months and the second within four months.
SAGE Group SA has made a winning connection between the 3 factors which can enable banking establishments to stand out from among the competition. These are: The (1) front office, (2) products and (3) order processing (back office). Without a knowledge of the product by the front office, an available comprehension of products or the prompt processing of orders according to clients’ specifications; it would be difficult for an organization to experience an increase in business figures. Our products provide this supplement of flexibility in the value creation chain – flexibility which could become a comparative advantage for a financial establishment.

 
Geneva Business News: SAGE Group SA is a pioneering organization in the area of Cloud solutions for financial establishments. Such services would not have been considered due to security concerns if not for the financial convenience of this particular segment of the market. Is boldness or are gadgets required to stand out from among the competition?

Jean-Luc Freymond: Our aim was to provide financial establishments, family offices and independent fund managers with a small-sized first class tool. These stakeholders are not necessarily interested in having an important computing service during the launch of their activities but wish to access our Cloud services almost immediately after becoming our clients. In addition, our robust systems which possess a high level of security provide a first class data processing service to our clients that they would certainly not have been able to install within such a short period of time or at so little cost. It is true on the other hand, that our key clients – who besides, are not our target for this service – initially displayed a certain reticence. However we are unafraid of innovation.

“BlackSwan was created to assist investors and fund managers in managing risks in volatile markets… using macroeconomic data – such as levels of unemployment, petrol prices and growth – that everyone can understand. “

Geneva Business News: Your other product, the BlackSwan, which is also a part of the Prospero line is slightly less well known.

Jean-Luc Freymond: BlackSwan is a very promising product. Datamonitor has also confirmed that fact. BlackSwan was created to assist investors and fund managers in managing risks in volatile markets as has been the case for some years. Using macroeconomic data that the client can understand – such as levels of unemployment, petrol prices and growth – BlackSwan makes it possible for the investor to understand the evolution of their portfolio in relation to these parameters and thus participate in managing risks linked to it. It is in this sense that BlackSwan improves the quality of communication between the investor and the fund manager. These discussions become truly interactive because both partners are able to use common parameters. It is a minute revolution within the banking sector long accustomed to using risk management mathematical models hitherto understood by a handful of employees. BlackSwan is a solid guarantee in improving risk management.

 
Geneva Business News: Real time trading risks are often mentioned. The BlackSwan platform must evidently be considered in the issue of trading, does it not however somewhat contribute to the impersonalization of the financial process?

Jean-Luc Freymond: Not at all! BlackSwan is a long term management tool which makes it possible to optimize portfolio returns based on macroeconomic data which is essentially a long term strategy compared to real time trading.

 
Geneva Business News: What are the comparative advantages that you have at present?
Jean-Luc Freymond: The fact that our service is preconfigured makes it possible for it to be installed within a short period of time. Additionally, our partnerships with technology and data providers make it possible for us to conceal the true extent of the complexity of our solutions from our clients so that they are perceived as being simple and easy to set up. Our services integrate all the necessary licences thus saving the client the trouble of having to negotiate with each provider. Our strategy for Front Office improvement has made it possible for us to anticipate the need for investors and managers to communicate through the use of parameters they can both understand – a leadership in innovation which has been recognised as mentioned earlier. Finally, few stakeholders can claim to have our knowledge of this market in the 3 key regions for future growth in the financial sector, namely: Asia, the Middle East and Europe. All these elements contribute to the uniqueness of our service.

Strategy for growth: Innovation and lead markets

“Our comparative advantages are threefold: the simplicity of our service due to the fact that it is preconfigured, innovation, and our unique understanding of the market on a global scale.”

Geneva Business News: SAGE Group SA is currently present in Europe, the Middle East and Asia. You have 2 product lines. Will they be sufficient to ensure sustainable growth? What are your growth levers for the future?
Jean-Luc Freymond: The 3 regions have a potential for growth that is already absolutely phenomenal. This industry is experiencing a period of profound change from pressure for regulatory hypertrophy, pressure on offshore products, transfer of wealth to the East, and a younger generation of investors whose relationships with their bankers are completely different from those maintained by the older generation with theirs. This dynamic gives rise to new opportunities and motivates us to further concentrate on our niche and to endeavour to understand these changes in order to provide solutions which remain innovative and capable of ensuring the prosperity of our clients and of ours as a result. That is our strategy.

 
Geneva Business News: You seem to be avoiding the American market. Is this due to a desire to concentrate on markets in which you are already influential or because you wish to avoid problems even though you are not a bank?
Jean-Luc Freymond: We are not exposed to the same risks as banks. As I have already stated, the potential of the markets we are currently concentrating on is enormous and we want to avoid spreading ourselves too thin and losing our closeness with our clients as a result.

“We intend to equip BlackSwan with features which make it possible to measure risks more effectively for non-banking asset groups such as real estate and private equity.”

Geneva Business News: What future developments do you envisage for your products?

Jean-Luc Freymond: We are working on a development which optimizes the presentation layer for touch screens for both Prospero and BlackSwan. Our software already operates on these screens but we wish to improve their ergonomy. Specifically for BlackSwan, we intend to add features which make it possible to measure risks more effectively for non-banking asset groups such as real estate and private equity. An example of risk is risk linked to a lack of liquidity. Still within the perspective of improving the relationships between investors and their banks, we intend to equip BlackSwan with search results on long term and sustainable investments once they have come to maturity.

 
Geneva Business News: Where do you see yourselves in 5 years?

Jean-Luc Freymond: In 5 years, I envisage a business experiencing significant growth which will have improved its share of the market and the ergonomy of its products. I also envisage a key part of our revenue coming from an Internet self-service feature which makes it possible for investors to register with us online and gain access to our services without having to contact our staff first of all. That is going to be our new distribution channel.

 
Geneva Business News: How does an organization like SAGE Group SA manage its human capital, namely, its staff? How are they recruited and what do you do to keep them?

Jean-Luc Freymond: Our employees are our most important asset and we are proud of our very low staff turnover which is due to a combination of 2 factors: the importance we place on sharing our values from the outset and the creation of a variety of motivating challenges throughout the careers of our employees.

An Entrepreneur in search of key trends and sources of added value.

“In five years, I envisage … a key part of our revenue coming from an Internet self-service feature.”

Geneva Business News: You possess a background which although unusual is no less original: Business management, law and information systems. What have been the keys to your ability to adapt to these different areas?

Jean-Luc Freymond: When I look at my experience, the single factor which has always motivated me is the desire to improve the area within which I function. In order to improve my ability to adapt and my quest for added value, it is necessary for me to analyze and understand key trends, hence the significant amount of time I dedicate to reading and the perfecting of my professional experience.

Another tool which I have found to be of great importance is the Entrepreneurs’ Organization which I am a member of and which provides a unique framework for the sharing of experience. This organization offers a significant amount of continuous training. It is as a result of it that I completed a Master’s programme at the Massachusetts Institute of Technology (MIT).

 
Geneva Business News: Several executives have habits to which they are accustomed such as rising at 5 o’ clock daily to engage in physical exercise. What about you? What do you do to ‘unwind?’

Jean-Luc Freymond: There are two things I do to unwind. First of all, I dedicate one hour between the hours of six and seven a.m. to sports activities, which enables me to begin the day in a dynamic and motivated manner. Secondly, I also follow a certain lifestyle which includes managing the transition between my professional and private life while commuting between my home and my place of work. When at the workplace, I concentrate on work related issues and concentrate completely on my family when with them.

Profile of Jean-Luc Freymond

Prior to becoming the CEO and Chairman of SAGE Group SA, Jean-Luc Freymond was one of the principal architects of Prospero, the banking and financial management software suite developed by the organization. Prior to joining SAGE, Jean-Luc worked for UBS and already possessed more than 14 years of experience in system development and in project management in the banking sector. He was also responsible for the successful completion of several large scale projects through the effective management of teams composed of both developers and analysts.

He shares his experience by giving banking technology courses at the University of Lausanne and by participating in expert forums and webinars in this area. He is also an active member of the Entrepreneurs’ Organization.

Bilingual in French and English, Jean-Luc possesses a BA in Management and a postgraduate diploma in European Law, both obtained from the University of Lausanne. He also possesses a Masters Degree in Entrepreneurship obtained from the Massachusetts Institute of Technology (MIT).

 
*This article was originally published in French by Constant Gbaguidi for Geneva Business News on 25th June 2013.