Frost Wealth Advisors (FWA) and Frost Institutional Advisors (FIA) successfully deploy Fi-Tek's Global Wealth Enterprise Solution (GWES)
PR Newswire
SAN ANTONIO, Nov. 16, 2020
SAN ANTONIO , Nov. 16, 2020 /PRNewswire/ -- 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 31 st , 2020 the full suite of GWES wealth management platform.
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."
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."
For a detailed case study regarding the Fi-Tek GWES deployment at Frost Bank, please click here: Frost Wealth Advisors and Frost Institutional Advisors successfully deploy Fi-Tek's Global Wealth Enterprise Solution .
Frost Bank
Frost is the banking, investments and insurance subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with $34 billion in assets at Dec. 31, 2019 . One of the 60 largest U.S. banks by asset size, Frost provides a full range of banking, investments and insurance services to businesses and individuals in the Austin , Corpus Christi , Dallas , Fort Worth , Houston , Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped Texans with their financial needs during three centuries. For more information, visit www.frostbank.com
Fi-Tek, LLC
Fi-Tek is a leading provider of technology and technology-enabled solutions to financial institutions, including: Asset Managers, Trust and Private Banks, Family Offices, Hedge Fund Managers, Fund Administrators, and Broker/Dealers. Servicing over $1.4 trillion dollars of assets, Fi-Tek's suite of Private Wealth Technology Solutions consists of Global Wealth ES, Rockit Command, and HedgeTek technology platforms. Please contact Arpita Chatterjee ( AChatterjee@Fi-Tek.com ) or Kevin Fisher ( KFisher@Fi-Tek.com ) for any information and questions. Additional information on Fi-Tek and its solutions may be found at www.fi-tek.com .
SOURCE Fi-Tek