EFG wants to bolster the business with independent asset managers. The private bank is launching a multi-custody platform for this purpose.

EFG International, a Zurich-based private bank, will broaden the services for independent asset managers over a three-year period. In a first step, the bank will launch a new platform, the company said in a statement on Tuesday.

The new service is a so-called multi-custody platform. Such platforms typically enable independent wealth offerings including more than one bank. The EFG platform will provide a range of functionalities including the management of customer relations, portfolio management, reporting, compliance and risk management.

Independent wealth managers will get access to information from all EFG booking centers, investment solutions and products. The launch of the platform is set for September 1, 2019. The platform was designed by Expersoft, a Zug-based software firm.

Source : finews.com