US-based Bremer Bank has selected the SEI Wealth Platform to support growth into the high-net-worth space.
Bremer Bank has been a client of SEI since 2011 and currently uses the vendor’s legacy platform TRUST 3000.
The company will transfer around 3,700 accounts with $4.5bn in assets from the legacy platform to the new platform in the end of this year.
The vendor said that its SEI Wealth Platform, an integrated wealth management solution, will enable Bremer Bank to customise daily management of investment portfolios, boost data accuracy as well as lower manual reconciliation.
SEI senior vice president of private banking Al Chiaradonna said: “We are in the midst of a wealth management evolution, and we are excited to provide Bremer Bank with a unified wealth platform that will improve efficiency while creating scale and capacity, unlocking potential for future growth.
“As technology rapidly changes, consumer demand for a transparent, streamlined user experience increases. The SEI Wealth Platform will help enable Bremer to cultivate deeper interaction between their clients and wealth managers in a cohesive digital environment.”