Webster Bank and MassMutual Trust have implemented SEI Wealth Platform, a wealth management technology solution that supports 11 private banks and trust clients across the US.
The platform supports banks through client relationship management including front-, middle-, and back-office fiduciary investment and account administration processing services.
The two entities are deploying the suite of the services, such as client acquisition services, advisor desktop experience, and operational outsourcing.
Webster Bank’s launch of SEI’s integrated wealth management solution will support its relationship-based client service model. Using the platform, the bank will be able to facilitate accelerated organic growth and economic profit.
SEI Wealth Platform will enable MassMutual to create a more efficient, robust and user-friendly business platform. The technology will be leveraged to improve the agent/staff and end-client experiences.
SEI Wealth Platform senior vice president of North America private banking Al Chiaradonna said: “The conversion of these two companies onto the SEI Wealth Platform represents the continued momentum not only to adopt the Platform as seen through MassMutual Trust, but also for our Trust 3000 clients to move over to the Platform, as is the case with Webster Bank.
“This demonstrates the value that our clients see in SEI’s comprehensive servicing abilities, as well as the tremendous growth opportunities in the foreseeable future for the Platform.”