Praemium International has entered a deal to provide financial technology platform services to RBS International's clients based outside the UK.

Praemium International, the wholly-owned subsidiary of Australian investment firm Praemium, has entered a deal to provide financial technology platform services to RBS International's clients based outside the UK.

The agreement focusses on the provision of RDR-compliant platform services for expatriate clients based in Jersey, who will be given access to Praemium's separately managed account platform. 

The UK's Retail Distribution Review, which came into force at the start of 2013, is a programme of reforms that stamps out the use of trail commissions paid to advisors, a change designed to make financial advice more independent. The reforms have seen a considerable level of consolidation in the wealth advice industry. Jersey's equivalent RDR programme is due to begin 1 January 2014, with Guernsey also expected to implement similar rules.

"Banks around the world have identified wealth management as an important strategy to strengthen relationships with their traditional banking client base. As a ready-made solution that meets the requirements of financial advice reforms in Australian, the UK and the Channel Islands of Jersey and Guernsey, we are in a position to provide efficiency, transparency and scalability," said Michael Ohanessian, chief executive of Praemium, in a statement.

Praemium administers around 300,000 investor accounts globally, covering some $80 billion in funds.