The UK-based provider of customer relationship management technology has unveiled a new system to help wealth managers boost operational and cost efficiencies.

Wealth Dynamix has launched WDX ONE, a Microsoft cloud-based customer relationship management (CRM) system for wealth and investment managers.

WDX ONE, available to small to mid-market firms, provides a CRM implementation and business transformation package. It aims to cut typical project delivery time and implementation costs by over 60 per cent. London-based Groupe Financiere Hottinger & Co (Hottinger) has already signed up to the platform.

The platform aims to enhance digital marketing and communications, the firm said, delivering best practice front-middle office capability pre-packaged with KYC and suitability requirements, AML integration, operational workflows, reporting, client on boarding and marketing automation.

The launch comes at a time of significant growth of cloud-based services within the wealth management sector. EY reported at the Compeer Wealth Tech conference 2015 that 85 per cent of wealth and investment management firms either use or are planning to use such services.

“The launch of WDX ONE has been timed to coincide with the FCA’s evolving guidance on the use of cloud solutions for client data, and the burgeoning demand from wealth managers to deploy sophisticated client relationship management solutions at an effective price point,” said chief executive of Wealth Dynamix, Gary Linieres.

“Firms are fighting to grow their AUM whilst dealing with increasing regulatory burdens and agile, tech savvy new competition. WDX ONE provides both regulatory compliance and opportunity for service improvement and digital expansion for ambitious investment firms looking to redefine their standards of business and take solid steps towards future growth.”