Software company Misys has teamed up with Finantix, a provider of front-office wealth management services, to introduce an integrated system for the mass affluent retail customer market segment.

Under the partnership, Finantix’s front-office wealth management components will be integrated with a number of Misys’ back-office transactional systems.  The system, Misys Wealth Management, will combine asset allocation planning and portfolio analysis tools with transaction management and processing to form what the companies say is an “end-to-end wealth management solution”.

According to the two firms, the integrated system will enable banks to increase their provision of wealth management services and enhance their ability to manage clients’ portfolios.  By providing such a system, Misys and Finantix argue that new entrants into the wealth management sector will be able to wrest increased market share from specialist service providers.

Guy Warren, executive vice president of Misys Banking, said: "We can help our customers to strengthen their market position, leapfrog their competitors and broaden the services they provide their retail customers to incorporate wealth management support. This partnership extends our capabilities, allows us to expand our client base into the wealth management sector and increases our speed to capitalise on that market."

Misys provides integrated software systems to financial services organisations worldwide, including 50 international banks, and has around 6,000 employees.

Finantix offers front-office applications to wealth managers and retail banks across 19 countries worldwide.  The firm has over 100 developers on its staff, and says that it invests some 30 per cent of its revenue in research and development.