Danske Bank picks SEI to support Northern Ireland operations
Danske Bank’s private banking and wealth management services in Northern Ireland will continue to use a portfolio management solution from SEI for a further three years, the two groups have announced.
The two have been working together since 2011, and Danske said this would facilitate its ability to maintain implementation of technology that gives its clients a better service. Danske Bank is used as a trading name of the Danske Bank Group’s Northern Bank Limited in Northern Ireland, where it is regulated by the UK’s Prudential Regulation Authority and Financial Conduct Authority.
Jennifer Elliott, senior manager, Wealth Management at Danske Bank, said: “Significant technological and regulatory change is causing well-documented changes to client needs and expectations. We are delighted to confirm our continued partnership with SEI, and look forward to maintaining this productive relationship over the coming years.”
Brett Williams, managing director, SEI Wealth Platform, UK Private Banking, added: “As the market undergoes upheaval as a result of legislative and regulatory change, we are seeing an appetite from private banks for a partner who can operate to scale and keep pace with these developments.”
“Today’s news is another example of how we can continue the good work we have already done with this client. We welcome the opportunity to continue working with Danske Bank into the next decade.”
The SEI Wealth Platform offers wealth processing services and wealth management programmes combined with business process expertise. This is offered to users as an outsourcing solution. The platform supports trading and transactions on 132 stock exchanges in 51 countries and 35 currencies, through the use of straight-through processing and a single operating infrastructure environment.