Posted on: October 18, 2010
Independent research firm includes SAGE Group SA in “Hot Banking Tech Companies To Watch In 2010: Q2 Update” Report
An independent research firm has included SAGE Group SA in its “Hot Banking Tech Companies To Watch In 2010: Q2 Update” report.
SAGE Group SA is a financial technology firm that develops banking solutions. Its flagship product, Prospero, is a suite of nine separate software modules that cover all aspects of financial operations, including asset management, wealth management and fund administration.
In its July 2010 report, Forrester Research, Inc. describes technology companies that are addressing challenges in key banking industry processes.
The report notes that financial institutions are attempting to correct and change their business models in response to market challenges, and describes 11 vendors that are providing innovations in key banking industry processes, such as risk management and asset management.
According to the report, “the evaporation of nearly 20 percent of the wealth of high-net-worth (HNW) individuals put new pressures on wealth advisors.” Many of these firms are now looking at how technology could help them better serve their high-net-worth clients.
The report went on to say that “SAGE’ Prospero provides global and regional money management firms with an easy-to-deploy solution that accelerates the time-to-value with minimal effect on their IT shops.
In particular, the report recognized SAGE for tackling two big challenges for its target audience: “the first, the challenge of integrating multiple applications from multiple providers, complicated by the second, the time and expense of customizing myriad apps to address firm-specific process, workflow, and reporting requirements.”
SAGE Group SA’s CEO, Jean-Luc Freymond, believes that current market conditions have changed the rules for software vendors.“Regulations are becoming more complex, and cost pressures are increasing,” Freymond says.
According to Freymond, SAGE addresses these changes by offering innovative solutions at minimal costs. “Prospero is different from other systems because it offers a smooth rollout, simplified management of complex financial products and regulatory requirements, and total integration between modules – all within a cost-effective pay-per-use model,” continues Freymond.
“We believe that only the systems that can offer this combination of features will succeed in today’s marketplace, so our recognition by Forrester is very encouraging,” Freymond adds. “We believe it shows that SAGE is ahead of the game.”
Download the system overview on Prospero here.