Mumbai : KFin Technologies has launched the mPower Wealth platform, an advanced, omnichannel wealth management solution designed to address the needs of wealth managers, family offices, banks, and external asset managers. The platform offers integration across front, mid, and back-office operations, multi-asset, multi-currency capabilities, and technology to help wealth managers improve client experiences.
According to the 2024 Knight Frank Report, the global wealth management industry has grown substantially, with the ultra-high-net-worth individual (UHNWI) population increasing by 4.2% to 626,619 in 2023. Projections indicate a 28.1% rise over the next five years, with regions like India and mainland China expected to grow 50% and 47% respectively. The shift towards multi-asset and multi-currency investments, along with a generational wealth transfer that emphasizes purpose-driven investments, presents an opportunity for platforms that can provide a holistic view of client assets, ensure regulatory compliance, and scale with the business. mPower Wealth aims to address the evolving needs of this growing market by providing a comprehensive, scalable, and technologically advanced platform.
Sreekanth Nadella, MD and CEO of KFin Technologies Limited said, “India’s technology sector is making significant contributions to global finance, and with mPower Wealth, we’re contributing to this transformation. Our platform reflects our vision of agile, intelligent, and client-centric wealth management. By combining technological innovation with financial expertise, we are supporting wealth managers as they navigate an increasingly complex landscape. Through mPower Wealth, we are participating in the fintech evolution, with India playing a key role.”
Key features of mPower Wealth include:
• Comprehensive Integration: Integration across front, mid, and back-office operations, enabling efficient workflow management.
• Multi-Asset, Multi-Currency Capabilities: Ability to handle diverse investment portfolios across various asset classes and currencies.
• Advanced Analytics: Using AI and machine learning models to provide descriptive, diagnostic, and predictive analytics for deeper insights.
• Personalization: Tailored client experiences through visualization and AI-driven insights.
• Regulatory Compliance: Built-in features to support adherence to evolving regulatory requirements.
• Scalability: Designed to grow with businesses, offering performance for wealth management firms of all sizes.
• 360-Degree Client View: Comprehensive understanding of client finances, including held-away assets.
• Configurability: Customizable to meet the specific needs of various wealth management business models.
mPower Wealth’s user-friendly interface caters to both seasoned wealth managers and those new to the industry, while its sophisticated security protocols ensure data integrity and user privacy.
