Manila, 17 November 2020: Thakral One today announces that it is extending its relationship with additiv and Microsoft as they seek to expand their focus within the Philippines and support banks access an underserved market.
additiv, a leading SaaS provider to the wealth management industry, and Thakral One, an IT consulting services focused on bringing global transformative technologies to the Philippines have joined forces locally, to enable banks to implement a fully digital wealth solution built on Microsoft Azure. The integration means that now banks within the country can provide an optimum customer experience at a lower cost with local support, while also potentially accessing an untapped opportunity in under three months through additiv Hybrid Wealth and Wealth Robo solutions using their KickStarter™ model.
The integration comes at a time when banks within the region need it most. Digitization has gradually impacted the wealth management industry, but as a result of the current pandemic, the speed of change has suddenly accelerated. Customers are demanding the best possible digital experience all while the industry needs to reduce costs.
In addition, there is a growing need within the region to meet the needs of the 15% of Filipinos with investible income who do not currently have access to investment products. This growing market is highlighted by the World Economic Forum who confirmed within a recent report that the middles-class population is expected to expand “to include 70% of the ASEAN population by 2030, total consumption will double across the region, with the Philippines experiencing the highest consumption growth.“
The collaboration allows financial institutions to access this market, through additiv’s Wealth Robo Accumulator solution on Azure and implemented with partners Thakral One. The solution integrates several Azure services including Azure Cache for Redis and a SQL Database. This offers a simple, transparent, and affordable digital tech solution for financial institutions in the Philippines to empower a greater number of discretionary and advisory clients to make considered, yet low value investments, easily based on automatically customized or remote personal advice tools.
Kevin Hardy, General Manager Asia Pacific at additiv highlighted:
“In these uncertain times, collaboration is key to success. And we cannot stand still. This collaboration allows banks within the Philippines finally to leverage the benefits of having a truly digital investment range with all the benefits of our KickStarter™ model with no integration, capex or implementation fees, delivered in under three months.”
Kevin Hardy added:
“By offering efficient, engaging customer experiences at every touch-point at anytime, from anywhere, banks can now both service their existing client base but also more cost-effectively access additional markets previously not viable through self-service and personal advisory services.”
Ms. Melissa Egasani, SVP and Country Head for Philippines at Thakral One confirmed:
“Our team is quite experienced in the areas of Customer Intelligence, Analytics and Digital Process Automation and our Microsoft expertise along with keen focus on Financial Services Domain allows us to be the glue that completes the Additiv and Microsoft proposition in terms of probability of success for implementation in the Philippines.”
Fides Ricasa, One Commercial Partner Director at Microsoft Philippines said:
“It has never been more important for financial institutions to be able to efficiently offer solutions that support financial inclusion to the masses. Azure enabled Additiv to create the underlying DFS® Cloud Architecture. As a result, additiv and Thakral One client’s can experience the highest level of speed, flexibility, scale and security that they have come to expect from Azure.”
The collaboration is an extension for both additiv and Thakral One. In June this year, additiv announced that their wealth KickStarter™ solutions are now available on Microsoft AppSource for Web Apps.