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EI Bank invests in SAGE SA Prospero Wealth Management suite

SAGE SA has announced it will provide Dubai-based Emirates Investment Bank (EI Bank) with its full Prospero Wealth Management solution


SAGE, a financial software solutions company specialising in wealth management, revealed that EI Bank invested in Prospero to cover its front-to-back office requirements as well as the General Ledger program.

Samer Ghosheh, IT director of EI Bank, said, ?We found that Prospero Wealth Management was one of the few software solutions in the market that provided all of the functionality necessary to run our wealth management business across all asset classes, from front office to back office, including General Ledger.

?Most systems we short-listed demonstrated strength in only certain areas, whereas Prospero allowed for the streamlining of our processes, which will translate into cost reduction and minimisation of our operational risk,? he added.

Prospero is a flexible suite of solutions which can be tailored to the specific segments of the financial services industry, covering all aspects of financial operations, SAGE explained.

The operations covered include wealth management, asset management, fund administration and independent asset management.

The software caters to each bank and financial institution?s unique needs, allowing separate implementation or complete integration of its components. It can also interface with existing legacy systems as part of a best-of-breed approach, SAGE said.

Fernand Rasetti, COO of SAGE, commented, ?We at SAGE SA understand that the name of the game after the financial crisis in the GCC has changed. Competition won?t wait for us.

"You have to think out of the box every day and step out to offer banks in the GCC a fully-fledged wealth management software solution packed with the latest features, at record implementation times, and with extremely competitive conditions."

?We are delighted to have been chosen by Emirates Investment Bank and look forward to assisting them in growing their activity while solidifying both ours and Emirates Investment Bank?s presence in the GCC,? he added.