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Tieto - Wealth and Asset Management BPS

Vendor Analysis

by Andy Efstathiou

published on Jan 19, 2016

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Report Overview:

This NelsonHall assessment analyzes Tieto’s offerings and capabilities in wealth and asset management services. Tieto is one of a number of wealth and asset management services companies analyzed in NelsonHall’s comprehensive industry analysis programs. 

Who is this Report for:

NelsonHall’s Wealth and Asset Management BPS Vendor Assessment for Tieto is a comprehensive assessment of Tieto’s wealth and asset management BPS offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for wealth and asset management BPS RFPs
  • Vendor marketing, sales and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the support services sector.

Scope of this Report:

The report provides a comprehensive and objective analysis of Tieto’s Wealth and Asset Management BPS offerings, capabilities, and market and financial strength, including:

  • Identification of the company’s strategy, emphases and new developments
  • Analysis of the company’s strengths, weaknesses and outlook
  • Revenue estimates
  • Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
  • Analysis of the company’s offerings and key service components
  • Analysis of the company’s delivery organization including the location of delivery locations.

Key Findings & Highlights:

Tieto began in the financial services sector in the 1970s, primarily by selling IT products. Since the 1990s, it has been shifting its offering mix for the financial services industry towards services, including ITS and BPS.

Tieto began its activities in wealth and asset management, working with Cerdo in 2006. Cerdo is a bank owned joint venture which started in 2001; it delivers operations processing services to its owners, and is owned by:

  • Sparbanken Finn
  • Sparbanken Gripen
  • Swedbank (Sparbanken Öresund).

Tieto began its wealth and asset management BPS activities with Cerdo in April 2015. At that time, Tieto took management responsibilities for a Cerdo-owned delivery center based in Sweden. Tieto will deliver wealth and asset management BPS services to Cerdo’s existing clients, and will expand over time to include additional clients and processes. In addition, outside of W&A BPS, the Cerdo contract provides administrative payment services for its clients. By 2016, Cerdo is expected (according to its own website) to be dissolved as an entity; its ongoing activities will be delivered by Tieto.

Tieto delivers services from one delivery center in Sweden, and draws on its delivery capabilities across multiple centers in each of the Scandinavian countries. Because Tieto’s W&A BPS services are highly automated, it regularly utilizes ITS capabilities from around its internal network.

Tieto’s targets for W&A BPS are wealth management arms of banks and brokerage firms headquartered in Sweden, Norway, Finland, and Denmark. Tieto is focused on targeting Sweden (current clients) and Norway (future mid-tier clients) over the next twelve months. 

Tieto has focused, in W&A BPS, on:

  • Scandinavian markets only, specifically Sweden to date, and Norway in 2016
  • Onshore delivery for compliance and for proximity to client operations and market needs
  • High levels of automation and digitization: primarily automation of manual processes to drive increased efficiency into client operations
  • Enhancing reporting for clients, to understand investment performance and costs; and for regulators, to respond to changing compliance requirements.

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Pricing and Contracts
  • Changes to Operations
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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