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Case Studies
March 12, 20263Minutes

How Eurobank Consolidated Complex Investment Operations with PCS Wealth Management

Two people working at a desk, one holding an invoice, the other using a calculator. Papers and stationery suggest a focused, financial task at hand.
Eurobank’s Fund Services team is tasked with handling all the behind-the-scenes stuff for institutional clients and asset managers, including all the middle- and back-office operations. Plus, they manage investment portfolios themselves through a dedicated asset management arm. Now, the tricky part was that over time, they were using all sorts of different systems, each running on their own separate infrastructure. This was, to put it mildly, a mess that slowed things down.
 
To make sure they could keep growing, operate more efficiently, and cut down on those overhead costs, Eurobank decided it was time to bring all their wealth management and fund accounting activities under one modern, digital umbrella.

Flowchart comparing fragmented and unified systems. Left: four separate systems. Right: single circle labeled "PCS Wealth Management Platform." Arrows point from each system to the circle.

Business Case

Before this project, Eurobank was actually using quite a few separate systems:

  • One system for the middle- and back-office tasks for third-party institutional clients.
  • A different system to manage investment portfolios where decisions are made for the client.
  • Three different systems just for fund accounting and daily pricing – one for Greek funds, one for Luxembourg funds, and another for third-party funds.

All these systems were hosted on different platforms and meant a lot of duplicated effort, separate processes, and extra infrastructure to maintain.

The big goal here was to combine all of their asset management, discretionary portfolio management, and fund accounting operations into one single platform and installation. It didn’t matter who the client was, where the fund was domiciled, or how it was structured. The idea was that this unified approach would allow them to slash their infrastructure and operational expenses, boost their team’s productivity, and build a rock-solid foundation for bringing in new clients and services down the line.

We broke the project down into two stages:

  • Stage A: Replace the old discretionary portfolio system with PCS Wealth Management.
  • Stage B: Integrate all the fund accounting and daily valuation systems into the same platform.

Solution

PCS stepped in and replaced the old discretionary portfolio system, while also bringing all the fund accounting operations together in one digital hub. The PCS Wealth Management Platform now smoothly handles discretionary and advisory portfolios, institutional clients, their own funds, third-party funds, and can even manage operations across different countries – all from a single installation.

Here’s a peek at what was involved:

  • We migrated all the historical data from their old, disparate systems.
  • We developed a lot of interfaces to connect with other third-party banking, custody, and reporting systems to completely cut out manual data entry.
  • We expanded the PCS platform to include fund management capabilities so it could handle all accounting, daily pricing, and regulatory reporting.

This all-in-one solution supports a wide range of asset classes, currencies, languages, and jurisdictions. It also automates a whole host of daily tasks, including end-of-day processes, calculating Net Asset Value (NAV), pricing, and generating reports. On top of all that, robust access controls, audit trails, and real-time system integrations ensure everything is secure, transparent, and compliant with regulations.

Business Impact

Unified Operations at Scale

Eurobank is now able to manage its discretionary portfolios, institutional mandates, and over 200 mutual funds across Greece, Cyprus, and Luxembourg all from a single platform and infrastructure. This significantly simplifies their technology landscape and slashes operational expenses.

Increased Efficiency and Risk Reduction

By bringing all the data together and automating workflows, PCS has dramatically reduced the need for manual work, leading to higher productivity and lower operational risk. Daily valuations, portfolio monitoring, and reporting are now carried out consistently and efficiently across the entire organization.

Support for Growth and Market Leadership

With over 15 billion euros in assets under management (covering own funds, third-party funds, and discretionary portfolios), the PCS platform provides a flexible and scalable foundation. This means Eurobank can easily onboard new clients, products, and even enter new jurisdictions without having to introduce any new systems.

Regulatory Readiness and Transparency

PCS ensures that Eurobank is fully compliant with local and international regulatory requirements, including UCITS, while offering real-time visibility into portfolio status, valuations, and historical data.