Comarch Consulting

HELPING WEALTH MANAGERS AND CLIENTS MAKE SMART CHOICES

Grzegorz Prosowicz, Director, Comarch Consulting, and Przemysław Drzymała, EVP of Global Sales, talk to WealthBriefing Group Editor Tom Burroughes.

What are the main contributions you think you’re bringing to the wealth management industry?

Prosowicz: This year’s category confirms that AI, or machine learning to be exact, may open new opportunities to banking and wealth management. Today, capturing, understanding, and interpreting data is no longer an issue from a technical standpoint. The real challenge comes from strict regulations in the industry and even more from customers’ resistance to share their personal data. Blending personal and private data, along with personalising everything at any time, happens to be very difficult and vague at most.

Our main focus this year was the challenge that most clients and advisors face: how to select the right product from a myriad available and how to choose the right time for it in a reality of constantly changing market conditions? The models that we employ help to rank products and build the most optimal portfolios. Clients are the ultimate beneficiary, but it also helps RMs and CIO to build model portfolios and give recommendations.

On top of that you add compliance requirements, client preferences, bank policies - all that to deliver an offer in line with client expectations.

Please explain what you think makes your firm successful in its chosen field.

I think there is a couple of factors, and you need to consider all of them: domain knowledge in investment area, cross-industry experiences related to machine learning technologies, strong footprint in wealth management business, and understanding the everyday needs of financial institutions and their clients. In the end, you need a strong team of experts to test and validate most relevant models that must absorb millions of data points from the past decades: macro projections and real scores, factors related to interest rates, commodity prices, stock indices, currencies, behavior, and biases of stocks or ETFs.

Where in the world do you operate – are you mainly a domestic player or international one?

Drzymała: Comarch is a global IT company with business operations in over 90 offices in more than 30 countries across six regions Europe, Middle East, Asia, Australia, North and South America. The Middle East region is strategically important for the company. We have been operating and implementing IT projects here since 2000. A year later the company was established in Dubai and opened its office there.

In 2019 we opened a new local Data Center located in Dubai (which operates alongside 13 others worldwide). We also decided to open a new subsidiary in Riyadh.

Can you outline the philosophy that encapsulates your firm and you the best?

From the very beginning, Comarch’s philosophy remains firmly based on three pillars: product innovation, business diversification, and individual approach to customer.

The company focuses on helping customers with digital transformation projects, building, and delivering its proprietary software only for selected business domains, trying to make them bestin-class by empowering with domain knowledge and expertise.

What makes the company strong and helped us become resistant to global crises is business diversification in many dimensions - offering different products globally to different geographical regions, addressing varying industries, and various sizes of customers.

Comarch carries out projects for the leading brands in the most important sectors of the economy, including among others Financial Services, Telecommunication, Trade and Services, Public Administration, and Healthcare. In the case of the Financial Services industry, these are primarily solutions for Wealth Management, Open Banking Platforms, Loyalty and Customer Engagement Management, Business Intelligence, or Cyber Security.

Last but not least, what still distinguishes us from others is individual approach to our clients.

Grzegorz Prosowicz

Director, Comarch Consulting

INNOVATIVE USE OF ARTIFICIAL INTELLIGENCE WINNER Comarch