Technology plays an important role in keeping financial services and our economy running. Ensuring the continued operation and accessibility of financial systems has been a critical focus during the COVID19 pandemic. As financial services firms face unprecedented challenges, fintechs like Chelmer who have invested in continuously evolving their tech, are proving to be a source of confidence and stability for the industry.
As one of New Zealand’s leading fintech providers, Chelmer supports the operational needs of investment and wealth management firms across Asia Pacific. With over NZD 40B of investor assets under management, their platform transacts hundreds of millions of dollars every day.
Robust, reliable and flexible technology and support has always been crucial for this sector – with the need to manage complex financial transactions, large data volumes and high-value assets. Chelmer CEO, Alin Ungureanu says it’s something they’ve prioritised since inception, and this enabled clients to scale with significant 300% increases in trading activity during March and April, due to the market turmoil brought on by the COVID crisis.
“Our ability to scale and adapt quickly to the changing environment can be attributed to the robust infrastructure, systems and processes we’ve put in place, and continuous refinements we’ve made to our software suite over the last 30 years.”
“Technology needs ongoing development” said Alin. “It’s a long-term investment, and although it’s largely invisible, it’s a fraction of the cost that would incur if underlying infrastructure fails. It means we (and our clients) can be prepared for unexpected circumstances.”
While operating under these conditions and the team working remotely during lockdown, Chelmer also successfully completed a major software upgrade for Yovich & Co Wealth Management. The new solution automated and optimised core processes, and supported remote working being accessible via the cloud. The upgrade went live two days after New Zealand went into Level 4 lockdown.
Yovich & Co Director, Jarrod Goodall said it was an incredibly challenging environment to go live, however their trust in Chelmer and the tech gave them confidence to proceed. They were not only busy advising clients and transitioning into remote working for the first time, they were also about to implement a new system in some of the most volatile markets on record.
It wasn’t a decision we made lightly, however we knew it was for the best, and we had Chelmer’s full support throughout the process” said Jarrod. “Once live, we were able to realise the benefits of the upgrade, and these have been critical to our service delivery during lockdown.”
“Our biggest priority was being able to continue to operate business-as-usual and support our clients. We were able to do that seamlessly, and with greater efficiency and flexibility than before.”
As a technology provider, Chelmer’s role during this crisis is to be a source of stability for their clients. “Our aim” says Alin, “is to give them confidence and surety in their operations, so they can focus on helping their clients retain their financial wellbeing.”