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Wealth Management Terms

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Wealth Management and WealthTech is a constantly changing landscape. It can be hard to keep up. Our handy glossary has been designed to help you get to grips with some of the words and terms you might come across – with short, straight-forward definitions. We hope you find it useful.

Back Office

What is a back office in wealth management? The back office relates to the section of a wealth management firm or private bank is made up of non-client facing employees such as administration and support personnel. Often, back-office functions include settlements, clearances, record maintenance and accounting. Typically, wealth management firms refer to the teams responsible for supporting client management as front office, middle office. and back office

Banking Act

What is the Banking Act? The Banking Act refers to legislation in Singapore that governs banking business and related activities.

Big Data

What is big data? Big data refers to large sets of data that can be analysed computationally to reveal patterns, trends, and associations, often used to enhance risk assessment and customer profiling in financial services.
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