The platform currently manages ‘over $30 billion’ in funds and is said to be used by more than 5,000 advisers and 130,000 investors across Australia.The institution, which is the wealth management arm of Westpac, said that ‘expansion’ had prompted a rethink of the platform's backend.“Sharply increasing numbers of customers, funds under administration and transactions have led to the need to scale the Wrap Platform to accommodate the significant growth and the evolving needs of our current and future customer base,” said Paul Spiteri, head of wrap & investment solutions technology at BT Financial Group.The institution used Microsoft partner Avanade to help with the transition.Jeyan Jeevaratnam, VP of business development for Avanade A/NZ said the engagement with BT had been ‘highly successful’ and that the new database was operational within 24 hours of migration.
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