Praemium announces staged transition to new core technology platform

Praemium Limited (ASX: PPS) has announced a staged transition to a new core technology platform to support its evolving wealth management solutions and client needs. The move is part of the company’s broader strategy to enhance operational efficiency and scalability, particularly as demand for sophisticated wealth management tools continues to grow among financial advisers and high-net-worth investors.

The transition will be implemented in phases to ensure minimal disruption to Praemium’s services and clients. The company has previously demonstrated its commitment to technological advancement, including the acquisition of Technotia Laboratories to accelerate AI innovation and automation. This acquisition is expected to play a key role in the development and integration of the new platform.

Praemium’s Spectrum platform, which integrates SMA capability, modern IDPS functions, and API connectivity, has already demonstrated strong performance, surpassing $3.2 billion in funds under administration. The new core technology platform is anticipated to further enhance Praemium’s ability to deliver high-efficiency workflows and advanced portfolio management capabilities.

The company has not disclosed specific timelines for the full implementation but emphasized that the transition will be closely managed to maintain service continuity and client satisfaction.