Avaloq has been recognized as an Overall Leader in the 2021 NelsonHall NEAT vendor evaluation for Wealth & Asset Management Services, one of the most comprehensive of such assessments globally. The firm has also been named a Leader in the Hosting/BPS market segment, which includes Software as a Service (SaaS) and Business Process as a Service (BPaaS) capabilities.
NelsonHall’s Evaluation & Assessment Tool (NEAT) is a proven, analysis-led market appraisal through which strategic sourcing managers can evaluate outsourcing vendors. Leaders are vendors that exhibit both a high ability relative to their peers to deliver immediate benefit and a high capability relative to their peers to meet future client requirements. Avaloq is one of just six Leaders in the 2021 report.
The NEAT tool sits at the front end of the vendor screening process and consists of a two-axis model: assessing vendors against their “ability to deliver immediate benefit” to buy-side organizations and their “ability to meet clients’ future requirements”. It assesses the capability of vendors across a range of criteria and business situations and identifies the best performing vendors overall, and with specific capability around SaaS/BPaaS delivery, professional services, and support for new digital business models.
Avaloq was noted as a Leader this year for its strong SaaS and BPaaS delivery capabilities in multiple geographies, enhanced with multi-geography ITS delivery capabilities from NEC, experience in leading wealth and asset management markets across the entire range of institutions, its modular proprietary open software platform supported by a large ecosystem of solutions and services partners, as well as strong compliance capabilities.
Andy Efstathiou, Director of NelsonHall’s Banking Operations & Transformation practice, said: “In positioning Avaloq as a leader in wealth and asset management services, the company’s strong digital solution portfolio, broad geographic reach, and depth of offering were taken into account. In addition, Avaloq’s IT services and partner ecosystem provide strong capabilities across consulting, implementation and managed services.”
Thomas Beck, co-CEO/Chief Development and Technology Officer at Avaloq Group, said: “This latest NEAT assessment underscores the global success of Avaloq’s products and services in helping wealth managers and banks capitalize on the shift to digital business models. In particular, Avaloq’s continued leadership in SaaS and BPaaS is a result of our holistic front-to-back wealth management solutions. With our support, leading financial institutions are benefiting from very high levels of efficiencies, significant straight-through processing rates and an ability to scale their market proposition to new client segments and growth opportunities.”
Avaloq today announced that it has signed a multi-year contract with the Geneva-based private bank to continue their partnership in the fields of core banking solutions and back-office operations. With Avaloq’s technology, S.P. Hinduja Banque Privée is now entering the open banking space.
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