Global fintech Avaloq has again been recognized as a Leader in the 2019 NelsonHall NEAT vendor evaluation for Wealth & Asset Management Services, one of the most comprehensive such assessments globally. This is the second major award given to Avaloq in the past few months for its wealth management capabilities. In September it was named Overall Winner in the 2019 XCelent European Wealth Management Technology Vendors report - Europe’s most influential market accolade and further testament to the market-leading capabilities of the Avaloq Banking Suite.
In the 2019 NelsonHall NEAT vendor evaluation, Avaloq was noted as a Leader for its cloud delivery capabilities in multiple geographies, experience in leading wealth and asset management markets across the entire range of institutions, and its modular proprietary software platform supported by a large ecosystem of solutions and services partners.
Jürg Hunziker, Avaloq’s Group CEO, stated, “We believe that Avaloq is the only Business Process as a Service (BPaaS) provider recognized as a Leader in this assessment whose service is a complete front-to-back wealth management solution combined with back-office services. We see this as a real differentiator for us in the sector.
With the pressures mounting on margins and client retention, banks are not just digitally transforming their core banking platform, they are getting their platform providers such as Avaloq to manage both the IT and back-office operations using their software delivered as SaaS; a model referred to as BPaaS. The result is wealth managers achieving straight-through processing rates that are near 100%, with automation dramatically reducing the risks of human error and delivering compelling improvements in efficiencies”
The NelsonHall Vendor Evaluation & Assessment Tool (NEAT) 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 hosted/ SaaS delivery, professional services, and support for new digital business models. Evaluating vendors on both their ‘ability to deliver immediate benefit’ and their ‘ability to meet client future requirements’, vendors are identified in one of four categories: Leaders, High Achievers, Innovators, and Major Players. Avaloq is one of just five global Leaders in the 2019 report.
Andrew Efstathiou, the author of the Nelson Hall report noted, “Being recognized as a leader in the overall market segment reflects Avaloq’s overall ability to meet future client requirements as well as its ability to deliver immediate benefits to wealth and asset management services clients today. Avaloq’s growing traction with its clients indicates that it should be able to continue to expand existing engagements to include more BPaaS services supporting wealth and asset management transformation.”
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