Avaloq, the global fintech leader, has been chosen as the provider of the Best Core Banking Platform in the latest Asian Private Banker Technology Awards. The award is the first Avaloq has won in 2020 and follows a strong year of industry recognition in 2019.
In their fifth edition, the Asian Private Banker Technology Awards recognize providers of financial technology solutions that service banking institutions, private banking facilities and wealth managers across Asia for excellence in innovation, execution and business performance. The awards are pitch-based, with all candidates evaluated and the winners chosen based on strict criteria.
Sebastian Enberg, editor at Asian Private Banker, explains the rationale behind this decision: “The importance of choosing the ‘right’ core banking solution from an increasing number of providers in the market cannot be understated. Now more than ever, private banks and wealth managers require a platform that is comprehensive in its capabilities, but also best-in-class on a function-by-function basis. They require a platform that is highly customizable and scaleable according to their requirements across locations, preferred modes of deployment and the fintechs they choose to integrate. And they demand measurable positive impact, whether in terms of top-line growth, cost reduction, banker efficiency/productivity, or time to market for new products.”
Enberg emphasizes further: “Not only does Avaloq emphatically check all these boxes, but it is forging ahead via its application of AI and machine learning — to help banks use their data more intelligently across their businesses — and via a cloud-focused partnership with IBM, which harbours enormous potential. Avaloq's enviable record of business success in Asia in 2019 is clear evidence of the potency and relevance of the solution, and the dedication of the team behind it.”
In 2019, Avaloq was recognized as a leader in wealth management solutions in the 2019 NelsonHall NEAT report and was named Overall Winner in the 2019 XCelent European Wealth Management Technology Vendors report.
Imad Abou Haidar, Head of Avaloq Asia, said: “We are delighted to be recognized for our core banking solutions in the key Asian market. Innovation is at the core of our services, and we pride ourselves in exceeding our client’s aspirations and demands for greater agility, personalization and cost efficiency. This award from Asian Private Banker is yet another acknowledgement of our innovation journey, and we remain committed to driving a new generation of digital banking services.”