Brewin Dolphin, one of the UK’s largest wealth managers with £34.9 billion in discretionary funds under management, has selected Avaloq to transform its back office infrastructure through Avaloq’s Software as a Service (SaaS) solution. The project will significantly enhance Brewin Dolphin’s digital capabilities at a time of increasing market competition and a need by all financial institutions to capitalise on the powerful benefits that cloud-based SaaS technologies can deliver.
Avaloq was awarded the contract after an extensive selection process by Brewin Dolphin, and further underscores the Swiss-based fintech’s ability to work with large, sophisticated wealth management firms and private banks to transform their technological infrastructure across the back, middle and front office. The appointment follows the recently intensified collaboration with UK wealth manager Smith & Williamson which chose Avaloq’s SaaS solution, and complements other UK clients such as Coutts and Canaccord Genuity Wealth Management.
Avaloq is one of the world’s leading providers of SaaS and Business Process as a Service (BPaaS) solutions to financial services institutions such as private banks and wealth managers. With SaaS, Avaloq delivers its software at scale, using its experience of working with more than 150 institutions globally to refine and adjust a standard set of industrial-grade, best-in-class, compliance-ready processes that can be made available to institutions that need them, based on a single consistent data model.
Grant Parkinson, Chief Operating Officer of Brewin Dolphin said “We have created a high-calibre team who have built a detailed implementation plan to deliver this programme. The Avaloq system will provide us with a solid foundation for future growth. It gives us significant opportunity to increase straight-through-processing, improve the efficiency of handling client accounts and reduce operational risk. It will also be the basis from which we will deliver future client propositions.”
Paco Hauser, General Manager EMEA at Avaloq, said: “We are delighted to announce Brewin Dolphin as our latest UK wealth management client. This illustrates again our ability to work with large, tier 1 institutions as they look to truly benefit from solutions such as SaaS and BPaaS in a rapidly changing market environment.”
Jonathan Davis, UK Managing Director at Avaloq, added: “We believe our understanding of the UK wealth management and private banking sector is second to none. Our SaaS solution will work seamlessly with Brewin Dolphin’s middle and front office technology, delivering efficiencies as well as faster processing, richer analytics and true service innovation.”
Avaloq recently reported strong results for 2018 driven by continued demand for the firm’s SaaS, BPaaS and on-premise solutions from new and existing clients and accelerated growth in markets such as the UK and the wider EMEA region. Overall, the firm generated full-year revenues of CHF579 million, a year-on-year rise of 6% on an underlying basis. New wealth management clients and projects either won or completed in 2018 included Pictet Group, Intesa Sanpaolo Private Bank Suisse, Deutsche Bank Luxembourg, Edmond de Rothschild and Smith & Williamson.
The bank will build on Avaloq’s platform to refine client solutions and accelerate its technology-led growth plansThe bank will build on Avaloq’s platform to refine client solutions and accelerate its technology-led growth plans..
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..
We have noticed, that your browser language is Japanese and you have tried to access our global website avaloq.com. Please note, that we provide a Japanese version of our website with a localized offering.
By clicking the "accept" button, you agree to be redirected to the localized Japanese version of this website avaloq.com/ja-jp. If you would like to stay on the global website, please click "cancel" or the close button "X".