Avaloq has been named a Leader in the Wealth Management Operations Services PEAK Matrix Assessment 2020 by Everest Group. The assessment, an objective, industry-recognized evaluation of technology companies in the wealth management space, is used by financial services institutions to make critical decisions about global services providers.
Companies were analysed based on two broad themes: their market impact and their vision and capability. Market impact scores include value delivered to clients based on customer feedback and transformational impact as well as revenues and number of clients. Vision and capability scores take into account the depth and breadth of services as well as innovation and investment in areas such as technology IP, industry knowledge and alliances. Avaloq achieved the highest rating overall in terms of market impact of any of the companies analysed by Everest Group.
Based on fully integrated banking software, Avaloq creates powerful digital solutions for banks and wealth managers through BPaaS (Business Process as a Service), providing highly automated built-for-purpose business services, and SaaS (Software as a Service), leveraging cloud computing. The PEAK Matrix Assessment 2020 follows a number of major industry accolades that Avaloq has received in recent months. In November 2019, it was recognized as a “Leader” in wealth management solutions in the 2019 NelsonHall NEAT report; in September, Avaloq was named “Overall Winner” in the 2019 XCelent European Wealth Management Technology Vendors report.
At the start of April, Avaloq, a pioneer in digital banking solutions, core banking software as well as software as a service and business process as a service solutions, posted record full-year revenues of CHF 609 million for 2019. The company saw a significant number of successful “go-lives” and new client wins last year, with strong growth in the Asia-Pacific wealth management sector.
Juerg Hunziker, Avaloq’s Group CEO, said: “We firmly believe that Avaloq offers the very best wealth management product and service suite, and it is great to have this independently tested and verified by Everest Group. We expect the digitization of the wealth management sector and the industry trends in BPaaS to accelerate further in 2020 and are confident that Avaloq will be viewed as the partner of choice as financial institutions look to optimize efficiencies, drive down costs and capitalize on the powerful benefits that come with digital operating models.”
Digital technologies such as cloud-based operating models, artificial intelligence, data analytics and automation will significantly enhance front, middle and back office processes at banks and wealth managers, resulting in a more personalized, smarter and more efficient client experience
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