Avaloq, a global leader in digital banking solutions, core banking software and wealth management technology, has won this prestigious award today for the third time after 2017 and 2019.
Showcasing ‘best of breed’ providers in the global private banking, wealth management and trusted advisor communities, the WealthBriefing Swiss Awards recognize companies, teams and individuals that demonstrated innovation and excellence during 2020. The awards series, this year in its eighth annual edition, is organized by London-based ClearView Financial Media. ClearView publishes the international Family Wealth Report group of newswires, along with research reports and newsletters, while also running a global thought-leadership events programme.
For the 2021 programme, the award’s judges commented on the strength of Avaloq’s submission, highlighting the evidence the firm provided on reversals and efficiency as well as the emphasis on the importance of both data integrity and speed. In addition, the ‘feedback loop’, which provides for the continuous improvement of ‘straight-through processing’, coupled with Avaloq’s market-leading data model were especially robust.
Juerg Hunziker, Avaloq’s Group CEO, said: “It’s very encouraging to start 2021 with this prestigious award in our home market, Switzerland. Avaloq is committed to drive innovation in digital banking globally, building a value proposition that meets the highest service and transactional demands of our growing list of clients across the world. Indeed, we have become a fundamental partner for our clients, helping them to out-compete and grow in a fast-changing, dynamic wealth management sector.”
Bahamas-based Capital Union Bank has gone live with Avaloq’s Web Banking and is upgrading its core banking system with new modules and features based on joint innovation with Avaloq, a leading provider of wealth management technology. The new web banking (eBanking) solution will further improve client interaction and engagement while the enhanced Avaloq Core Platform will support the bank’s continued growth and the seamless roll-out of innovative products and services.
Avaloq, a subsidiary of NEC Corporation, and BlackRock, through its Aladdin Wealth business, have formed a strategic partnership aimed at enhancing their investment technology solutions for wealth managers and private banks. As part of the strategic partnership, BlackRock is making a minority investment in Avaloq.
Vienna-based paybox Bank, a subsidiary of A1 Telekom Austria, is migrating its operations to the Avaloq Core Platform to drive the expansion of its business and to create a comprehensive suite of banking services. With this agreement, paybox Bank has the flexibility to expand into any business area as a licensed online bank, with the ability to efficiently scale as its client base continues to grow.
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