What happens next?
The big news to come in the first half of 2020 is the release of our brand-new platforms, Avaloq Wealth, Avaloq Engage and Avaloq Insights.
As announced at our community conferences in 2019, we will see the first release of the new standalone wealth management platform, Avaloq Wealth. This provides the new functionality needed to allow clients to widen and scale up their advisory business, while still offering the high level of personalization required for upper client segments.
Avaloq Wealth makes the democratization of wealth management a practical reality. The next 12 months will see the delivery of persona-driven functionality for travelling relationship managers, first focusing on giving them the right information at their fingertips, then giving them the ability to edit data on the go and use the tool for issuing transactions. This will bring with it fully-fledged advisory workplace functionality and, at a later stage, the extra functionality needed for discretionary portfolio management.
Avaloq Engage, our new standalone engagement platform, will also be launched in the first half of 2020. It gives our clients the ability to offer both clients and employees superb interfaces and user experiences. Engage will integrate different communication channels, including instant messaging and co-browsing, to improve the interaction between advisory clients and financial institutions, blending banking and wealth management seamlessly and unobtrusively into clients’ everyday lives.
Both Wealth and Engage, as well as Avaloq Core, will be augmented in the next six months with new services based on our new data and analytics platform, Avaloq Insights. This supports better, data-driven decision-making, understanding and segmentation of clients as well as anticipating client queries by linking Avaloq Core’s enterprise-wide object model with data from the other platforms and with external data.
The two-year perspective
In the next 24 months, our clear priority is the continued development of all our platforms. For Avaloq Wealth, this means introducing customized reporting capabilities for each client, deeper integration of marketing and campaign management capabilities and a standalone onboarding solution.
For Avaloq Engage, we will be integrating the use of natural language processing and AI to improve interactions between relationship managers and their clients and incorporating client behaviour data to help our advisers provide more relevant investment proposals for each individual’s situation.
From a service perspective, the roadmap is clear about what we should do next. We will continue to increase the efficiency of the back-office services offered to our clients, aiming at our vision of an (almost) human-free back office. We will follow the path already taken with our recent acquisition of Derivative Partners, adding new higher-value offerings to our service portfolio. Alongside our leading back-office service offering, we will introduce new services for selected mid- and front-office activities. We will also be leveraging our extensive experience in design thinking – a radical culture shift within Avaloq that has brought major benefits over the last two or three years – to help our clients by offering them design thinking workshops covering a wide range of key topics.
Our planned activities strongly support our vision of the democratization of wealth management and our determination to help our clients delight both their staff and clients with a leading user experience, while steadily improving overall efficiency in the front- and back-office environments.
At the same time, we will not forget our heritage. We will ensure that all our solutions honour Avaloq’s traditional values: rock-solid information security, unfailingly dependable compliance, unmatched data consistency, scalability, front-to-back integration, open access to innovative and complementary fintech solutions and, of course, unsurpassed levels of efficiency.