Avaloq partners with InvestSuite to bring automated investment storytelling to its open banking marketplace
The new fintech in the Avaloq.one Ecosystem offers a unique digital investment solution, StoryTeller, to extend the Avaloq offering and help financial institutions accelerate their digital wealth management transformation.
InvestSuite is a Belgium-based fintech with offices in Warsaw, London, Madrid, Copenhagen, Amsterdam and Sydney. The company provides automated investment solutions to help financial institutions retain their clients by addressing their rapidly-evolving digital needs and to defend their market positions against rising fintech disruptors.
The company provides distinct automated investment products for private banks and wealth managers. The StoryTeller explains historical performance of an investment portfolio in understandable language to investors. Benefits include increased customer satisfaction, financial knowledge and trust through personalized insights and higher engagement.
By partnering with InvestSuite, Avaloq is now able to extend its offering with the InvestSuite StoryTeller to its global list of clients comprising of more than 150 leading banking and wealth management players around the world. More than 100 fintechs have already been onboarded to the open banking marketplace Avaloq.one Ecosystem since its launch in 2019.
Founded in 2018 by an experienced team of bankers, computer scientists and product designers, InvestSuite has so far raised a total of EUR 6 million in funding as it is expanding its global market reach with a sales presence in Europe, Latin America, the Middle East and Australia.
Bart Vanhaeren, CEO and co-founder of InvestSuite, said: "We are thrilled to partner with Avaloq, a global leader in digital banking solutions and wealth management technology, to offer our distinguished product suite of modular wealthtech solutions to more clients in new markets. Our cost-effective investment solutions are targeting a broader client base than typical wealth management offerings since many next-generation investors are not willing to pay high advisory and management fees."
Martin Greweldinger, Avaloq Group Chief Product Officer, said: "We are excited to be able to connect Avaloq’s international banking and wealth management clients with InvestSuite’s innovative wealthtech-as-a-service solutions. As end-clients’ level of technological sophistication is rapidly evolving, the demand for digital investment products and superior user experiences is increasing as well. Amidst this trend, agile and personalized solutions such as InvestSuite’s StoryTeller are well placed to pave the way for the democratization of wealth management."
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