The Avaloq group invests in its solutions offering for the wealth management sector. The international fintech company launches a stand-alone digital advisory solution for wealth management that can be implemented and integrated into other core banking solutions.
The new offering for wealth management will be delivered both with a web-based user interface and via open API (Application Programming Interface) and is therefore available to wealth managers and private banks using other core banking solutions. The Avaloq wealth management solution is being developed based on Avaloq’s unmatched expertise in the industry: the Avaloq Banking Suite is used to manage client assets worth more than USD 4,000 bn.
The first solution is already released, enabling goal based wealth management. This will now be extended in the next phase by adding a risk-based investment advisory solution.
The new Avaloq offering provides financial institutions with the tools needed for state of the art digital advisory services in a multi-channel environment. The solution leverages Avaloq’s integrated suitability framework, facilitating regulatory compliance across channels, client segments and jurisdictions.
“The solution we are building is highly sophisticated and offers functional elements that are directly tailored to wealth management. It embraces and extends Avaloq’s current offering and on top of that, we are making the solution available to all financial institutions, regardless of the core banking system they are using,” explains Thomas Beck, Group CTO at Avaloq.