Avaloq received the award for Outstanding Wealth Management Technology Provider for the Avaloq Banking Suite, which offers a fully integrated, modular solution of back, middle and front office functionalities for banks and wealth managers.
The win is the latest coup in a string of recent achievements for Avaloq, which includes strong business growth as a result of significant customer wins across Europe and a number of award successes.
Avaloq’s CEO, Francisco Fernandez, who gave a presentation at the event on the imperative of change within the sector, pinpoints Avaloq’s success on its passion for innovation and continued investment in research and development.
Francisco Fernandez says, “The financial services industry is changing at a rapid pace due to the ever-evolving expectations and needs of customers, the marketplace and regulators. It is imperative that the challenges created by these changes are recognised and understood. In doing so, solutions can be found to support the continued growth of wealth managers and banks across the globe.
“Innovation is key to finding such solutions and this is where the important role played by the industry’s suppliers comes into the spotlight. We’re proud of the fact that Avaloq invests such a significant proportion of its product revenues back into R&D, enabling us to continually drive innovation. Our track record of supplying industry-leading solutions coupled with recent business and award wins are a clear testament to the success of our investment.”
The winners of the PBI Awards were announced during the Private Banking Conference at the Waldorf Astoria in London’s West End. The event brought together a host of private banks, independent wealth managers and intermediaries in a discussion on the key issues facing the industry and the importance of developing new strategies, business practices and partnerships to meet the challenges of implementing innovative technological solutions.
Chris Longden, managing director of Avaloq UK, accepted the award on behalf of the company. He adds, “Avaloq is delighted to be awarded this latest accolade. The annual PBI Awards, which only began last year, are quickly becoming a notable date on the industry calendar, not only for recognising key accomplishments in the sector but also for driving debate that will fuel continued innovation, success and growth in the industry.”
Meghna Mukerjee, editor of Private Banker International and panel judge was impressed with Avaloq’s solutions, “Avaloq has one of the strongest technologies dedicated to wealth management and private banking and the company boasts a rich portfolio of customers. The Avaloq Banking Suite provides customised, state-of-the-art business solutions, allowing end-to-end coverage of processes, with maximum operational efficiency and flexibility, as well as improved cost structures.”