Technology Awards 2021 – Best Integrated Front Office Solution

2021 Winners


Best Integrated Front Office Solution


Pascal Wengi
managing director North Asia, Avaloq

We are extremely honoured to receive this award in recognition of the strength of our team and our solutions. Our innovative front-office technologies enhance the role of RMs and bring financial institutions and their clients closer together. Avaloq helps financial institutions to address the changing needs of investors, who are increasingly demanding digital services via mobile devices and access to the latest financial products such as digital assets.

Our integrated front-office products include Avaloq Engage, which enables financial institutions to set up web and mobile banking. The Engage App satisfies the emerging demand for conversational banking. Investors can write to their RM via WhatsApp or WeChat, while the Avaloq Engage App creates a secure environment for reliable record-keeping with a direct link to CRM data and online banking.

In addition, we have developed RM Cockpit, which facilitates real-time portfolio modelling and visualisation during meetings between RMs and investors.

Our solutions are supported by advanced AI systems to quickly process vast quantities of data and market feeds, with natural language processing (NLP) to understand investor intent, which helps RMs to respond more quickly to investor requests by prompting best next actions.

We enable financial institutions to capture new client segments with well-integrated technology that covers back-, middle- and front-office functions.

For the second year in a row, Avaloq was deemed the provider of the Best Integrated Front Office Solution at Asian Private Banker’s Technology Awards.

Last year marked a key period for Avaloq, since it was the first full year following its acquisition by Japanese technology group NEC. However, the vendor’s submission clearly highlighted Avaloq’s ongoing commitment to enhancing its platform and deepening an already substantial presence in Asia-Pacific.

Digital innovation has been under the spotlight since the start of the COVID-19 pandemic, and this is one area where Avaloq has excelled in product enhancements. One key component of this was Avaloq Engage, launched in late 2020, which allows RMs to interact with their clients via social media channels such as WhatsApp, while remaining regulatory compliant. The technology’s virtual assistant, which is powered by natural language processing, analyses client messages in real-time and then swiftly provides relevant responses to specific queries.

During the period under consideration for the Technology Awards, Avaloq scored a number of prominent client wins in the region. Haitong International deployed the vendor’s specialised wealth solutions for its operations in Hong Kong and Singapore, while Avaloq reached similar agreements with Taiwan’s CTBC Bank and Fubon Bank. The deals with the Taiwanese banks include both their onshore businesses on the island and their offshore operations in Hong Kong and Singapore.

While initially focusing on KYC, CRM, regulatory compliance and product management, the deployment with Fubon Bank should eventually enable faster time to market for the Taiwanese lender’s investment solutions, as well as its onshore and offshore wealth offerings.

That is why Avaloq is Asian Private Banker’s 2021 winner of the Technology Award for Best Integrated Front Office Solution.