Technology Awards 2023 – Best Core Banking Solution

Best Core Banking Solution

 

Avaloq

Best Core Banking Solution

Pascal Wengi

managing director for Asia Pacific, the Middle East and Africa

I am honoured that Avaloq has won the award for Best Core Banking Solution. The Avaloq Core Platform enables financial institutions to build and scale their entire front-to-back office, catering to the needs of every client segment while driving the digital transformation of the financial industry.

In recent years, we have grown together with our clients in Asia by offering a specialised core platform to help them expand their wealth management capabilities. This enables them to better serve the region’s growing affluent and high-net-worth segments.

Avaloq’s clients benefit from enhanced operational efficiency through automated workflows, resulting in high straight-through processing and service accuracy rates. Moreover, thanks to our unified data model, banks and wealth managers can seamlessly expand into new jurisdictions and rapidly integrate acquired business units.

I am proud that our clients can rely on Avaloq to enhance their digital capabilities in wealth management at scale. This latest recognition reflects our unwavering commitment to their success

What was behind the judges’ decision?

  • Avaloq secured several significant client wins during the period under review, including in the Philippines and Brunei. In addition, the company’s flagship platform also went live with wealth management institutions in Indonesia, the Philippines, Hong Kong and Taiwan
  • Despite an already market-leading position in the Asian wealth management space, the company has continued to make significant investments in its platform, with new services including e-tax statements and functionalities relevant to artificial intelligence, blockchain, machine learning and OTC contracts
  • Avaloq has also upgraded its proposition as a front-to-back wealth technology solution by partnering with BlackRock’s Aladdin Wealth in June 2023. Following this agreement, wealth clients in Asia get access to new risk management and portfolio management capabilities

What we said

“Avaloq’s victory in the category of Best Core Banking Solution at the Asian Private Banker Technology Awards for the second year running is a testament to the company’s position at the cutting-edge of wealth management technology,” said Daniel Shane, editor of Asian Private Banker and chair of the Technology Awards judging panel.

“Avaloq boasts a 100% success rate in client implementations, and its track record in Asia was further bolstered in 2023 following several key client wins in the wealth management industry. Not content to rest on its laurels, the company has also integrated a number of key new features to its proposition, further enhancing its value to regional clients.”


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