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Avaloq - Transforming Wealth and Asset Management Services

Vendor Analysis

by Andy Efstathiou

published on Jul 16, 2019

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Report Overview:

This NelsonHall assessment analyzes Avaloq's offerings and capabilities in Transforming Wealth and Asset Management Services

Who is this Report for:

NelsonHall’s Transforming Wealth and Asset Management Services Vendor Assessment for Avaloq is a comprehensive assessment of Avaloq’s Wealth and Asset Management Services offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Wealth and Asset Management Services RFPs
  • Vendor marketing, sales and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the support services sector.

Scope of this Report:

The report provides a comprehensive and objective analysis of Wealth and Asset Management services offerings, capabilities, and market and financial strength, including:

  • Identification of the company’s strategy, emphases and new developments
  • Analysis of the company’s strengths, weaknesses and outlook
  • Revenue estimates
  • Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
  • Analysis of the company’s offerings and key service components
  • Analysis of the company’s delivery organization including the location of delivery locations.

Key Findings & Highlights:

Avaloq was founded to provide a core banking platform, Avaloq Banking Suite, with comprehensive functionality to the banks. The platform was originally designed for the Swiss market and has an emphasis on wealth and investment management capabilities. Avaloq uses its own banking platform with all its clients. The platform was initially written in the mid-1990s and is updated semi-annually for the core, with interactive functional updates being made on an on-going basis.

In 2011, Avaloq expanded its services into BPS by acquiring a 51% stake in B-Source, offering banking BPS services exclusively on the Avaloq software. In 2016, Avaloq acquired 100% ownership in B-Source, which was then rebranded Avaloq Sourcing Switzerland and Liechtenstein. Today, Avaloq owns two additional BPS centers in Germany and Singapore.

Five years ago, Avaloq extended its offerings to include omnichannel functionality spanning PC and mobile devices. Today, the company has a strong focus on creating an open platform to support the ongoing development of functionality by both Avaloq and other 3rd parties. Open solution development has been supported through architectural changes to the Avaloq platform to enable external development via the creation of a set of standard REST APIs to ease integration to 3rd party software components. Today, Avaloq has partnerships with ~100 external software vendors to extend the scope of capabilities of its platform. All Avaloq’s clients use some or all the FinTech functionality available on its platform.

Starting in 2015, Avaloq formed a 50:50 joint partnership (Arizon) with Raiffeisen to migrate their 253 separate banks, from their existing individual IBM platforms, onto a single Avaloq instance. At the same time Arizon was created to provide centralized back-office support to all the banks. In early 2019, with the project deemed a success, Raiffeisen chose to acquire Avaloq’s 50% stake and bring the operation fully in-house, ending the BPaaS partnership but retaining the platform and approach.

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Outlook

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