UK-based wealth management firm, Brewin Dolphin has selected Avaloq‘s Software as a Service (SaaS) solution, in a bid to transform its back-office infrastructure. The partnership is expected to enhance the firm’s digital capabilities, capitalising on the benefits of Avaloq’s solutions.

Grant Parkinson, Chief Operating Officer of Brewin Dolphin said “We have created a high calibre team who have built a detailed implementation plan to deliver this programme. The Avaloq system will provide us with a solid foundation for future growth. It gives us a significant opportunity to increase straight-through-processing, improve the efficiency of handling client accounts and reduce operational risk. It will also be the basis from which we will deliver future client propositions.”

According to the supplier, the SaaS solution enables Avaloq to provide a mixture of optional third-party add-ons such as regulatory reporting and pricing and asset data feeds software services to over 150 institutions. The model facilitates savings, lower operating risk and an optimally configured software.

Jonathan Davis, UK Managing Director at Avaloq, added: “We believe our understanding of the UK wealth management and private banking sector is second to none. Our SaaS solution will work seamlessly with Brewin Dolphin’s middle and front office technology, delivering efficiencies as well as faster processing, richer analytics and true service innovation.”

Recently, UK-based wealth manager Smith & Williamson selected Avaloq’s SaaS solution in order to rapidly roll out new, adaptable products and services to its clients.

by Megha Bhattacharya
Market Analyst at IBS Intelligence