Avaloq has announced the launch of a data analytics solution which is expected to assist banks and wealth managers in gaining transparency on the impact of bespoke pricing for individual clients. The solution, named ‘Cost & Fee Analytics solution’ forms a part of and extends Avaloq’s Cost & Fee suite. The supplier has stated that the new solution aims to assist the financial institutions in enhancing their client service, incorporate better designs and manage revenues.

Martin Greweldinger, Chief Product Officer at Avaloq, said, “Cost & Fee Analytics supports financial institutions to increase transparency within their organization as well as towards end clients. It helps front-line staff to deliver better and faster service to their clients, particularly sophisticated high net worth ones that want bespoke solutions. Underpinning the new solution, as well as our wider Cost & Fee offering components, are granular levels of data and powerful data analytics, which enable banks and wealth managers to rapidly recognize and leverage pricing opportunities.”

According to the supplier, the solution has been devised to support the front office, especially Relationship managers in their work of negotiating discounts and process renewal. It recognizes pricing opportunities, helps to manage regulations such as MiFID II or FIDLEG and provides an evaluation of the impact of potential discounts and to report decisions back to clients.

The Cost & Fee Management suite is, reportedly, based on a core application that supports the calculation and booking of complex transaction costs and periodic fees. The suite also comprises of a Cost Profile solution that is expected to allow the operation teams to set and change tariffs and a Fee Designer solution that enables to model periodic fee runs.

Recently, Zurich-based algorithmic trading software provider AlgoTrader partnered with Avaloq in a bid to create a global digital asset management ecosystem for enabling banks and financial intermediaries to adapt to the evolving tokenized securities and digital asset industry.

by Megha Bhattacharya
Market Analyst at IBS Intelligence