back Back

Avaloq and Blackrock partner to advance investment tech for banks

By Gloria Methri

June 14, 2023

  • Aladdin Wealth
  • Avaloq
  • Blackrock
Share

Avaloq, Blackrock, Wealth Management, Private Banking, Aladdin Wealth, Investment Technology, FinTech, SwitzerlandAvaloq, a subsidiary of NEC Corporation, and BlackRock, through its Aladdin Wealth business, have entered a partnership aimed at enhancing their investment technology solutions for wealth managers and private banks. As part of the partnership, BlackRock is making a minority investment in Avaloq.

This collaboration will enable wealth managers and private banks to enhance their operations throughout the client journey, encompassing onboarding, portfolio construction, client reporting, and risk management.

By combining Avaloq’s core banking, client relationship management, and mobile banking services with the Aladdin Wealth platform’s robust risk analytics and portfolio management capabilities, the two firms aim to deliver advanced technology offerings available to the wealth industry.

“Avaloq is excited to enter into this strategic partnership with BlackRock. Through our relationship with BlackRock and the integration of their Aladdin Wealth capabilities, Avaloq is further solidifying our commitment to providing innovative investment technology solutions for the wealth management industry,” said Martin Greweldinger, Co-CEO of Avaloq. “This partnership will help us empower our clients to streamline processes, enhance risk analytics, and make more informed portfolio decisions, ultimately delivering greater value to their clients.”

“BlackRock and Avaloq joining forces will help clients reduce the complexity and friction inherent in many of today’s digital transformations. Our combined offering will make it extremely convenient for clients to implement and adopt Aladdin Wealth’s industry-leading capabilities as it will be deeply integrated with Avaloq’s core banking solutions,” said Venu Krishnamurthy, Global Head of Aladdin Wealth Tech.

“We are delighted to have BlackRock’s investment in Avaloq as it demonstrates their recognition of the value and potential of Avaloq’s wealth management technology solutions,” said Tomoki Kubo, Chairman at Avaloq, as well as Corporate SVP and Head of the Digital Finance Global Business Unit. “This collaboration will not only fortify NEC’s strengthened position in the realm of digital finance but also reinforce its unwavering commitment to orchestrating a brighter world. NEC looks forward to working with BlackRock to grow the Avaloq business.”

Previous Article

June 14, 2023

ZainTech partners with Mastercard to provide AI/ML solutions to businesses

Read More
Next Article

June 14, 2023

Oracle unveils 4 cloud-based services to help banks mitigate fraud

Read More






IBSi Daily News Analysis

June 13, 2024

Aladdin Wealth

Are payroll and financial statement fraud dual challenges facing UK SMEs?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Flexys partners with Acquired.com for debt collection

Read More

June 12, 2024

SaaScada renews partnership with NEXA for financial reporting

Read More

June 12, 2024

Ozone API & Tuum team to accelerate open banking worldwide

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023