BlackRock, Avaloq to Provide Tech Solutions, Addressing Needs of Wealth Managers

Avaloq, a subsidiary of NEC Corporation, and BlackRock, through its Aladdin Wealth business, have formed a strategic partnership aimed at enhancing their investment technology solutions for wealth managers and private banks.

As part of the strategic partnership, BlackRock is making “a minority investment in Avaloq.”

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

By combining Avaloq’s leading 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 one of the most advanced technology offerings available to the wealth industry.”

Martin Greweldinger, Co-CEO of Avaloq, said:

“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. 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.”

Venu Krishnamurthy, Global Head of Aladdin Wealth Tech, said:

“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.”

Wealth management clients in Europe and Asia will “benefit from access to an integrated wealth tech platform that unlocks the entire value chain” including:

  • Digital portals that enhance the client experience
  • Comprehensive client reporting, powerful onboarding, and risk profiling tools
  • Scaled portfolio construction capability and advanced portfolio analytics technology
  • Unified data model providing consistency throughout client journeys

Avaloq is described as “an industry-leading provider of wealth management technology, offering best-in-class front-to-back software and services for financial institutions around the world.”

Its robust systems currently “manage around $4 trillion of client assets.”

BlackRock’s Aladdin Wealth platform “provides sophisticated risk analytics and portfolio management capabilities that help wealth management clients scale their business efficiently, manage risks, build better portfolios, and enrich the dialogue with clients around their investments.”

Tomoki Kubo, Chairman at Avaloq, as well as Corporate SVP and Head of the Digital Finance Global Business Unit, said:

“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. 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.”

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