Avaloq and BlackRock, through its Aladdin Wealth business, have agreed on a strategic partnership to enhance investment technology solutions for wealth managers and private banks.

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

Furthermore, combining Avaloq’s core banking, client relationship management and mobile banking services with BlackRock’s Aladdin Wealth risk analytics should make an advanced offering.

In addition, wealth management clients in Europe and Asia will gain:

  • Digital portals;
  • Comprehensive client reporting, powerful onboarding and risk profiling tools;
  • Scaled portfolio construction capability and advanced portfolio tech, and
  • A unified data model providing consistency throughout client journeys.

“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.

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“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.”