RBC Wealth Management (RBCWM), part of Royal Bank of Canada, has expanded its collaboration with wealth management platform Avaloq to move its Asia wealth management platform to the cloud.

Avaloq, which first partnered with RBCWM in 2012, offers its core banking software, as well as its web and mobile products to the Toronto-based wealth manager.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

As part of the latest collaboration, Avaloq will offer a Software as a Service (SaaS) model to enable the RBWM to move its Asia wealth management platform to the cloud.

This SaaS solution will leverage cloud computing to scale up ‘agility, scalability and flexibility’ of RBCWM’s Asia business.

The initiative will add two new front-office solutions, namely, RM Workplace and Investment Advisory, to RBCWM’s wealth management platform in Asia.

These products are designed to help relationship managers and investment advisors to offer personalised investment advice their clients by bringing together Avaloq’s core banking software and new digital platforms.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In addition, RBCWM will rollout Avaloq’s web and mobile offerings for clients of its Hong Kong business.

Synpulse, an existing technology partner of both RBCWM and Avaloq, will support the companies in the new initiative.

Commenting on the development, RBC Wealth Management Asia head Terence Chow said: “By aligning our traditional private banking offering with Avaloq’s new digital platforms, we will be able to optimise the experience for our clients, and support relationship managers in delivering on clients’ financial objectives.”

Avaloq South Asia & Australia managing director Gery Dachlan added: “We are excited to open this new chapter in our successful partnership with RBC Wealth Management. Our innovative products like RM Workplace and Investment Advisory are going to boost the efficiency of relationship managers and investment advisors with powerful tools for personalized, real-time investment advice.”

In July last year, RBCWM tapped fintech firm Broadridge to enhance the digital transformation of its US operations.