The new partnership will drive wealth managers' operational efficiencies, enhancing Avaloq platform's value proposition and driving acquisition. Wealth managers operate in an increasingly complex regulatory environment, with associated compliance costs in recent years. Avaloq's new feature expedites their compliance efforts by providing suitability checks when distributing investment products as well as regulatory guidance on cross-border business activities.
Adding the regtech feature will complement the Avaloq Wealth platform's existing digital tools that automate investment analysis for wealth managers, and likely accelerate its uptake, as we've seen with : Its cloud-powered platform that digitizes financial institutions' account management and compliance processes is reporting rapid adoption.
The added regtech features free up wealth managers' resources to boost their users' experience—another area where Avaloq can help. Wealth management customers are demanding a stronger digital experience. Stay-at-home mandates have forced financial advisors to interact with investors via digital channels, which is their tech shortcomings. By streamlining and cutting compliance costs with Avaloq's solution, wealth managers can redirect their budgets to other areas ripe for digitization.
Avaloq can use the regtech offering to direct new clients to its customer-focused products, increasing sales across the board. Wealth managers first drawn by the new compliance solution can then be exposed to Avaloq's other products beyond the Wealth platform. Its recently launched
good luck
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