In partnership with Avaloq, Liechtenstein-based worldwide personal financial institution LGT has applied a brand new commonplace to provide monetary intermediaries real-time entry to funding positions and transaction knowledge.
The brand new commonplace, OpenWealth API, was applied in collaboration with Synpulse8, the mixing specialist of Synpulse.
Primarily based in Switzerland, Avaloq gained Better of Present at FinovateAsia 2018.
In collaboration with Avaloq and Synpulse8, Liechtenstein-based personal financial institution LGT has applied a brand new commonplace that can make it simpler to offer monetary intermediaries with real-time entry to LGT’s funding positions and transaction knowledge. The brand new commonplace known as OpenWealth API and can assist the custodian financial institution higher serve its buyer base of unbiased asset managers, multi-family workplaces, and fund firms with personalized funding options, private recommendation, and quick order processing.
“With this newest joint innovation, LGT is taking a number one function in serving to to create a extra interconnected monetary market whereas enhancing the worth that monetary intermediaries ship for his or her buyers,” Avaloq Chief Expertise Officer Martin Büchi defined.
The partnership between Avaloq and LGT extends again almost 20 years, when the financial institution first adopted Avaloq’s core banking answer, Avaloq Core. The OpenWealth implementation was carried out in partnership with expertise and integration specialist Synpulse8, a division of Synpulse. Synpulse is the founder and orchestrator of the OpenWealth Affiliation, the standardization physique for OpenWealth. The standardized connectivity made potential by OpenWealth will decrease operational dangers for financials and empowers intermediaries to maintain their platforms up to date with extra well timed and correct knowledge than might be offered through each day batch processing.
“The standardized answer will be certain that our companions have entry to the newest knowledge to raised serve their purchasers,” LGT Financial institution AG Government Board member Markus Werner stated. “We sit up for strengthening our long-term partnership with Avaloq within the coming years and to persevering with our joint improvement actions for enhanced connectivity with monetary intermediaries globally.”
Based in 1985, Avaloq offers expertise options to non-public banks and wealth managers, funding managers, retail and industrial banks, in addition to challenger and neobanks. The Switzerland-based firm gained Better of Present at FinovateAsia 2018, and has since grown into a global monetary companies options supplier with greater than 160 purchasers in 35 international locations and $4.4 trillion (CHF 4 trillion) in shopper property managed by Avaloq software program.
The corporate’s signature answer is Avaloq Core, a core banking answer for personal banks and wealth managers. Avaloq additionally presents three standalone digital merchandise traces: Avaloq Interact, Avaloq Wealth, and Avaloq Perception. Avaloq Interact helps establishments increase shopper engagement. Avaloq Wealth helps your complete shopper journey in wealth administration from prospect to trusted relationship. Avaloq Perception presents technical and enterprise customers entry to insightful knowledge from their banking programs. Avaloq was acquired by Japan-based NEC Company within the fall of 2020.
This spring, Avaloq introduced the retirement of Co-CEO Thomas Beck, with Martin Greweldinger taking up the function of Avaloq Group CEO. Beck had served as Co-CEO with Greweldinger because the spring of 2021, having joined the corporate in 2012.
Photograph by Ondrej Bocek on Unsplash
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