UK-based financial services firm Smith & Williamson has announced plans to deploy Avaloq’s solution to improve delivery of investment management services to its clients.
The Avaloq Banking Suite includes digital front-to-back technology, application management, IT infrastructure and operational solutions to offer a standardised operating model and greater scalability.
The vendor said that its platform will enable Smith & Williamson to introduce new processes and innovations.
The platform will be deployed with the support of Avaloq partners Orbium and Excelian.
Smith & Williamson co-CEO David Cobb said: “Investing significantly in technology is a key pillar of our five-year strategy and will ensure we remain well positioned for continued growth.
“Avaloq’s solution will be fundamental in helping our people deliver more effectively, in a personalised manner, the investment management services our clients value. By reducing the amount of time our people spend on administration, we can increase the time they spend adding value to client relationships.”
The contract is expected to strengthen Avaloq’s footprint in the UK wealth management industry, where it already serves Canaccord Genuity Wealth Management and Coutts.
Avaloq Group CEO Juerg Hunziker said: “Smith & Williamson is one of the most prestigious investment management brands in the UK and we are absolutely delighted to welcome the company as an Avaloq client.”