Avaloq, a key player in private banking, wealth management and investment management technology, has opened its new regional office in the Dubai International Financial Centre (DIFC).
The launch follows the signing of InvestGB, the wealth and investment management arm of Gulf Bank, and the recent addition of another major client in the Gulf Cooperation Council (GCC) area.
The new office marks a key milestone in Avaloq’s international growth. Through this expansion, Avaloq seeks to support the region’s financial institutions in navigating evolving investor needs and industry challenges. With its robust local presence and new regional partnerships, Avaloq is set to accelerate the digital transformation of financial services across the GCC region.
Avaloq’s specialized core platform automates and standardizes processes across front, middle and back-office operations, while its open architecture enables the smooth integration of innovative third-party services. With its built-in automation, the platform enables financial institutions to achieve high service accuracy and straight-through processing (STP) rates, resulting in greater operational efficiency.
Additionally, Avaloq’s front-office technology, along with its web and mobile banking platforms, supports firms in creating an enhanced experience for both clients and advisers.
The GCC region has emerged as a highly attractive region for wealth management, buoyed by ongoing economic diversification and a growing affluent population. The launch of Avaloq’s Dubai office highlights the company’s confidence in the region’s potential and its commitment to driving innovation and digital transformation in financial services.
Avaloq’s solutions will play a crucial role in enabling the region’s financial institutions to boost the benefits of digitalization, better serve their clients in the long term and reinforce the GCC’s position as a hub for wealth management and investment management.
Akash Anand, Head of Middle East and Africa at Avaloq, added that, “The GCC is a dynamic and fast-growing market for private banking, wealth management and investment management. We are excited to establish a strong local presence in Dubai, allowing us to work even more closely with the region’s leading financial institutions as the Middle East’s wealth and investment management sector continues to mature. Our platform and services will help harmonize their technology ecosystems, enabling them to deliver better value for their clients while driving their long-term success and strengthening their competitive edge.”
