Wealth manager Brewin Dolphin has selected Avaloq to transform its back office infrastructure through Avaloq's Software as a Service (SaaS) solution.
The project will significantly enhance Brewin Dolphin's digital capabilities at a time of increasing market competition and a need by all financial institutions to capitalise on the powerful benefits that cloud-based SaaS technologies can deliver.
The appointment follows the recently intensified collaboration with UK wealth manager Smith & Williamson which chose Avaloq's SaaS solution, and complements other UK clients such as Coutts and Canaccord Genuity Wealth Management.
With SaaS, Avaloq delivers its software at scale, using its experience of working with more than 150 institutions globally to refine and adjust a standard set of industrial-grade, best-in-class, compliance-ready processes that can be made available to institutions that need them, based on a single consistent data model.
Grant Parkinson, Chief Operating Officer of Brewin Dolphin said "The Avaloq system will provide us with a solid foundation for future growth. It gives us significant opportunity to increase straight-through-processing, improve the efficiency of handling client accounts and reduce operational risk. It will also be the basis from which we will deliver future client propositions."