Avaloq launches Avaloq Insight for Advanced Data Science and AI in Wealth Management
Avaloq has announced the launch of Avaloq Insight, a real-time data science cloud platform providing wealth managers and financial advisers with advanced levels of analytics.
The new platform is designed to drive customer satisfaction and increase sales effectiveness based on big data technology, the firm said in a press release.
Avaloq Insight is built on an open, modular platform that minimises complexity by integrating data input from various sources. Its advanced data science workbench, interactive data visualisation and business intelligence experience makes integrated analytics accessible, even for non-technical users. It provides a range of pre-trained machine learning and artificial intelligence (AI) models, which are designed to reduce the complexity of data science and accelerate the deployment of new data driven solutions.
Personalised AI-powered advice is facilitated through a virtual assistant, which helps to understand a client’s specific needs and respond rapidly. A recommender solution analyses patterns in data to calculate a client’s likely affinity to an investment and helps the investor to find new investment opportunities. It increases the likelihood of clients accepting investment proposals, saves advisers time through better client preparation and identifies potential new mandates. Avaloq Insight is completed with an innovative, interactive data visualisation and business intelligence solution as well as a comprehensive data science toolbox to perform your own analysis and data projects. The newly launched platform provides AI models that leverage the combined expertise of the global Avaloq Community.
Gery Zollinger, Product Manager – Avaloq Insight, said: “Advanced data analytics have become the key driver for gaining a competitive advantage in the wealth management sector. Avaloq Insight harnesses the power of big data technology and allows wealth managers to offer a hyper-personalised and data-driven service to clients. Our platform’s machine learning models benefit from Avaloq’s vast experience and expertise in the financial industry but are also able to offer recommendations tailored to each individual client, which ultimately gives wealth managers a distinct edge.”
Martin Greweldinger, Group Chief Product Officer, Avaloq, said: “The global wealth management industry is witnessing a paradigm shift driven by a new generation of tech-savvy wealth owners with a high demand for personalised, seamless digital solutions. The Avaloq Insight platform is designed to help banks and wealth managers offer a superior, digital-led, impactful experience that surpasses each client’s individual needs through the use of advanced data analytics and AI-powered personalised consultancy.”
The roll-out of Avaloq Insight complements the recent launch of Avaloq Wealth and Avaloq Engage. These three innovative platforms represent Avaloq’s new stand-alone, core-agnostic suite of digital banking products, providing end-to-end solutions that will help democratise wealth management.
Recommended news