The latest technology news in the wealth management sector from around the world.
CMB Monaco
Monaco-based private bank CMB Monaco, part of
Milan-headquartered Mediobanca, has migrated its operations to
the technology platform of Avaloq and Aladdin Wealth™. As
well as streamlining the bank’s value chain across the
front, middle and back office, this marks an important step in
CMB Monaco’s digital transformation, strengthening operational
efficiency, enhancing service quality and supporting the
expansion of its international private banking business.
CMB Monaco said it is using the strengths of Avaloq and BlackRock
Aladdin® to transform its operations and client engagement.
Onboarding to the Avaloq and Aladdin Wealth technology platform
will enable CMB Monaco to access streamlined workflows
across core and digital banking, as well as client and portfolio
management. This joint solution provides the bank’s relationship
and investment managers with portfolio management capabilities,
including tailored investment proposals, scenario analyses and
advanced risk analytics, to drive greater personalisation at
scale and boost productivity.
The migration is also strengthening the bank’s cybersecurity
– Avaloq is able to offer advanced protection mechanisms,
secure-by-design architecture and ongoing updates to safeguard
client data and transactions. CMB Monaco is also using Avaloq
Banking Operations to streamline back-office processes, including
AI-led automation for corporate actions.
CMB Monaco also benefits from Aladdin Wealth’s
institutional-grade risk analytics, enabling portfolio insights
and sophisticated proposal construction across all asset classes
for exceptional advisory services.
In addition, clients of CMB Monaco have access to an intuitive
digital experience via Avaloq’s web and mobile banking solutions,
featuring tailored dashboards, advanced portfolio visualisation,
customisable alerts, conversational banking capabilities and the
latest authentication standards for enhanced security.
“Our partnership with Avaloq and BlackRock Aladdin marks a
significant milestone in our digital transformation.” Francesco
Grosoli, CEO at CMB Monaco, said. “By adopting their integrated
platform, we are increasing productivity across our operations
and modernising our systems to deliver an outstanding digital
experience – especially for a new generation of investors.”
“Wealth managers today are moving beyond the traditional 60-40
portfolio, delivering personalised portfolios that span public
and private assets,” Zachary Lerner, head of international
Aladdin Wealth Tech, BlackRock, added. “As the first go-live of
the joint Avaloq and Aladdin Wealth solution, we are proud to
bring our offering to CMB Monaco, one of the region’s most
distinguished private banks, to help them deliver a truly
frictionless client experience.”
This news service recently caught up with Grosoli
in Monaco to find out about the latest developments in the
sector, his own business and the challenges of the economy,
modern technology, and talent management.
FNZ
FNZ, a global wealth
management platform, has launched FNZ Select, a new premium
proposition providing clients with enhanced service levels,
advanced capabilities and additional platform support. This forms
part of a tiered approach to partnering with clients globally,
the firm said in a statement. Select clients will also benefit
from faster speed to market and increased output enabled by FNZ’s
new operating model.
“FNZ Select is a premium service that sets our clients up for
long-term success,” Roman Regelman, group president, FNZ, said.
“It harmonises and aligns our value proposition with market
practices and offers exceptional value to clients. This tiered
structure will strengthen our relationships globally and give
clients greater clarity and choice.”
