ZURICH – June 14, 2023 – Avaloq, a subsidiary of NEC Corporation, and BlackRock, via its Aladdin Wealth enterprise, have shaped a strategic partnership aimed toward enhancing their funding expertise options for wealth managers and personal banks. As a part of the strategic partnership, BlackRock is making a minority funding in Avaloq.

This collaboration will allow wealth managers and personal banks to boost their operations all through the complete shopper journey, encompassing onboarding, portfolio development, shopper reporting and danger administration. By combining Avaloq’s main core banking, shopper relationship administration and cellular banking providers with the Aladdin Wealth platform’s sturdy danger analytics and portfolio administration capabilities, the 2 companies intention to ship one of the vital superior expertise choices obtainable to the wealth {industry}.

“Avaloq is worked up to enter into this strategic partnership with BlackRock. Through our relationship with BlackRock and the mixing of their Aladdin Wealth capabilities, Avaloq is additional solidifying our dedication to offering progressive funding expertise options for the wealth administration {industry},” mentioned Martin Greweldinger, Co-CEO of Avaloq. “This partnership will help us empower our clients to streamline processes, enhance risk analytics, and make more informed portfolio decisions, ultimately delivering greater value to their clients.”

“BlackRock and Avaloq joining forces will help clients reduce the complexity and friction inherent in many of today’s digital transformations. Our combined offering will make it extremely convenient for clients to implement and adopt Aladdin Wealth’s industry-leading capabilities as it will be deeply integrated with Avaloq’s core banking solutions,” mentioned Venu Krishnamurthy, Global Head of Aladdin Wealth Tech.

Wealth administration purchasers in Europe and Asia will profit from entry to an built-in wealth tech platform that unlocks the complete worth chain together with:

• Digital portals that improve the shopper expertise
• Comprehensive shopper reporting, highly effective onboarding, and danger profiling instruments
• Scaled portfolio development functionality and superior portfolio analytics expertise
• Unified knowledge mannequin offering consistency all through shopper journeys

Avaloq is an industry-leading supplier of wealth administration expertise, providing best-in-class front-to-back software program and providers for monetary establishments world wide. Its sturdy techniques at present handle round $4 trillion of shopper belongings. BlackRock’s Aladdin Wealth platform supplies subtle danger analytics and portfolio administration capabilities that assist wealth administration purchasers scale their enterprise effectively, handle dangers, construct higher portfolios, and enrich the dialogue with purchasers round their investments.

“We are delighted to have BlackRock’s investment in Avaloq as it demonstrates their recognition of the value and potential of Avaloq’s wealth management technology solutions,” said Tomoki Kubo, Chairman at Avaloq, as well as Corporate SVP and Head of the Digital Finance Global Business Unit. “This collaboration will not only fortify NEC’s strengthened position in the realm of digital finance but also reinforce its unwavering commitment to orchestrating a brighter world. NEC looks forward to working with BlackRock to grow the Avaloq business.”

About Avaloq

Avaloq is a premium supplier of front-to-back software program and providers for monetary establishments world wide. Our purchasers embrace personal banks, wealth managers and funding managers, in addition to retail and neo banks. We develop software program that may be deployed flexibly via cloud-based Software as a Service (SaaS) or on-premises, and we provide Banking Operations via our Business Process as a Service (BPaaS) mannequin. Avaloq is a subsidiary of NEC Corporation, a worldwide chief within the integration of IT and community applied sciences. www.avaloq.com

About NEC Corporation

NEC Corporation has established itself as a pacesetter within the integration of IT and community applied sciences whereas selling the model assertion of “Orchestrating a brighter world.” NEC allows companies and communities to adapt to fast modifications going down in each society and the market because it supplies for the social values of security, safety, equity and effectivity to advertise a extra sustainable world the place everybody has the possibility to succeed in their full potential. For extra info, go to NEC at www.nec.com