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Mandiri picks Avaloq Banking Suite to enhance its wealth management unit

Indotelko
Indotelko - Wed, 20 Nov 2019 08:38
Dilihat: 46
Mandiri picks Avaloq Banking Suite to enhance its wealth management unit

JAKARTA (IndoTelko) - PT Bank Mandiri Tbk (BMRI) has selected the Avaloq Banking Suite to run its US$14 billion AUM wealth management division.

The mandate, which Avaloq won after a highly competitive tender process, further increases the Swiss fintech's Asia-Pacific client base and comes aftera number of high-profileregional client wins and expanded partnerships in 2019.

Bank Mandiri wealth management division, which has around 50,000 clients overseen by 20 private banking relationship managers and in excess of 200 priority banking managers, is forecast to grow assets under managementby 30% bythe end of 2020.

Avaloq has been selected to help the bank capitalise on market opportunities and the need for enhanced, digital-led service capabilities.

Bank Mandiri's Wealth Management division currently depends on several systems to support areas such as mutual fund and securities processing as well as customer portfolio views.

The Avaloq Banking Suite will allow the institution to bring all areas, including CRM, onto one platform, delivering powerful scale benefits and greater data analyticsat better cost.

Avaloq has continued to expand in the Asia-Pacific region, winning new clients and expanding existing relationships as all financial institutions look to take advantage of the powerful, competitive benefits that digital processes and cloud-based business models can deliver.

Avaloq's regional clients include DBS Bank, Maybankand KasikornBank in South East Asia as well as Agricultural Bank of China, China Industrial Bank and China CITIC Bank International in North Asia.

Managing Director for Business and Network at Bank Mandiri Hery Gunardi, said: "The Avaloq Banking Suite greatly impressed us withits powerful capabilities and a clear ability to meet our complex needs in the key wealth management segment. This is a fundamental part of our wider growth strategy and it is, therefore, very important that we work with best-of-breed partners. The Indonesian banking market is undergoing profound growth and we are very well positioned to benefit from this opportunity.

"Pascal Foehn,Avaloq Executive Board Sponsor for Asia and Avaloq Group COO, said: "We are delighted to have won the very competitive, highly prestigioustender to help Bank Mandiri consolidateand enhance its digital infrastructure, and meet its customer-focused ambitions in the wealth management segment. Allowing institutions to radically change how they manage and deliver product and service offerings across different segments and different business lines is a core benefit of the Avaloq Banking Suite.We believe Avaloq offersone ofthe best wealth management platformsin the market and we look forward to working further with new and existing financial services groups globally as they embrace the hi-tech business environment."


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Sumber: Indotelko

Mandiri picks Avaloq Banking Suite to enhance its wealth management unit

Mandiri picks Avaloq Banking Suite to enhance its wealth management unit

Mandiri picks Avaloq Banking Suite to enhance its wealth management unit

Mandiri picks Avaloq Banking Suite to enhance its wealth management unit

Mandiri picks Avaloq Banking Suite to enhance its wealth management unit

  
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