Avaloq turns to AI for wealth management

The new cloud platform Avaloq Insight, which provides wealth managers and financial advisors access to big data technology, uses pre-trained machine learning and artificial intelligence models that are designed to reduce the complexity of data science. According to a press release from Avaloq, which is located in Freienbach in the canton of Schwyz, this makes integrated analytics accessible even for non-technical users.

A virtual assistant helps advisors to understand a client’s specific needs and respond rapidly, which increases the likelihood that clients will accept investment proposals. Avaloq Insight is rounded off with an interactive data visualization and business intelligence solution, as well as a data science toolbox that allows advisors to perform their own analysis and data projects.

“Advanced data analytics have become the key driver for gaining a competitive advantage in the wealth management sector,” said Avaloq Insight Product Manager Gary Zollinger.

Group Chief Product Officer at Avaloq, Martin Greweldinger, adds that the Avaloq Insight platform is “designed to help banks and wealth managers to offer a superior, digital-led, impactful experience that surpasses each client’s individual needs”.

The rollout of Avaloq Insight complements the company’s recent launch of Avaloq Wealth and Avaloq Engage. Together, the three platforms represent Avaloq’s core suite of stand-alone digital banking products.