Ortec Finance, a Dutch market-leading provider of quantitative modeling software for the global wealth management sector, joined Avaloq’s Software Exchange platform, following the steps made by Thomson Reuters and UnaVista.
Avaloq’s Software Exchange connects the banks in the Avaloq Community with providers of specialist digital banking solutions.
Ortec Finance is specialized in goal-based wealth planning and financial planning solutions that can be tailored for individual markets. Its OPAL product is very successful in jurisdictions where regulation such as the Retail Distribution Review and MiFID II has had a significant impact on the wealth management sector.
The Avaloq Software Exchange was launched in September 2015 as an online marketplace that aims to offer software solutions with additional functionality to support increased client engagement, ensure consistent client experience and drive the potential of new business opportunities. Open to current and future Avaloq partners including fintech firms and financial institutions, all products on the Avaloq Software Exchange integrate with the Avaloq platform. The entire Avaloq Community, consisting of 158 banks worldwide which manage assets worth around $4 trillion using Avaloq solutions.
“We’re delighted to be partnering with Avaloq and to be given the opportunity to engage with the financial institutions in the Avaloq Community. Goal-based wealth planning and financial planning has become a key tenet of the product and service propositions banks and wealth managers want to offer their clients, and Ortec Finance is at the center of this market shift”, said Iwan Schafthuizen, MD Business Development Private Client Solutions of Ortec Finance. “Our OPAL product is a leading solution in building individual client journeys for advisers and/or their clients and can be delivered with a User Interface, as an API or in a combination for hybrid solutions, allowing for quick market access and strong client engagement.”
Thomas Beck, Group CTO for Avaloq, commented: “Partnering with the best fintech firms is fundamental to the Avaloq ethos and the continued success of the Avaloq Software Exchange. Ortec Finance offers a truly compelling proposition and we’re delighted the firm has become our latest partner on the exchange. Avaloq will continue to invest, innovate and grow in 2018 across our target sectors and markets, driven by the market-leading solutions we offer our customers as they look for a competitive advantage.”