Pune: Avaloq hosted its inaugural Avaloq India Community Connect event in Pune, bringing together top financial and technology leaders to explore the future of digital transformation in wealth management.
Since its entry into the Indian market in 2019, Avaloq has established a strong presence in Pune, expanding its team to over 170 professionals specializing in project delivery, product development, banking operations, cloud technology, and corporate services.
The event provided an interactive forum for discussions on key trends shaping the financial services sector, with participation from major institutions such as NatWest, HSBC, Barclays, Deutsche Bank, DBS, Accenture, Infosys, HCLTech, Synpulse, TecFinics, and Tech Mahindra.
Key Themes Discussed
India’s Growing Wealth and Investment Needs
India's financial wealth is projected to expand significantly, driven by economic growth, rising affluence, and an increasing demand for professional financial advisory services. Avaloq highlighted how digitalization is enabling financial institutions to cater to this evolving landscape with specialized wealth management solutions.
Cloud Transformation and AI Integration
The adoption of cloud-based solutions is revolutionizing the wealth management industry, allowing financial institutions to enhance operational efficiency and scalability. Additionally, Avaloq emphasized how AI-driven technologies, in collaboration with NEC Corporation, are optimizing operations and delivering personalized client experiences.
Operational Efficiency and System Integration
As financial institutions diversify their services, many rely on multiple standalone technology solutions. However, this fragmented approach can lead to inefficiencies and increased operational costs. Avaloq stressed the importance of consolidating financial technology systems into integrated platforms with harmonized data, streamlining processes and improving cost efficiency.
Anirban Mukherjee, Managing Director for India at Avaloq, stated: "India’s wealth management sector is undergoing a rapid transformation. While mass-market digital banking has been the primary focus, the rise in the country’s affluent population is creating an increasing demand for personalized, technology-driven wealth management solutions. Avaloq aims to equip financial institutions with the tools needed to cater to this growing segment."
Pascal Wengi, Managing Director for Region International at Avaloq, added: "As India's economy grows and wealth management needs become more sophisticated, technology will play a pivotal role in delivering seamless, personalized, and efficient financial services. With 40 years of expertise in wealth management technology, Avaloq remains committed to supporting financial institutions in enhancing their service offerings."