Bank Negara Indonesia scales up wealth management business with Avaloq
Jakarta-based Bank Negara Indonesia (BNI) is migrating to the Avaloq Core Platform to support the success of its Wealth Management Division. Avaloq will enable the bank to digitalize key business processes and meet the needs of the country’s growing wealth management and private banking clients.
BNI is one of Indonesia’s largest and most renowned financial institutions. The bank’s wealth management business has experienced significant growth in its client base and assets under management over the past few years. With the Avaloq Core Platform, BNI can efficiently scale its operations as the business expands, while enhancing the productivity and advisory function of its relationship managers through new client relationship management and portfolio management capabilities. In the meantime, the new end-to-end solution will help the bank to continuously improve the high level of service offered to its discerning wealth management clientele.
The Avaloq Core Platform enables banks and wealth managers to standardize and streamline in their front, middle and back office, and minimize manual processing with high straight-through-processing (STP) rates. Avaloq’s core banking technology covers essential elements such as trading and payments, compliance, tax and accounting, with specialized modules for major asset classes and investment products.
Henny Eugenia, Senior Vice President and General Manager of Wealth and Emerald Private Bank at BNI, said: “With Avaloq, we can rely on a leader in digital banking software with extensive expertise in wealth management and a strong track record in Southeast Asia. By migrating to the Avaloq Core Platform, we can further digitalize our operations for the continued future growth of our wealth management business. This is an exciting time for wealth management in Indonesia, and we are proud to be at the forefront of innovation in the sector. Our partnership with Avaloq will help us in our mission to provide excellent services and digital solutions to all customers as the primary partner of choice.”
Gery Dachlan, Managing Director South Asia and Australia at Avaloq, said: “We are delighted that BNI is migrating its wealth management platform to our end-to-end banking solution. BNI has a long history and strong reputation in Indonesia, and we have shared commitments to sustainable business growth, enhanced digital innovation and client experience. With this new partnership, we look forward to supporting BNI in serving the country’s growing client base
and driving digitalization in Indonesia’s wealth management sector.”