Modelling software provider joins Avaloq's platform
Rotterdam-based Ortec Finance, a provider of quantitative modelling software for the global wealth management sector, has become the latest technology firm to join Avaloq’s Software Exchange platform. Ortec Finance joins companies such as Thomson Reuters, Actico and UnaVista on the platform, which looks to connect the banks in the Avaloq Community with providers of specialist digital banking solutions.
Established in 1981, Ortec Finance has become a specialist in goal-based wealth planning and financial planning solutions that can be tailored for individual markets. The firm’s OPAL product is used in jurisdictions where regulation such as the Retail Distribution Review and MiFID II has had a significant impact on the wealth management sector.
Launched in September 2015, the Avaloq Software Exchange is an online marketplace open to current and future Avaloq partners including fintech firms, and financial institutions. The aim is to offer software solutions with additional functionality to support increased client engagement, ensure consistent client experience and drive the potential of new business opportunities. All products on the Avaloq Software Exchange integrate with the Avaloq platform, allowing banks and wealth managers to achieve faster time-to-market for new digital offerings.
The Avaloq Software Exchange offers access to the entire Avaloq Community, consisting of 158 banks worldwide which manage assets worth around $4 trillion using Avaloq solutions.
Iwan Schafthuizen, MD Business Development Private Client Solutions Ortec Finance, said: “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 centre of this market shift. 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.”