JAKARTA - PT Bank Negara Indonesia (Persero) Tbk or BNI has formed a partnership with Avaloq to improve the wealth management business.
With the Avaloq Core Platform, BNI will digitize major business processes, and meet the growing expansion needs of the wealth management business and Private Banking clients in the country.
BNI Senior Vice President and General Manager of Wealth and Emerald Private Bank Henny Eugenia said, as one of the largest banks in Indonesia, the BNI wealth management business has experienced significant growth in the client and asset bases managed in recent years.
"Together with the Avaloq Core Platform, BNI can improve its operations efficiently in line with business development, while increasing the productivity and function of advisory relationship managers through the capability of client relationship management and portfolio management," he said in Jakarta, Friday, November 4.
Meanwhile, he continued, this new solution will help BNI increase the high level of service for wealth management clients.
He added that the Avaloq Core Platform allows banks and wealth managers to standardize and simplify processes on their fronts, middle and back office, and minimize manual processes with a high Straight Through Processing (STP) level.
The Avaloq Core Platform includes essential elements such as trade and payment, compliance, tax and accounting, with specific modules for major asset classes and investment products.
"With Avaloq, we can rely on digital banking software expertise with broad expertise in wealth management and a strong track record in Southeast Asia," he continued.
By migrating to the Avaloq Core Platform, he continued, BNI can further digitize its operations for the growth of a sustainable wealth management business in the future.
Avaloq South Asia and Australia's Managing Director, Gery Dachlan, said that his party welcomed BNI's decision to integrate wealth management platforms into end-to-end banking solutions for Avaloq.
"With this new partnership, we hope to support BNI in serving the growing client base in this country and encouraging digitization in the wealth management sector of Indonesia," he concluded.
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