Spain-based Bankia has chosen the on-premises solution from Avaloq to grow its wealth management business.
This is Avaloq’s first Spanish banking client. The partnership is a new project investing in Bankia investment management capabilities with Avaloq.
Go deeper with GlobalData
Bankia’s three-year strategic plan involves the bank increasing assets under management from mass affluent clients, complemented with new investment management and advisory products. Bankia is the fifth bank with operations in Spain to become an Avaloq client after Banco Alcalá, Banque Pictet & Cie, Banque privée Edmond de Rothschild and Julius Bär.
Ignacio Ezquiaga Dominguez, corporate director of asset management and private banking at Bankia, said: “Our decision to appoint Avaloq to provide on-premises solutions is a big step forward in our digital-led growth journey and our aspiration to be the leading provider of wealth management services in Spain. The nature of financial services is changing, and changing fast, and it is apparent that only the most digitally robust institutions will be able to compete and grow in this new environment.”
Uwe Krakau, general manager and regional head for EMEA at Avaloq, said: “We are absolutely delighted that Bankia, one of Spain’s leading financial institutions, has chosen Avaloq’s powerful solution to accelerate its wealth ambitions for all client segments. As a company, we believe in turning the democratisation of wealth management into a practical reality by helping our clients deliver cost efficient and user-led experiences to all their customers, and we greatly look forward to leveraging our expertise to support Bankia’s growth ambitions in an increasingly competitive investment management market.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe newly launched function will offer segment specific services. It will offer services in the areas of strategy, target operating model, process management, and optimisation.
It will also cover areas such as channel management as well as business-, data- and application architecture services.
