Australian wealth manager Crestone live with Avaloq Banking Suite
Cretonne is “starting a new conversation in wealth management” underpinned by Avaloq tech
Crestone, a wealth management business created out of UBS Wealth Management Australia, is now open for business, underpinned by Avaloq’s flagship core banking system.
Avaloq Banking Suite supports front-to-back office operations of Crestone, multi-asset and multi-currency.
Peter Scott, the vendor’s GM for Asia Pacific, says that Crestone was among the first users to apply Avaloq Banking Standards to the project, which reduced the implementation to under nine months and “delivered excellent results”.
This is the second live site for Avaloq in Australia, the first being a wealth management subsidiary of Westpac, BT Financial Group.
Mike Chisholm, CEO for Crestone, comments that the vendor’s “innovative and scalable technology was a perfect fit for Crestone”. He adds that the company “did a thorough review of the market” before settling for Avaloq Banking Suite.
“The appeal of working with Avaloq is its ability to support a genuine global investment universe. It is future ready technology and its commitment to continued development of the IT software,” he states.
