Aiviq, a cloud-based SaaS business for the global asset management industry, will provide AllianceBernstein (AB) with client assets under management (AUM) and flow data management products and services, through a new deal.
This multi-year deal will see Aiviq licence its AUM and flow data management platform to AB, as well as provide several enterprise AUM and flow data sets via its managed service offering.
These services will allow AllianceBernstein, a global investment management firm with $647bn in client assets under management, to standardise a diverse range of AUM and flow data sources across its European funds business. This will support its reporting and analytics requirements across sales, marketing, client service and business management.
Speaking on the partnership, Aiviq executive director Greg Glass said, “AB’s investment in the Aiviq platform is evidence of the accelerating trend in the asset management industry to gain competitive advantage by exploiting data more creatively.
“AUM & flow data describing a client’s economic footprint is one of the most valuable and under exploited data sets in the industry. AB has created a definitive Customer Book of Record (CBOR) that can be used to support use cases across the enterprise in sales, marketing, finance, strategy and beyond. We are delighted with the partnership with AB and we look forward to collaborating closely in the years to come.”
Aiviq, which is headquartered in the UK, offers AUM flow and revenue analytics products to help clients with sales enablement, financial planning, client service, product development, risk and regulatory reporting and corporate strategy. The FinTech’s mission is to help global investment managers build data clarity and extract insightful management information.
Commenting on the partnership with Aiviq, AB’s head of EMEA Retail Honor Solomon stated the two companies share a culture of collaboration, partnership and co-innovation. With this, they have developed a “highly successful capability together.”
The Aiviq has also become a major part of AB’s global strategy to build data-driven sales capabilities, Solomon added.
AllianceBernstein head of technology and operations Mark Leedham said, “The Aiviq platform’s extensive data model, and expansive library of data quality rules, allows us to accurately map the role of key participants in the investor eco system to a given transaction or holding. This capability enables us to reconcile client AUM and ‘flow to fund’ accounting data and use sophisticated data matching techniques.”
AB offers research and diversified investment services to institutional high-net-worth and retail investors. It supports various asset classes, investment styles and geographies. These include Luxembourg domiciled global, regional and sector-specific equity funds, multi-asset alternative funds and fixed-income strategies.
In other WealthTech news, Juniper Square has collected $133m in growth capital to support its innovation and market expansion. The company helps GPs and LPs to focus on building relationships by connecting them and fostering improved communications.
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![Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”](https://fintech.global/wp-content/uploads/2024/04/rupixen-Q59HmzK38eQ-unsplash-2-218x150.jpg "Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK")
