Avaloq releases cost and fee analytics offering
Avaloq has launched a data analytics solution aimed at helping advisers gain transparency on the impact of bespoke pricing for individual clients, as well as support financial institutions to improve the overall client experience.
The fintech said the analytics solution also allows financial institutions to better design and control revenues. The new Cost & Fee Analytics solution complements and extends Avaloq’s established Cost & Fee suite. It was presented at Avaloq’s recent community conferences in Zurich and Singapore and is now available for Avaloq clients.
“Cost & Fee Analytics has been designed to support front office staff that interact with clients such as relationship managers when it comes to the discount negotiation and renewal process,” the company said in a statement.
“It has been launched at a time when prices are increasingly under review by clients and price negotiation, particularly for high-net-worth and ultra-high-net-worth clients, has become commonplace.”
The solution helps to rapidly recognise pricing opportunities and at the same time helps manage regulations such as MiFID II or FIDLEG which demand better oversight and comprehensive audit trails with regards to client fees.
“Using data analytics, the new solution allows institutions to deliver a precise, transparent evaluation of the impact of potential discounts and to report decisions back to clients in a far quicker time as a means to strengthen client relationships and loyalty. It simulates new discounts or product offerings using historic client data with the real price model, all seamlessly integrated into the Avaloq platform,” the company said.
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Source: Avaloq releases cost and fee analytics offering – ifa
