Demand for professional investment advice is rising across Asia even as the industry faces an acute talent shortage. Seven in ten investors already have an assigned wealth adviser, and more than four in ten of those without one say they want one. As wealth creation accelerates across the region, institutions must not only grow their talent pools but also augment every individual through technology and data.
The expanded agreement covers three areas: enterprise growth, co-innovation, and capability building exchange. DBS and Avaloq will explore broader deployment of the Avaloq platform across DBS' markets and business lines, tailored to different local conditions. The two firms will also develop capabilities spanning digital platforms, products, execution, and future wealth management models.
Skills development forms a third pillar of the collaboration. By combining DBS' talent base with Avaloq's technology expertise, the partnership will support learning programmes, knowledge-sharing sessions, and cross-functional exchanges intended to equip advisers for an increasingly technology-enabled industry.
Avaloq serves more than 170 financial institutions globally, providing front-to-back software and services through cloud-based SaaS, on-premises, and business-process-as-a-service models. A subsidiary of NEC Corporation, it has worked alongside DBS for eighteen years. DBS is the leading financial services group in Asia, present in nineteen markets and rated 'AA-' and 'Aa1' by the major credit agencies.
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