CMB Monaco deploys integrated Avaloq and Aladdin Wealth platform

CMB Monaco has gone live on the integrated Avaloq and Aladdin Wealth platform, streamlining its front-to-back office operations.

The transition provides the bank with a unified platform that supports workflows across various banking functions, including digital operations, client management, and investment portfolio oversight.

The technology offers bank staff access to portfolio management tools such as investment proposal generation, scenario modelling, and risk analysis.

Both Avaloq and Aladdin Wealth feature open architectures, enabling connections to third-party services and supporting the development of new banking features.

The platform is cloud-based and delivered as software as a service (SaaS), aimed at maintaining regulatory compliance while streamlining growth initiatives.

The implementation also includes new cybersecurity measures, with safeguards designed by Avaloq for data protection and maintaining secure transactions.

Back-office operations at CMB Monaco now employ Avaloq Banking Operations, with artificial intelligence used to automate tasks such as handling corporate actions.

The Aladdin Wealth system adds expanded risk analytics, offering insights across asset classes for client advisory work.

As part of this technology upgrade, CMB Monaco is the first European institution to introduce the Gen AI-powered “Auto Commentary” tool on the Aladdin Wealth platform.

This feature summarises portfolio data and individual investment preferences into concise information for advisers to use in client discussions.

Clients have also been provided with updated digital banking channels through Avaloq’s web and mobile interfaces, which include features such as dashboard customisation, portfolio visualisation tools, alerts, conversational banking interactions, and enhanced security protocols.

CMB Monaco CEO Francesco Grosoli said: “Our partnership with Avaloq and BlackRock Aladdin marks a significant milestone in our digital transformation. By adopting their integrated platform, we are increasing productivity across our operations and modernizing our systems to deliver an outstanding digital experience – especially for a new generation of investors.”

“CMB Monaco deploys integrated Avaloq and Aladdin Wealth platform” was originally created and published by Private Banker International, a GlobalData owned brand.

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