Prior to the introduction of the new system, BT Financial Group “relied upon multiple legacy systems to undertake administration functions”, Avaloq said in a statement, and the roll-out of the new software will allow the company to shift this to a single platform.
Avaloq Asia-Pacific general manager Peter Scott said the roll-out of the administration software would create new opportunities within the application space, and demonstrated the company’s commitment to the Australian market.
“The go-live of our Superannuation functionality within BT is a major step in the completion of the Avaloq wealth proposition for the Australian market. This new functionality will also open potential opportunities for Avaloq in other superannuation pension markets such as the UK and the Netherlands,” he said.
The Australian platform market is “evolving at a very rapid pace” in an effort to meet changing regulation and customer needs, said Avaloq regional director Nick Frolich, and the company is excited to be involved in that process.
“We are pleased to now be able to offer this vital wealth management functionality within the integrated Avaloq Banking Suite,” he said.