Call for change

A UK wealth management firm, part of a global financial services firm, acquired a leading independent financial advisory group to bolster its wealth management presence in the UK. Already balancing multiple software platforms from previous acquisitions, the firm now faced even greater complexity—since the acquired business was in the early stages of adopting Avaloq for core banking.

Following a review of its systems across the organization, the firm decided to adopt the Avaloq Banking Suite due to its functional coverage, stability and flexibility, as well as its ability to reflect changing regulatory requirements.

The firm requested that we continue this work and partnered with us to extend the integration to the rest of the organization. This technology transformation project would be a key driver for future business expansion and acquisitions. It would also enable the firm to increase its product offerings and straight-through processing.

Acquisitions are a powerful way for businesses to grow quickly and expand their presence in target markets. Internally, however, mergers can present obstacles when it comes to marrying core systems and bringing technology and people together.

When tech meets human ingenuity

The goal of the transformation program was to reduce the technical complexity required to support multiple disparate platforms, decrease costs from duplicated data fees and increase straight-through processing—by establishing Avaloq as the global platform for front, middle and back-office functions for all the firm’s entities.

With Accenture as a consultant, project manager and technology partner, we worked with Avaloq and the firm to design, build and launch the Avaloq Banking Suite. We maintained strict scope management, performed robust functional testing and used Accenture’s proprietary data migration tool for seamless data migration.

To ensure the firm was confident in its new capabilities, we provided business training for front, middle and back offices and technical training for the IT team. With this training, end users with no prior experience of Avaloq were able to quickly adapt.

A valuable difference

The Avaloq core banking platform offers a solid foundation for the firm’s future growth, whether organic or through acquisitions.

The new platform lets the firm focus on its digital expansion and serving its clients, confident that it can easily integrate future acquisitions and respond to the demands of a new generation of clients, who insist on more personal and purpose-driven engagement.

Despite the steady growth of assets under management and volumes in the past few years, the firm’s operational teams have not expanded, thanks to strong operational efficiencies and resilience. This is economy of scale at its best.



The firm’s dedicated functional experts and committed sponsors were a tremendous support to the program’s continued success.

Meet the team

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