Gulf Capital Investment Company, “InvestGB“, the fully owned investment arm of Gulf Bank, has formed a strategic partnership with Avaloq, a global leader in private banking and wealth management technology. This is as part of its continuous efforts to enhance and innovate its client experience.
Avaloq is a premium provider of front-to-back software and services for over 170 financial institutions around the world. Their clients include private banks, wealth managers and investment managers, as well as retail banks.
Also, Avaloq develops software that can be deployed flexibly through cloud-based software as a service (SaaS) or on-premises. It equally offers Banking Operations outsourcing through its business process as a service (BPaaS) model. It is a subsidiary of NEC Corporation, a global leader in the integration of IT and network technologies.
This partnership marks a significant upgrade in InvestGB’s digital wealth and investment management capabilities, providing clients with a more streamlined and sophisticated service.
InvestGB will adopt Avaloq’s advanced cloud platform, which is anticipated to revolutionize its core wealth management systems.
While the Avaloq platform will unify all of InvestGB’s systems and data into a single infrastructure, enhancing service for both InvestGB’s and Gulf Bank’s clients.
It provides benefits such as intuitive portfolio visualization, increased transparency with advanced self-service features, and the latest security measures, making investments more efficient and secure.
Mr. Hani AlAwadi, Chief Executive Officer at InvestGB, stated: “Our strategic partnership with Avaloq aligns perfectly with our commitment to innovation and our mission to deliver long-term value to our clients.
“By leveraging Avaloq’s advanced technology, we are enhancing our digital transformation in wealth management, fostering growth through innovation, and positioning ourselves to address the evolving needs of our high-net-worth and corporate clients.”
On his part, Mr. Akash Anand, Regional Director and Head of Middle East and Africa at Avaloq, remarked: “We are excited to partner with InvestGB as our first client in Kuwait.
“With Avaloq’s expertise, we are dedicated to delivering exceptional value in wealth management. We look forward to supporting InvestGB in transforming the investment and wealth management sector in the region.”
InvestGB is a Kuwaiti closed joint-stock company with a capital of KD 10 million. It provides a wide range of services in wealth and asset management, investment, and advisory services for high-net-worth individuals and institutional investors.
The company is committed to preserving, growing, and diversifying its clients’ wealth while maintaining the highest ethical standards, supported by a team of experienced investment and asset management professionals.
