Emirates Investment Bank Partners with Avaloq to Modernize its Wealth and Investment Management Operations in Dubai

Emirates Investment Bank, a Dubai-based private bank, has partnered with Avaloq to digitally transform its private banking, wealth and investment management operations. As part of the new collaboration, Emirates Investment Bank will adopt Avaloq’s platform to modernize its core wealth systems, enhance front-office capabilities, and upgrade its digital banking channels across web and mobile. This will help the bank to scale its services and deliver a highly personalized, data-driven wealth management experience. 

Established in 1976, Emirates Investment Bank is regulated by the Central Bank of the UAE and the Emirates Securities and Commodities Authority, and is listed on the Dubai Financial Market. It is a subsidiary of Al-Futtaim Private Company LLC. Emirates Investment Bank is an independent, public joint stock private bank based in Dubai, offering wealth management, investment advisory and daily banking services to high-net-worth individuals and institutions worldwide. 

Avaloq will unify Emirates Investment Bank’s front, middle and back-office systems into a single platform, enabling high straight-through processing (STP) to minimize manual tasks, accelerate onboarding for high-net-worth clients and enhance operational efficiency. With built-in compliance features, the platform will support Emirates Investment Bank in meeting the stringent and evolving regulatory requirements of the wealth and investment management sector, ensuring robust risk management. This will create the optimum operational foundation for Emirates Investment Bank to deliver an outstanding wealth management experience at scale, with data-driven insights to support clients with bespoke investment offerings. 

Avaloq’s open architecture and advanced integration capabilities will enable Emirates Investment Bank to seamlessly connect third-party services and applications via Community APIs. This flexibility will accelerate innovation and significantly cut the time to market for new products. 

Emirates Investment Bank’s clients will benefit from a platform that supports the full spectrum of private banking products and services, enhanced risk management capabilities and digital banking solutions which offer transparent portfolio views, detailed fee breakdowns and personalized dashboards. 

Anthony Jaganathan, Chief Operating Officer, Emirates Investment Bank, said: “Joining forces with Avaloq reflects our commitment to staying at the forefront of innovation in wealth and investment management in a growing and dynamic industry in UAE. By harmonizing our operations into a unified, future-ready platform, we are building a strong foundation for sustainable growth and enhanced value for investors.” 

Vinod Yadav, Head of Technology, Emirates Investment Bank, said: “Avaloq’s single platform and unified data model ensures we have clean, consistent, and actionable data across the bank, enabling future AI use cases. This transformation empowers us to serve our clients with greater agility, transparency, and precision, while continuing to contribute to Dubai’s emergence as a global hub for financial services.” 

Akash Anand, Regional Director and Head of the Middle East & Africa at Avaloq, said: “We are proud to support Emirates Investment Bank as it digitally transforms its wealth and investment management operations. With the Avaloq platform, the bank will streamline its operations with an enhanced core wealth platform, empower its front office staff through RM Workplace and enhance client experience with our Web and Mobile Banking solution. This partnership will enable greater flexibility to expand services in line with evolving investor needs, marking a key milestone with the UAE’s only central bank-regulated, independent private bank.” 

Pascal Wengi, representing the Avaloq Group Executive Board, said: “As the UAE continues to establish itself as a wealth management hub, we remain committed to supporting the country’s leading financial institutions like Emirates Investment Bank in building scalable service offerings tailored to the specific needs of investors in the region. We look forward to deepening this partnership over the long term, helping Emirates Investment Bank deliver exceptional client experiences and contributing to the continued growth of the UAE’s wealth management landscape.”