DBS and Avaloq signed a memorandum of understanding to expand their 18-year wealth-technology partnership across Asia. The agreement covers enterprise growth, co-innovation and capability-building exchanges. It supports DBS’s target of S$1 trillion in retail and wealth assets under management by 2030.
The two firms will also explore the joint development of capabilities and solutions spanning digital platforms, products, execution and future wealth-management models.
PLATFORM DEPLOYMENT REMAINS EXPLORATORY
The memorandum builds on Avaloq’s existing role in DBS wealth-management operations, which DBS described as a critical enabler for the past 18 years. The companies said they would explore broader deployment of the platform across DBS’s markets and business lines, tailored to different market needs. The parties did not disclose budgets or the first markets for expansion.
SKILLS EXCHANGE SUPPORTS ADVISER CAPACITY
DBS and Avaloq also intend to explore learning programmes, knowledge-sharing sessions and cross-functional exchanges. DBS said the partnership supports its 2030 target by strengthening the capability and capacity of its advisers and specialists to serve the firm’s wealth continuum. Avaloq’s Wealth Insights 2026 research, cited in the announcement, found that seven in ten investors already had an assigned wealth adviser, while more than four in ten without one said they would like one.
Avaloq Group CEO Martin Greweldinger said the two firms planned to “expand into new markets, deepen coverage across business lines, co-create the next generation of wealth technology and equip tomorrow’s wealth-management talent with the skills needed for an increasingly AI-enabled industry”.