Banking software and service provider Avaloq and FactSet, a global provider of integrated financial information, analytical applications, and industry-leading services, have announced that they have formed a strategic alliance to help clients comply with Packaged Retail and Insurance-based Investment Products (PRIIPs) requirements. Through a software integration, Avaloq clients can now use a standard adapter via the Avaloq Banking Suite to receive regulatory documents and data delivered by FactSet Digital Solutions.
FactSet Digital Solutions provides digital investment solutions for retail and private banking, wealth management, online brokerage, advisory and the media based on flexible technology. It also offers comprehensive support and hosting for integrated digital services and applications. Its PrimeRDDS solution, a regulatory document and data service, now connects to the Avaloq Banking Suite, ensuring that the advisory process is compliant by providing the essential regulatory documents and data relating to PRIIPs.
Supporting Advisory Compliance Processes for Our Customers
According to Martin Unterbäumen, Senior Director of Product Management, FactSet Digital Solutions, the organizations teamed in response to client demand for a comprehensive solution that enables compliance with the PRIIPs regulation. “With the standard adapter, we provide the Avaloq community with a fully integrated solution that helps ease the burden of ensuring investment decision processes are PRIIPs compliant. We thus support our clients meeting one of the key regulatory challenges.”
Source: FactSet Press Release