{"id":958878,"date":"2026-05-14T08:28:19","date_gmt":"2026-05-14T08:28:19","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/958878\/"},"modified":"2026-05-14T08:28:19","modified_gmt":"2026-05-14T08:28:19","slug":"nec-xon-avaloq-advance-wealth-management-technology-in-africa","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/958878\/","title":{"rendered":"NEC XON, Avaloq advance wealth management technology in Africa"},"content":{"rendered":"

\"Jason<\/p>\n

Jason Barr, Executive Safety Solutions at NEC XON. <\/p>\n

NEC XON and Avaloq (both part of NEC Corporation) have combined Avaloq\u2019s globally proven banking and wealth management platform with NEC XON\u2019s strong regional presence and delivery capabilities to support the digitalisation of Africa\u2019s wealth management sector.<\/p>\n

The collaboration focuses on helping financial institutions modernise complex legacy environments, improve operational efficiency and respond to rising client expectations for digital engagement. It will concentrate on key markets including South Africa, Kenya, Mauritius and Nigeria, where demand is growing for scalable platforms that can support regulatory compliance, front-to-back operations and digital client experiences.<\/p>\n

South Africa stands out as the continent\u2019s most significant wealth management market. Its financial sector is mature and globally connected, but many institutions still operate complex technology estates built over time through acquisitions and often rely on legacy systems. These fragmented environments are costly to maintain and difficult to scale, creating a strong need for unified platforms that can support front-to-back operations across wealth management.<\/p>\n

Local execution as the differentiator<\/p>\n

As institutions modernise complex technology environments and manage compliance needs across African markets, regional delivery capability becomes an important factor in successful transformation. Regulatory requirements include strict rules around data residency and evolving anti-money laundering frameworks add further complexity. \u201cAfrican banks and wealth managers are under increasing pressure to modernise their technology environments while delivering more sophisticated services at lower cost,\u201d says Jason Barr, Executive: Safety Solutions at NEC XON. \u201cA strong local presence is essential for institutions undertaking large-scale transformation projects. Our position on the ground across Africa means we can support banks and wealth managers as they evaluate new technology platforms and navigate the regulatory and operational complexities of the region.\u201d<\/p>\n

Driving efficiency through unified platforms<\/p>\n

Avaloq\u2019s platform integrates core banking, portfolio management and digital channels in a unified architecture, enabling institutions to streamline operations, enhance client experiences and deliver personalised advisory services at scale.<\/p>\n

\u201cAcross Africa, we are seeing a clear shift in how financial institutions approach technology,\u201d says Akash Anand, Managing Director, Region Middle East, Africa and India at Avaloq. \u201cIt\u2019s no longer just about modernising legacy systems \u2013 it\u2019s about building platforms that enable growth, improve agility and support more sophisticated client engagement models.\u201d<\/p>\n

\"Akash<\/p>\n

Akash Anand, Managing Director, Region Middle East, Africa and India at Avaloq. <\/p>\n

He adds that demand is being driven by increasing competition from digital-first players, as well as rising client expectations for seamless, personalised experiences across channels. \u201cAt the same time, many institutions are expanding beyond their domestic markets,\u201d Anand continues. \u201cThis makes it essential to adopt platforms that can support multi-entity, multi-jurisdiction operations while maintaining efficiency and regulatory compliance.\u201d<\/p>\n

Positioning Africa for the next phase of growth<\/p>\n

With increasing investor demand for digital channels, personalised advice and cross-border investment opportunities, industry analysts expect digital transformation in the wealth sector to accelerate over the coming decade.<\/p>\n

\u201cAs Africa\u2019s most internationally connected financial hub, South Africa is likely to play a central role in that shift, linking regional capital flows with global financial centres. South Africa and the broader African market are reaching a level of maturity where wealth managers are ready to digitally transform their operations to unlock the next phase of growth and scale their offerings across new markets and client segments,\u201d Anand said. \u201cOur goal is to help institutions modernise their platforms, reduce complexity and position themselves for sustainable growth in an increasingly digital financial landscape.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Jason Barr, Executive Safety Solutions at NEC XON. NEC XON and Avaloq (both part of NEC Corporation) have…\n","protected":false},"author":2,"featured_media":958879,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[267874,267869,51,267871,474,267873,267872,267868,2499,16,15,267870],"class_list":{"0":"post-958878","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-akash-anand","9":"tag-avaloq","10":"tag-business","11":"tag-digital-engagement","12":"tag-finance","13":"tag-jason-barr","14":"tag-nec-corporation","15":"tag-nec-xon","16":"tag-personal-finance","17":"tag-uk","18":"tag-united-kingdom","19":"tag-wealth-management-technology"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/958878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=958878"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/958878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/958879"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=958878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=958878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=958878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}