DBS and Avaloq expand strategic partnership to accelerate wealth growth across Asia
Collaboration combines DBS’ market-leading wealth franchise with Avaloq’s platform capabilities as the bank eyes SGD 1 trillion in retail and wealth AUM by 2030
Singapore, 25 Sept 2026 - DBS and Avaloq have signed a memorandum of understanding (MoU) to expand their 18-year partnership and jointly develop the next generation of wealth management capabilities for customers and advisers across Asia. The strategic partnership combines DBS’ deep wealth and investment expertise with Avaloq’s extensive wealth management technology capabilities. The two organisations will collaborate across three areas: enterprise growth, co-innovation, and capability building exchange.
The expanded partnership supports DBS' ambition to grow its retail and wealth assets under management to SGD 1 trillion by 2030 by strengthening one of the franchise's key growth engines: the capability and capacity of its advisers and specialists to serve the firm’s wealth continuum.
This comes at a time when demand for professional investment advice is rising across Asia, even as the industry faces an acute talent pool crunch. Seven in 10 investors already have an assigned wealth adviser, while more than four in 10 investors without one say they would like one.[1] As wealth creation accelerates, the wealth management industry will not only have to grow their talent pool across the front and back offices but also augment every individual through technology, data and stronger ecosystem partnerships.
Under the MoU, DBS and Avaloq will explore the broader deployment of the Avaloq platform across DBS’ markets and business lines, tailored to different market needs. The two firms will also explore the joint development of capabilities and solutions spanning digital platforms, products, execution and future wealth management models.
The partnership will also harness DBS’ talent pool and Avaloq’s wealth technology expertise to support skills development and knowledge exchange. Potential initiatives include learning programmes, knowledge-sharing sessions, cross-functional exchanges and broader industry engagement.
Shee Tse Koon, Group Executive and Head of Consumer Banking and Wealth Management, DBS, said: “Avaloq has been a critical enabler for our wealth management operations for the past 18 years. This latest partnership brings together DBS’ wealth and investment expertise with Avaloq’s platform and data capabilities to co-create solutions that can swiftly address the evolving needs of our customers and advisers. By deepening capabilities across the wealth continuum, we can give our advisers greater capacity for the judgment that matters and help more customers put their money to work. This is how we intend to set the pace as Asia’s wealth market grows.”
Martin Greweldinger, Group Chief Executive Officer, Avaloq, said: “We are excited to begin a new chapter in our partnership with DBS and build on 18 years of shared success. Together, we plan 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. This shared ambition will help extend high-quality investment capabilities to a broader and more diverse client base.”
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best AI Bank” by Global Finance, “World’s Best Digital Bank” by Euromoney and the winner of multiple digital assets awards. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in consumer, Wealth, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About Avaloq
Avaloq is a premium provider of front-to-back software and services for over 170 financial institutions around the world. Our clients include private banks, wealth managers and investment managers, as well as retail and neobanks. We develop software that can be deployed flexibly through cloud-based software as a service (SaaS) or on-premises, and we offer banking operations outsourcing through our business process as a service (BPaaS) model. Avaloq is a subsidiary of NEC Corporation, a global leader in the integration of IT and network technologies.
The expanded partnership supports DBS' ambition to grow its retail and wealth assets under management to SGD 1 trillion by 2030 by strengthening one of the franchise's key growth engines: the capability and capacity of its advisers and specialists to serve the firm’s wealth continuum.
This comes at a time when demand for professional investment advice is rising across Asia, even as the industry faces an acute talent pool crunch. Seven in 10 investors already have an assigned wealth adviser, while more than four in 10 investors without one say they would like one.[1] As wealth creation accelerates, the wealth management industry will not only have to grow their talent pool across the front and back offices but also augment every individual through technology, data and stronger ecosystem partnerships.
Under the MoU, DBS and Avaloq will explore the broader deployment of the Avaloq platform across DBS’ markets and business lines, tailored to different market needs. The two firms will also explore the joint development of capabilities and solutions spanning digital platforms, products, execution and future wealth management models.
The partnership will also harness DBS’ talent pool and Avaloq’s wealth technology expertise to support skills development and knowledge exchange. Potential initiatives include learning programmes, knowledge-sharing sessions, cross-functional exchanges and broader industry engagement.
Shee Tse Koon, Group Executive and Head of Consumer Banking and Wealth Management, DBS, said: “Avaloq has been a critical enabler for our wealth management operations for the past 18 years. This latest partnership brings together DBS’ wealth and investment expertise with Avaloq’s platform and data capabilities to co-create solutions that can swiftly address the evolving needs of our customers and advisers. By deepening capabilities across the wealth continuum, we can give our advisers greater capacity for the judgment that matters and help more customers put their money to work. This is how we intend to set the pace as Asia’s wealth market grows.”
Martin Greweldinger, Group Chief Executive Officer, Avaloq, said: “We are excited to begin a new chapter in our partnership with DBS and build on 18 years of shared success. Together, we plan 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. This shared ambition will help extend high-quality investment capabilities to a broader and more diverse client base.”
[1] Avaloq wealth insights 2026, published 9 September. investor and wealth professional research.
[END]
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best AI Bank” by Global Finance, “World’s Best Digital Bank” by Euromoney and the winner of multiple digital assets awards. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in consumer, Wealth, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About Avaloq
Avaloq is a premium provider of front-to-back software and services for over 170 financial institutions around the world. Our clients include private banks, wealth managers and investment managers, as well as retail and neobanks. We develop software that can be deployed flexibly through cloud-based software as a service (SaaS) or on-premises, and we offer banking operations outsourcing through our business process as a service (BPaaS) model. Avaloq is a subsidiary of NEC Corporation, a global leader in the integration of IT and network technologies.
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World's Best Bank 2025, 2018 - 2022
Euromoney, Global Finance, The Banker
Asia’s Safest Bank, 2009 – 2025
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