Zurich-based Falcon private bank has entered a strategic partnership with a digital asset management and advisory systems specialist.
The cooperation with Baar-based Move Digital will allow the bank to access to the company's digital platform, which will speed up its utilisation of data, news, research and products and connect the bank's investment products value chain.
Client portfolio managers will be able to leverage new technology to better serve their clients, while Move Digital will be working on more portfolio and trading solutions with the bank's support.
Move Digital was founded in 2014 by Mohammed Alaoui and Mika Kastenholz, two former traders with more than 20 years of banking experience.
The company offers three types of services at the moment: Move Tech, Move Intelligence and Move Wealth. Move Tech provides the digital infrastructure for wealth management professionals supporting research and analysis, portfolio management, quantitative trading, automated execution and risk management.
Move Intelligence works on trading algorithms, quantitative libraries and intelligent recommendation engines, while Move Wealth aims to offer private clients family office wealth management.
Commenting on this development Arthur Vayloyan, global head of products & services at the bank, said:
'We are convinced that these new technology driven state-of-the-art solutions increase our attractiveness and have a positive impact on our organisation and growth.'
Mohammed Alaoui, co-founder & CEO of Move Digital, added:
'We are excited to partner up with an agile bank like Falcon that shares our vision of digitally enabled financial institutions and look forward to realise the synergies the cooperation will bring.'
Falcon Group recently announced a restructuring after a trying year and appointed Christian Wenger as new chairman of the group.
Earlier in 2016 the bank was stripped of its licence to operate as a bank in Singapore and lost its Asian branch in connection with the 1MDB scandal for a serious breach of anti-money laundering regulations.