The Liechtenstein private bank LGT, together with Avaloq and Synpulse8, has introduced the «OpenWealth API Standard.» This technology will provide financial intermediaries such as independent asset managers, multi-family offices, and fund companies with real-time access to LGT's investment positions and transaction data.

The introduction of Open Wealth is an important milestone in the long-term partnership between the two companies, Avaloq stated in a press release on Thursday. LGT has been using the Avaloq Core Platform for around 20 years.

Ambitions as a Custodian Bank

«Open Wealth will strengthen our relationships with independent asset managers, family offices, and trustees, as well as support our ambitions as a forward-looking custodian bank,» says LGT Executive Board member Markus Werner.

With Open Wealth, operational risks are reduced, and financial intermediaries can update their platforms with more timely and accurate data instead of relying on daily batch processing.

The new interface (API, Application Programming Interface) offers standardized data quality and a uniform, intuitive user interface. The implementation was carried out together with technology and integration specialist Synpulse8 and Avaloq software partner Synpulse.