Valley National Bank Forms Strategic Partnership With FusionIQ

James Miller, Contributing Editor & Research Analyst, Wealth Solutions Report

Alliance Will Put Digital Wealth Management Capabilities In Hands Of Bank’s Customers

Valley National Bank, a regional bank with nearly $62 billion in assets, has formed a strategic alliance with FusionIQ, a developer of cloud-based wealth management solutions, to provide an enhanced wealth management experience for bank customers on internet and mobile devices.

In making FusionIQ’s Digital Advice platform available to its customers, New Jersey-based Valley National Bank is leveraging their digital platform, which integrates with Valley’s existing systems and infrastructure, and provides access to an array of investment options and workflows.

The Valley/FusionIQ collaboration is expected to enhance scalability, catering to Valley’s expanding mass affluent customer base and optimizing the utilization of its current resources. Leveraging cloud technology eliminates the need for costly on-premises infrastructure, offering flexibility, scalability and cybersecurity protections.

In recent years, Valley National Bank has been investing in a digital transformation designed to enhance wealth management services. Partnering with FusionIQ to provide clients with the Digital Advice module is an evolution of these efforts, according to the release.

Joel Vanovitch, COO, Valley Financial Management, Valley National Bank

Joel Vanovitch, COO of Valley Financial Management at Valley National Bank, said, “As one of the leading banks in the country, Valley prioritizes premier customer service while striving to provide innovative financial solutions. We’re excited to partner with FusionIQ to enhance our wealth management experience and offer our customers more investment options through their cloud-native solution.”

He continued, “This partnership is a meaningful step towards driving new customer growth while delivering greater convenience and innovative products that our customers have come to expect from Valley.”

Mark Healy, CEO, FusionIQ

FusionIQ’s data analytics are expected to strengthen Valley’s ability to identify customers with a predisposition to wealth management while delivering tailored solutions to help their customers meet their financial goals.

“We are excited to partner with Valley on their digital banking journey,” said Mark Healy, CEO of FusionIQ. “Our collaboration is rooted in a shared vision to empower Valley’s customers with new opportunities for investment, enabling Valley customers to achieve their most important financial goals. FusionIQ’s Digital Advice platform aligns perfectly with Valley’s efforts to provide exceptional wealth management services while benefiting from a trusted and proven platform.”

James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.

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