“The creation of a wealth technology solution that provides digital tools and software solutions in one integrated platform and is customized for the Middle East.” – Roger Rouhana, CEO of Alpheya.

Lunate and BNY Mellon (NYSE: BK) are jointly investing in a new financial technology company, Alpheya, based in Abu Dhabi. Alpheya aims to develop a tailored wealth management technology platform for the Middle East and North Africa (MENA) region. With a capital commitment of $300 million, the platform is set to launch in 2024, addressing the increasing demand from wealth and asset managers for a comprehensive digital solution.

BNY Mellon will hold a minority share in Alpheya, and contribute its global expertise in wealth technology.

The platform will offer end-to-end services, including client onboarding, financial planning, portfolio construction, trading and rebalancing, risk management reporting, and analytics. Emphasizing data privacy and localization, it will comply with specific market requirements in the MENA region. The initiative is expected to enhance Abu Dhabi’s status as a global hub for wealth and asset management. (CISION PR Newswire)

Alpheya’s open and modular architecture aims to provide digital tools for clients to navigate complex technology environments and diverse investment options. This approach allows wealth managers to concentrate on client engagement and business expansion.

BNY Mellon, a major wealth management technology provider, envisions leveraging its expertise to support the evolving needs of wealth managers in the region, enhancing portfolio management and connecting with global providers.

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