Aurora FundAdmin is taking up business in Dubai on the core banking platform of Avaloq. The two companies announced the move on Thursday, as Avaloq said in a statement.

Aurora was set up on March 10 of this year as the new fund administration arm of the BTA group. Its core, BTA Finance, built up under Humberto Coelho, has been licensed by the Dubai Financial Services Authority since 2016 and has itself run on Avaloq's cloud-based platform since last September (finews.com reported).

A Core System Built for Growth

Now the fund administration business is following suit. For its planned expansion, Aurora FundAdmin is relying on Avaloq's multi-entity, single-instance architecture.

That allows new entities and markets to be added on the same instance, without rebuilding operations each time. The first target clients are funds domiciled in the Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM), with international markets to follow later.

The Avaloq platform becomes the new firm's core system. It is meant to automate fund accounting, calculate and validate net asset values, and book fund transactions in real time.

Through the platform's open architecture, Aurora also intends to connect custodian banks and market data providers.

«Automation, Control, Data Consistency»

«We want to establish a strong operational foundation from the outset,» says Rohit D'Souza, senior executive officer and board member at Aurora FundAdmin. The Avaloq platform provides «the level of automation, control and data consistency» the firm needs to run its business efficiently.

Avaloq has been covering the region with its own people on the ground for a good year. In April 2025, the software provider opened an office and named Akash Anand managing director for the Middle East, Africa and India (finews.com reported).

Before that, the group had already won Emirates Investment Bank as a client. Dubai continues to attract new financial institutions from around the world, Anand says, while «a new generation of regional players» is expanding the local ecosystem.