Google Cloud and Avaloq, a leader in digital banking solutions, today announced a new strategic partnership to help financial services organizations in their digital transformation using cloud technologies. This new partnership is set to enable financial institutions to use the Avaloq Banking Suite and other Avaloq platforms on Google Cloud.
“The financial services industry is undergoing rapid shifts, as banks seek to deliver strong, digital-first experiences to customers,” said Avanish Sahai, Vice President, Partnerships at Google Cloud. “Avaloq provides core and digital banking solutions for many of the world’s leading banks and financial institutions, and we are delighted to partner with Avaloq to support cloud-based transformation for these customers.”
Due to its in-depth experience with Avaloq implementations, Orbium (part of Accenture) was the partner selected to support the testing and implementation procedures in Google Cloud.
Samir Gherbi, Orbium Managing Director, said: “We are pleased that the Avaloq Banking Suite in connection with Google Cloud can deliver the performance needed to support the demanding requirements of financial institutions. We used Google’s native services and emerging cloud native approaches – such as infrastructure as code – to install Avaloq Banking Suite in a highly efficient and cloud-native manner.”
Bringing the Avaloq Banking Suite to Google Cloud is providing customers with significant benefits including being able to rapidly provision infrastructure for deployment of their mission critical Avaloq applications, combined with the flexibility provided by the cloud including Bare Metal solutions to meet the unique needs of each customer.
Additionally, customers will also obtain the benefits of high levels of security and performance, along with improved scalability. With Google Cloud’s global presence, as well as Avaloq’s Sensitive Data Segregation services, Google Cloud and Avaloq will also enable customers to store their data close to home, helping banks adhere to local data residency requirements.
Thomas Beck, Group Chief Technology Officer at Avaloq, said: “Many businesses are accelerating their digital transformation due to the global COVID-19 pandemic. That includes financial services institutions, which are increasingly seeking to use critical IT infrastructure and platforms in a cloud-based environment. We are truly impressed by Google Cloud’s innovative solutions and are excited to partner with this distinguished firm. This strategic partnership builds on Avaloq’s multi-cloud strategy, which allows our clients to pick and choose from a wide range of state-of-the-art IT infrastructure solutions.”
Digital technologies such as cloud-based operating models, artificial intelligence, data analytics and automation will significantly enhance front, middle and back office processes at banks and wealth managers, resulting in a more personalized, smarter and more efficient client experience
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