The Avaloq group and Zürcher Kantonalbank are expanding their collaboration and have signed contracts to this effect. This will involve adding new areas of application for the Avaloq Banking Suite, which has been used at Zürcher Kantonalbank for over ten years. Implementation will begin in the second quarter of 2017.
As the largest cantonal bank and Switzerland’s fourth largest bank, Zürcher Kantonalbank is expanding its ten-year collaboration with the Avaloq group and licensing additional functional modules of the Avaloq Banking Suite.
The bank has relied on the Avaloq Banking Suite for processing its securities transactions and for fund administration since 2006. It benefits from the modularity of the Avaloq Banking Suite, which enables the seamless implementation of functional enhancements.
The Avaloq Portfolio Management module is to be added to the portfolio management system currently used at Zürcher Kantonalbank. The bank is also planning to use the Avaloq Wealth Advisory module for investment advisory services for third parties.
“We have enjoyed very successful collaboration with Avaloq over the past ten years,” says Regina Kleeb, Head of Programme Management for Investments and Pensions at Zürcher Kantonalbank. “By expanding the use of the Avaloq Banking Suite to include the Portfolio Management module, we will benefit from a much more integrated processing platform and greater process efficiency. We can also broaden our business opportunities with the Wealth Advisory module for third parties – an important factor when faced with the constantly changing needs of clients in the intensely competitive financial sector.”
Jürg Hunziker, Group Chief Markets Officer and Deputy CEO of Avaloq, believes “modularity is a significant advantage of the Avaloq Banking Suite. We can integrate additional functionality at Zürcher Kantonalbank by building on the Avaloq Banking Suite already used. We are delighted that we are expanding and developing our collaboration with Zürcher Kantonalbank, and are confident that we are helping to make client advisory even better with our services.”
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