16 Juni 2017
PRIIP service: Avaloq and cleversoft conclude software partner agreement
The software providers Avaloq and cleversoft have finalised the software partner agreement for the standard adapter that will provide the Avaloq Banking Suite with regulatory documents.
As a leading international provider of banking software and services for the financial sector, Avaloq is expanding its service offering to include the standard adapter to cleversoft, an innovative and agile service partner, with the aim of broadening the scope of its services and thus providing greater benefits for clients using the Avaloq Banking Suite. All essential regulatory documents relating to shares, bonds, funds, structured products and OTC transactions, such as foreign exchange and interest rate derivatives as OTC transactions, can be made available via the standard adapter.
cleversoft will establish a bidirectional interface with the Avaloq Banking Suite via the standard adapter. In this way, it will be possible not only to retrieve regulatory PDF documents as needed but also to exchange specific transaction data and cost details so that OTC PRIIP KIDs and MiFID II documents can be drawn up on demand.
Process optimisation for our customers
According to Torsten Lange, Executive Director of Regulatory Services at cleversoft GmbH, “With the Avaloq standard adapter, we have set an important milestone for boosting process optimisation for our customers. By providing Avaloq connectivity, our aim is to support our customers in optimising their processes specifically with a view to ensuring the smoothest possible running of retail investment advisory and also of banks’ treasury departments, where currency futures and interest rate derivatives are part of the daily business. We can thus meet the growing regulatory challenges and ensure process reliability and compliance at the same time.”
The Avaloq group is an internationally leading fintech company. With its core and digital banking software, the Avaloq Banking Suite, and its international network of BPO centres, Avaloq brings trustworthy and efficient banking to the world, delivered through great user experience. With its integrated BPO services, Avaloq is the only independent provider for the financial industry to both develop and operate its own software.
Avaloq’s growing ecosystem comprises:
- over 2,000 employees (FTEs) from 66 nationalities;
- 3 R&D centres in Zurich, Edinburgh and Manila, and 3 BPO centres in Lugano, Singapore and Berlin;
- More than 500 third-party developers that co-innovate with Avaloq;
- 155 banks and wealth managers in the most important financial centres worldwide which have chosen Avaloq technology to manage client assets worth over CHF 4,000bn;
- 270 Raiffeisen banks in Switzerland which are served by ARIZON, a joint-venture of Raiffeisen Switzerland and Avaloq with over 300 employees.
Headquartered in Switzerland, Avaloq has branches in Berlin, Edinburgh, Frankfurt, Hong Kong, Leipzig, London, Lugano, Luxembourg, Madrid, Manila, Nyon, Paris, Singapore, Sydney and Zurich.
The cleversoft group is a leading provider of software solutions and full-service offerings for the financial sector with the aim of optimising and streamlining business processes. Headquartered in Munich with offices in Frankfurt, Luxembourg and Sofia, cleversoft currently has about 70 employees. cleversoft is a long-time specialist in the preparation of documents for banks, fund providers and portfolio managers, particularly for securities consulting, and the sales and issuing process.
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