27 April 2016
Avaloq achieves a record year
The Avaloq group has closed its accounts for 2015 and has reported another record financial year; winning 11 new customers, working with 450 banks and wealth managers worldwide, and achieving its highest turnover to date with a total of close to half a billion CHF.
Thanks to large new business wins and a surge in demand for BPO solutions and digital banking technologies, Avaloq has closed 2015 stronger than ever. The company’s new customers include: China CITIC Bank International, Crestone, the former wealth management arm of UBS Australia and BIL Suisse.
In five years the company’s turnover has grown by almost 20 per cent per year. This rapid development is based on the continuous innovation of Avaloq’s software product, the Avaloq Banking Suite, as well as significant demand for BPO solutions. In addition to Avaloq’s now fully owned Swiss BPO centre, Avaloq has recently launched BPO centres in the EU and Asia. This year, the company has clear objectives for growth that will strengthen Avaloq’s leading position as an independent provider of managed banking services. This includes planning for further BPO centres in all important financial jurisdictions.
Francisco Fernandez, CEO at Avaloq, says, “2015 was marked by strong investments into new digital banking technologies and the extension of our managed banking services offering. This has led to massive growth, and as a result we created almost 300 new jobs within the group. We deem the efficiency, scalability and the aesthetics of our solutions as vital to our customers and their clients going forward. We now serve 450 customers who manage assets worth 3’900 bn CHF using Avaloq solutions, which exceeds any tier 1 bank. As a result of our growth strategy based on our innovation culture and now three fully owned BPO centres, the stage is set for 2016 to become another highlight in Avaloq’s history.”