31 March 2014
Avaloq and HCL Announce Strategic Partnership for Wealth Management Services
The Avaloq group, a leader in integrated and comprehensive banking solutions today announced a strategic partnership with HCL Technologies Ltd., a leading global IT services provider. The highlight of the partnership will be the foundation of an off-shore Centre of Excellence in Bangalore, India. The centre will offer flexible and scalable capabilities in implementation, systems integration, migration and testing on the Avaloq Banking Suite’s range of wealth management products.
The global partnership will provide flexible and scalable access to Avaloq know-how and the ability to deliver from off-shore, near-shore and on-site, leveraging HCL global delivery centres. As a consequence of the strategic partnership, current and future Avaloq customers will benefit from improved service, delivery and support for their international implementation projects. HCL will invest in skills development and training programs for employees of the newly created offshore Centre of Excellence. The partnership focuses on a global delivery model during and after implementation of the Avaloq Banking Suite. The Centre of Excellence will be capable of providing support on the product level as well as for bank side services.
“This global partnership brings significant added value to our entire customer base”, explains Francisco Fernandez, CEO of Avaloq. “The alliance will improve our ability to serve international customers, boost our successful internationalisation strategy and in particular strengthen our position in Asia and Europe.”
Commenting on the development, Rahul Singh, President, Financial Services & Business Services, HCL Technologies said: “We are delighted to be teaming up with Avaloq and add its leading banking solutions to HCL’s private wealth management service and integration capabilities. Our expertise in program management, solution implementation and system integration along with Avaloq’s solutions portfolio will enable us to provide integrated and comprehensive services to customers.”
With over twelve years of robust experience, wealth management is one of the significant pillars of HCL’s vision for the financial services industry. The partnership offers strong advantages to Avaloq’s business with long term support from HCL which will lead to rapid integration of Avaloq’s specific expertise and knowledge.