04 December 2015
Avaloq and Raiffeisen strengthen their partnership
Raiffeisen, the third-largest banking group in Switzerland and a partner of Avaloq since 2007, is acquiring 10 percent of the Avaloq group’s shares. The investment is part of a strategic plan by Avaloq to strengthen its capital base for upcoming opportunities.
As part of its growth strategy, the Avaloq group is expanding its number of shareholders and adding a strategic partner. Raiffeisen, one of the system-relevant banking groups in Switzerland and part of the Avaloq Community since 2007, is acquiring 10 percent of the Avaloq group’s treasury shares. With Raiffeisen’s investment in Avaloq, the two leading companies strengthen their existing partnership and establish even closer ties beyond those of their joint-venture Arizon.
By strengthening its capital base, Avaloq, until now owned by employees and management, will be in a prime position to accelerate the implementation of its ambitious growth plans. This includes investments in two upcoming opportunities as well as in other defined growth sectors and innovations.
Francisco Fernandez, CEO of Avaloq, commented: “The strengthening of our successful partnership with Raiffeisen is a win-win situation for both companies. It will enable the Avaloq group to further accelerate its growth, while we continue to foster our agility. In addition, we will be able to speed up our innovation in developing sustainable solutions in sectors such as Digital Banking and Managed Banking Services.”
“We view our involvement in Avaloq as an attractive strategic investment in the area of finance technology. Thanks to our intensive collaboration with Arizon, we are familiar with the company’s professionalism and future perspectives,” Dr. Patrik Gisel, CEO of Raiffeisen Switzerland, declared.
Arizon, the joint-venture of Raiffeisen and Avaloq was founded in January 2015. The venture is creating the most modern retail banking platform in Switzerland and will implement and operate the Avaloq Banking Suite in all Raiffeisen banks across Switzerland. With Avaloq’s contribution, Raiffeisen is bolstering and harmonising its IT platform to be able to optimally meet the demands of the finance sector and continue to enlarge its position as the leading Swiss retail bank.
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