We innovate systematically, continuously, successfully: in collaboration with our customers, leading universities, technical colleges and partners.
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What is innovation? Innovation is all kind of changes, whether large or small, in products or in services. How does Avaloq approach innovation and how does its innovation process look like?
Without a solid and brilliant network, innovation cannot take place. In order to continuously develop our leading banking software, the Avaloq Banking Standards and its services, we only work with the best: the Avaloq Community.
To enhance the Avaloq Community, we foster talents because we are convinced that talent is the prerequisite for developing first-class banking software solutions. This is why over 80% of our employees hold university degrees. Furthermore, both Avaloq development centres are located in two of the most demanding and well-developed financial markets in the world: Switzerland (Zurich) and the United Kingdom (Edinburgh).
The intensive exchange between our highly skilled software developers and banking experts within the Avaloq Community is our critical success factor and for this reason, we promote several innovation platforms. These provide the whole Avaloq Community with a space to continuously push innovation and regularly enhance the future of banking. For example, we organise Avaloq events such as the knowledge groups, the Dialogue Event, the Symposium and the PartnerDay.
International meetings to exchange best practices, analyse tendencies in the industry and discuss Avaloq’s solution. Banking experts from the Avaloq Community meet around 30 times a year.
Regionally organised event where the management members and CEOs of our customers meet to discuss strategic subjects.
The top annual event to present and launch the newest product innovations in the Community.
The annual, international event for strategic partners of Avaloq with a focus on implementation, software development, distribution and technology.
Moreover, we believe in a joint development to boost the Avaloq software performance. However, we do not only have events to exchange experiences and ideas, but we also encourage innovation partnerships with customers and partners.
Besides the development of new products and services, also innovation development needs a solid process. Together with leading universities, we have developed our innovation framework. Along this framework, innovation happens – being customer, market or strategic innovation.
Avaloq encourages entrepreneurship: In order to catalyse ideas and to select the good ones to deliver innovation, we give our employees the possibility to be intrapreneurs.
On a yearly basis, we organise the Avaloq Innovation Day at which our employees can present their innovation ideas in an informal way to their colleagues. Among the presented ideas, the best are then selected by the Innovation Board, a group of delegates of the executive board which acts as Venture Capitalists Board. As a next step, the selected idea owners, the Avaloq innovators, engage with the Avaloq Community to present their ideas and to understand first-hand if their ideas might be a business success. At the Avaloq Investor Day, the results are presented and the Innovation Board decides which ideas get a group investment to be eventually developed.
This process highlights the importance innovation has for Avaloq and how we focus on strong employees to promote and foster innovation within the Avaloq Community.