How Avaloq enables reliability
and resilience during COVID 19 times

Our clients – 150 wealth managers and banks - stand in the centre of everything we do. It is only in times of stress where the true value of a partner becomes apparent: stability, reliability and trust are priceless. Private banks and wealth managers worldwide are dependent on partners that go the extra mile. This has become painfully clear during the past few months. Avaloq provides essential services to clients all over the globe. Through our products, our technology platform and the services we provide to the financial industry, we help our clients continue with their business.

Avaloq’s unique robustness and resilience

It is Avaloq’s highest priority to safeguard the health and safety of our employees as well as to continue to adhere to the service level agreements (SLA) as set out with our clients. We keep our clients’ operations running, so they can focus on what matters most: the end-clients’ satisfaction.

Proven resilience & contingency measures

Across all of Avaloq’s 26 office locations in nine countries, business continuity plans were in place early on and executed on a timely basis. This early response ensured the continuity of our operations throughout the development of the COVID-19 crisis period.

Robustness thanks to critical size and global reach

Within a week 98% of our worldwide staff shifted to home office. Thanks to modern IT infrastructure across the whole company, the move to working from home went very smoothly and didn’t cause any interruptions in our operations. More than 2’000 of our employees are now working remotely and continue to service our clients.

Agility to continue servicing our clients

Early segregation of our three BPaaS centres in Switzerland, Singapore and Germany allowed us to continue servicing our clients without any interruptions. Later on, state-of-the-art IT infrastructure allowed us to move staff to home office swiftly and without any interruptions to our operations. All of our other colleagues, working in product development, innovation and corporate functions, are working from home too.

Performance and perseverance for our clients

Since Q1 2020, market volatility spiked and trading volumes increased significantly. Despite what happened in the markets globally, Avaloq was able to keep the promises made to our clients throughout this whole period.

Number of securities and foreign exchange/money market transactions processed for our BPaaS clients on the Avaloq platform

Service Level Agreements (SLA) adherence

In Q1 2020, Avaloq maintained a SLA adherence of 99%. This clearly shows how reliable our service operations are even during periods of extraordinary stress.

Avaloq solutions are available at anytime

Avaloq products and services showed unchanged uptimes for Q1 2020. Our whole company, including development and implementation teams, continues to work virtually unaffected by the crisis.

Accuracy rates remain high

Despite significantly increased trading volumes, high straight through processing (STP) rates have secured very low manual handling, thus keeping accuracy levels high. Avaloq’s proven high and stable STP rates are a major part of the successful handling for these extraordinary peaks and demonstrate the efficiency gains that can be achieved with Avaloq’s BPaaS solutions. Accuracy rates continued to stay above 99.98% for all BPaaS Centers.

Release upgrades successfully performed remotely

Working remotely doesn’t stop release upgrades or new onboardings. During the past few months, we have successfully performed multiple upgrades for several clients. All the while we are continuing implementation projects without any significant impacts.

“In the midst of the COVID-19 turmoil, we successfully upgraded our Avaloq version from 4.3 to 4.8 without any disruption whatsoever. Despite the challenging circumstances, the release upgrade went extremely smoothly.”

Robert Schleich

Deputy COO of Raiffeisen Switzerland

Digitalization drives trusted banking

During times of uncertainty and volatility it is important that banking and wealth management organisations operate at their peak. The demand for banking services will continue during these trying times, and with banking staff working from home it’s of the upmost importance that digital and virtual solutions such as e-banking operate effectively.

For us digitalization is about utilizing technology that leads to more efficient operations and processes and better end client experience. It is not a complete replacement of a traditional system; instead, it leverages new technologies to make existing systems significantly better. Furthermore, it is not only about a change in technology but also a change in social, business and economic behaviours.

Sensitive Data Segregation (SDS) with Avaloq

If there is one thing that the COVID-19 crisis has shown us, it’s the importance of stable digital systems that enable you to work remotely. A functioning home office working environment has become essential for many businesses to successfully continue their operations.

When it comes to banking, the challenge lies in the compliant handling of client identifying data. Various countries have introduced regulations that govern the access to sensitive client data. Switzerland has historically taken banking secrecy very seriously and it is in this strict environment that Avaloq, with its true Swiss heritage, developed a solution for relationship managers and banking personnel to access the information they need for their daily job remotely, while staying compliant.

Avaloq clients have the option to add the SDS extension within their Avaloq Banking Suite. With the SDS extension active, it is possible to separate the customer facing processes from the back-office processes, thus ensuring the segregation of sensitive client data. This allows staff to more easily work from home and most importantly it ensures compliance with local regulations.

To find out more about SDS, please get in touch with your account manager or contact us.