19 Jul 2022
apoBank expands partnership with Avaloq

Deutsche Apotheker- und Ärztebank (apoBank), a German cooperative bank for pharmacists and physicians, is further expanding its long-term collaboration with Avaloq, a leading provider of digital banking solutions.

In 2020, apoBank introduced the Avaloq Core Platform along with Avaloq’s highly automated Business Process as a Service (BPaaS) model. Following a planned software update at the beginning of July, this milestone expansion marks a new chapter in the partnership between apoBank and Avaloq.

As a result, Avaloq will be responsible for the complete operation of apoBank’s core banking system, including additional development activities via its cloud-based service model. The expanded partnership aims to continuously enhance the bank’s IT systems, create innovative solutions for apoBank’s clients and increase efficiency.

Matthias Schellenberg, CEO of apoBank: “This agreement has two key benefits for apoBank. Firstly, we will see further improvement in the quality of our IT operations. In addition, we will increasingly benefit from the enhanced standardization of our processes while improving our ability to adapt to changes, including new regulatory requirements. This will enable us to focus even more on our clients and their specific financial needs.”

Thomas Beck, co-CEO of Avaloq: “We are delighted to support apoBank in its ongoing digital transformation. With our modern technology and reliable services, we will continuously standardize the bank’s processes and further increase operational efficiency. At the same time, we look forward to creating joint solutions so that apoBank can react more quickly and flexibly to demand for advisory services.”