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Deutsche Apotheker- und Ärztebank signs contracts with Avaloq to accelerate its digital transformation

 
11 October 2017

Deutsche Apotheker- und Ärztebank (apoBank) has appointed Avaloq to take its digitalisation to the next level. The Avaloq Banking Suite offers all the benefits of an innovative, yet market-proven solution for apoBank to consequently execute its digital strategy. Avaloq’s involvement will expand the bank’s product offering and enhance the digital client experience.

apoBank’s decision follows an initial evaluation period and pre-project with Avaloq which commenced in September 2016. Following this successful pre-project, apoBank made the strategic decision to partner with Avaloq and implement the well-established Avaloq Banking Suite, Avaloq’s digital and core banking software. Avaloq’s proven track-record and ability to support banks in shaping and executing their digital strategy, as well as the software’s comprehensive functional range, were decisive factors in the bank’s decision-making process.

apoBank has a clear growth strategy based on extending its product offering and enhancing the digital client experience. Avaloq will play a critical role in executing the bank’s digital strategy, and its technology will also lead to increased operational efficiency. Avaloq’s solution is flexible and scalable, two key factors to build the IT setup of apoBank on a future-proof foundation. apoBank and its clients will thus benefit from a reduced time to market for innovative products. Furthermore, the Avaloq solution will comply with all regional regulations and the specific IT requirements of the European Central Bank (ECB).

The implementation of the Avaloq Banking Suite at apoBank will be carried out jointly by DXC Technology, Orbium and Avaloq. The project starts immediately, while Avaloq is continuously extending its resources, including the teams which already cooperated in the successful pre-project.

“Becoming the partner of choice for apoBank, which is renowned for serving medical professions, fills us with pride and is testament to the strength, quality and effectiveness of our digital solution for retail and corporate banking”, said Jürg Hunziker, Deputy Group CEO and Group Chief Markets Officer, at Avaloq. “We are delighted to welcome apoBank to the Avaloq Community. We will build on the momentum we have gained with this new partnership to further increase our footprint and build our position in Germany and the European Union”, Jürg Hunziker continues.

“This project is a lighthouse project for DXC in the banking sector. It proves our capabilities to lead digital transformations and confirms our position as one of the main IT provider for Banking in North and Central Europe. apoBank will benefit from our leading-edge capabilities in advisory, applications, security, cloud, and workplace combined with our industry-specific banking know-how. We are looking forward to continue working with apoBank”, said Michael Eberhardt, Vice President & General Manager North & Central Europe for DXC Technology.

"As an Avaloq premium implementation partner, we are thrilled to support apoBank with this initiative. With our blend of strategic business and systems implementation consulting, we will help apoBank stay ahead," said Roger Frei, Partner at Orbium. “We are looking forward to joining forces with Avaloq to deliver a leading digital solution for the German market and build on our international presence.”