29:
142:
Core banking includes information about customers, transactions and account balances. Banks have traditionally bought in software for these purposes rather than developing it internally. More functions had to be added over the years as requirements changed, such as for online banking. The result has
218:
Avaloq
Banking Group AG employs 2,500 staff, 500 of which are programmers. It has annual revenues of over $ 500 million and its software accounts for bank deposits to the sum of $ 4 trillion. The founder is Francisco Fernandez.
184:
In 2013, the group expanded its presence in
Germany by entering into a cooperation with quirin Bank, acquiring Höll Computer & Software GmbH and establishing Avaloq Sourcing (Deutschland) AG, based in Berlin.
174:, followed by five other commercial banks in Switzerland. The system then spread worldwide although it has had little impact in America. Initially, the firm was called BZ Informatik, and its product “AdvAntAge”.
146:
As a result, banks have tended to buy in modern comprehensive software from large, specialist firms. This may be run by the bank itself or by an agency running the computing service on behalf of the bank.
386:
180:
Product development of the software takes place in ZĂĽrich and
Edinburgh, supported by a support center in Manila. New capacity was built primarily at the international sites, most notably in Edinburgh.
765:
735:
790:
143:
been very complex computer programs that can be difficult to manage. Coding changes for compliance to new regulations and for accommodating new products can be problematic.
360:
770:
375:
775:
188:
In 2015, Avaloq went live with its two BPO centers in
Germany and Singapore. Avaloq is continuously building new business process outsourcing (BPO) centers.
712:
281:, Avaloq engages a number of companies based in Israel to attempt to break through the security systems and then help plug the vulnerabilities uncovered.
755:
651:
795:
727:
805:
681:
785:
780:
760:
177:
In 1996, the current name was adopted. In 2001, the company split from BZ Bank, as the employees acquired 100% of the share capital.
589:
352:
324:
403:
251:
511:
485:
628:
815:
810:
704:
433:
155:
Avaloq was founded in ZĂĽrich in 1985, under the name "BZ Informatik
Aktiengesellschaft", functioning as the
459:
643:
258:. Apart from a 10% holding by a Swiss bank, Avaloq is owned by its employees, and it has major offices in
231:
156:
800:
277:
The security of the data stored by the system is of the utmost importance. To proactively guard against
673:
171:
563:
53:
537:
164:
247:
255:
243:
207:
99:
597:
167:. At that time, there were five staff members and the cost of the buyout was $ 200,000.
163:. In 1991, 30% of the share capital was taken by the employees as a result of a partial
271:
192:
94:
749:
239:
196:
278:
131:
49:
254:
to Avaloq itself for the actual running of the core computing service, which uses
316:
39:
411:
263:
460:"Business Process Outsourcing: Avaloq und Quirin Bank rollen BPO-Markt auf"
259:
72:
644:"Business Process Outsourcing Avaloq und Quirin Bank rollen BPO-Markt auf"
515:
489:
222:
The Avaloq
Banking Suite software is used by over 450 customers including
621:"Bankensoftware: Avaloq greift nach der Krone aloq greift nach der Krone"
620:
227:
200:
28:
538:"Swiss software group Avaloq hires banks for 2020 sale or IPO: sources"
160:
267:
223:
486:"Inside-IT: Avaloq kauft deutschen Kernbankensoftware-Anbieter"
270:. In 2016, the firm was rumoured to be seeking investment from
235:
353:"Can Big Four Core Banking Vendors' Oligopoly Be Broken?"
110:
317:"High security: The man who protects our bank accounts"
674:"Swiss firm Avaloq to create 500 jobs in Edinburgh"
105:
93:
83:
67:
59:
45:
35:
126:is a Swiss company that develops and provides the
512:"Inside-IT: Avaloq baut weiteres BPO-Zentrum auf"
766:Financial services companies established in 1985
564:"NEC acquires Switzerland's Avaloq for $ 2.2bn"
8:
705:"Avaloq in talks with private equity firms?"
21:
791:Financial services companies of Switzerland
27:
20:
206:In October 2020, Avaloq was acquired by
191:In November 2019, Reuters reported that
376:"Swiss Banking Software Goes Worldwide"
346:
344:
342:
310:
308:
306:
304:
302:
300:
298:
296:
294:
290:
250:. Some of the customers have performed
771:Software companies established in 1985
703:Andreasyan, Tanya (29 November 2016).
642:PĂĽtter, Christiane (14 January 2013).
738:from the original on 7 February 2017.
715:from the original on 8 February 2017.
684:from the original on 28 February 2017
631:from the original on 8 February 2017.
619:Minetti, Maurizio (23 October 2008).
392:from the original on 8 February 2017.
363:from the original on 8 February 2017.
7:
327:from the original on 7 February 2017
203:on a planned IPO or sale of Avaloq.
776:Swiss companies established in 1985
434:"Outsourcen, offshoren, schönreden"
14:
756:Software companies of Switzerland
728:"Avaloq in Private Equity Hands?"
654:from the original on 9 March 2016
514:. 9 December 2019. Archived from
488:. 9 December 2019. Archived from
351:Crosman, Penny (7 October 2013).
726:Hody, Peter (18 November 2016).
315:Smale, Will (6 February 2017).
796:Financial technology companies
590:"Our Management Team – Avaloq"
16:Swiss banking software company
1:
806:2020 mergers and acquisitions
374:Eckert, Martin (June 2011).
252:business process outsourcing
781:Business software companies
832:
761:Banking software companies
786:Companies based in ZĂĽrich
26:
596:. Avaloq. Archived from
410:. Avaloq. Archived from
170:The first customer was
232:Royal Bank of Scotland
157:information technology
128:Avaloq Banking Suite
172:Swiss National Bank
23:
680:. 7 October 2011.
650:(in German). CIO.
600:on 8 February 2017
544:. 21 November 2019
518:on 9 December 2019
492:on 9 December 2019
414:on 8 February 2017
404:"History – Avaloq"
385:. pp. 20–21.
383:worlditlawyers.com
214:Current activities
54:financial services
195:was working with
165:management buyout
121:
120:
823:
816:NEC acquisitions
811:NEC subsidiaries
740:
739:
723:
717:
716:
700:
694:
693:
691:
689:
670:
664:
663:
661:
659:
639:
633:
632:
616:
610:
609:
607:
605:
586:
580:
579:
577:
575:
570:. 5 October 2020
560:
554:
553:
551:
549:
534:
528:
527:
525:
523:
508:
502:
501:
499:
497:
482:
476:
475:
473:
471:
456:
450:
449:
447:
445:
430:
424:
423:
421:
419:
400:
394:
393:
391:
380:
371:
365:
364:
348:
337:
336:
334:
332:
312:
248:Societe Generale
117:
114:
112:
31:
24:
831:
830:
826:
825:
824:
822:
821:
820:
746:
745:
744:
743:
725:
724:
720:
709:bankingtech.com
702:
701:
697:
687:
685:
672:
671:
667:
657:
655:
641:
640:
636:
618:
617:
613:
603:
601:
588:
587:
583:
573:
571:
562:
561:
557:
547:
545:
536:
535:
531:
521:
519:
510:
509:
505:
495:
493:
484:
483:
479:
469:
467:
458:
457:
453:
443:
441:
432:
431:
427:
417:
415:
402:
401:
397:
389:
378:
373:
372:
368:
357:American Banker
350:
349:
340:
330:
328:
314:
313:
292:
287:
256:cloud computing
216:
208:NEC Corporation
153:
151:Company history
140:
109:
100:NEC Corporation
86:
79:
75:
22:Avaloq Group AG
17:
12:
11:
5:
829:
827:
819:
818:
813:
808:
803:
798:
793:
788:
783:
778:
773:
768:
763:
758:
748:
747:
742:
741:
718:
695:
665:
634:
611:
581:
555:
529:
503:
477:
451:
438:Tages-Anzeiger
425:
395:
366:
338:
289:
288:
286:
283:
272:private equity
215:
212:
193:Warburg Pincus
159:subsidiary of
152:
149:
139:
136:
119:
118:
107:
103:
102:
97:
91:
90:
87:
84:
81:
80:
77:
71:
69:
65:
64:
61:
57:
56:
47:
43:
42:
37:
33:
32:
15:
13:
10:
9:
6:
4:
3:
2:
828:
817:
814:
812:
809:
807:
804:
802:
799:
797:
794:
792:
789:
787:
784:
782:
779:
777:
774:
772:
769:
767:
764:
762:
759:
757:
754:
753:
751:
737:
733:
729:
722:
719:
714:
710:
706:
699:
696:
683:
679:
675:
669:
666:
653:
649:
645:
638:
635:
630:
627:(in German).
626:
622:
615:
612:
599:
595:
591:
585:
582:
569:
565:
559:
556:
543:
539:
533:
530:
517:
513:
507:
504:
491:
487:
481:
478:
465:
461:
455:
452:
439:
435:
429:
426:
413:
409:
405:
399:
396:
388:
384:
377:
370:
367:
362:
358:
354:
347:
345:
343:
339:
326:
322:
318:
311:
309:
307:
305:
303:
301:
299:
297:
295:
291:
284:
282:
280:
275:
273:
269:
265:
261:
257:
253:
249:
245:
241:
240:Deutsche Bank
237:
233:
229:
225:
220:
213:
211:
210:for $ 2.2bn.
209:
204:
202:
198:
197:Goldman Sachs
194:
189:
186:
182:
178:
175:
173:
168:
166:
162:
158:
150:
148:
144:
137:
135:
133:
130:software for
129:
125:
116:
108:
104:
101:
98:
96:
92:
88:
82:
74:
70:
66:
62:
58:
55:
51:
48:
44:
41:
38:
34:
30:
25:
19:
801:Swiss brands
731:
721:
708:
698:
686:. Retrieved
677:
668:
656:. Retrieved
647:
637:
625:inside-it.ch
624:
614:
602:. Retrieved
598:the original
594:avaloq.co.uk
593:
584:
572:. Retrieved
567:
558:
546:. Retrieved
541:
532:
520:. Retrieved
516:the original
506:
494:. Retrieved
490:the original
480:
468:. Retrieved
463:
454:
442:. Retrieved
437:
428:
416:. Retrieved
412:the original
408:avaloq.co.uk
407:
398:
382:
369:
356:
329:. Retrieved
320:
279:cyber attack
276:
221:
217:
205:
190:
187:
183:
179:
176:
169:
154:
145:
141:
132:core banking
127:
123:
122:
68:Headquarters
50:Core banking
36:Company type
18:
466:(in German)
440:(in German)
274:investors.
85:Area served
78:Switzerland
750:Categories
732:finews.com
688:7 February
658:7 February
604:7 February
418:7 February
331:7 February
285:References
138:Background
40:Subsidiary
574:5 October
264:Edinburgh
89:Worldwide
736:Archived
713:Archived
682:Archived
678:BBC News
652:Archived
629:Archived
548:23 April
522:22 March
496:22 March
470:22 March
444:22 March
387:Archived
361:Archived
325:Archived
321:BBC News
228:Barclays
201:Barclays
46:Industry
542:Reuters
161:BZ Bank
113:.avaloq
106:Website
60:Founded
648:cio.de
568:ft.com
464:cio.de
268:Manila
260:ZĂĽrich
244:Nomura
124:Avaloq
95:Parent
73:ZĂĽrich
390:(PDF)
379:(PDF)
690:2017
660:2017
606:2017
576:2020
550:2020
524:2023
498:2023
472:2023
446:2023
420:2017
333:2017
266:and
246:and
224:HSBC
199:and
115:.com
63:1985
236:UBS
111:www
752::
734:.
730:.
711:.
707:.
676:.
646:.
623:.
592:.
566:.
540:.
462:.
436:.
406:.
381:.
359:.
355:.
341:^
323:.
319:.
293:^
262:,
242:,
238:,
234:,
230:,
226:,
134:.
76:,
52:,
692:.
662:.
608:.
578:.
552:.
526:.
500:.
474:.
448:.
422:.
335:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
