Digital banking firm Avaloq, HCL expand partnership for financial services

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Digital banking firm Avaloq, HCL expand partnership for financial services
Digital banking firm Avaloq, HCL expand partnership for financial services

For digitalisation, alongside HCL’s wealth and asset management solutions, this expanded partnership will also enable financial institutions to use technology and services of the digital banking firm

The global partnership has between HCL Technologies and the digital banking firm Avaloq has been expanded by the former, the company said in a press statement on Wednesday.

HCL, with this partnership will develop a lifecycle management centre for the clients of the digital banking firm and invest in on-going training and development for HCL teams working on Avaloq products.

HCL’s digital transformation execution framework (FENIX 2.0) and next generation artificial intelligence (AI) and automation (DRYiCE) products will be aided by the new lifecycle management centre to drive efficiency, according to the statement.

“As Avaloq continues its international expansion, we are aiming to provide more flexibility to our implementation capabilities, supporting our long-term growth”, said Martin Greweldinger, co-chief executive officer of Avaloq. “Therefore, we are delighted to expand our existing partnership with HCL to provide banks and wealth managers with access to our products and services”.

For digitalisation, alongside HCL’s wealth and asset management solutions, this expanded partnership will also enable financial institutions to use technology and services of the Digital banking firm.

“We are observing a huge increase in demand for digital wealth and asset management capabilities globally”, said Rahul Singh, president of financial services and digital process operations of HCL Technologies.

“This trend is being driven by the continued emergence of new asset classes such as crypto-currency, which is not set to continue in the future”, he added.

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