Going live for Avaloq Banking Suite on new BT Panorama Operating Platform creates new opportunities for Avaloq to enter the global platform market.
The Avaloq group, an international leader in integrated and comprehensive solutions for wealth management, universal and retail banks, today announces the successful going live of its first Australian customer.
BT Financial Group, the wealth management arm of the Westpac Group, recently successfully completed their first milestone in the implementation of the Avaloq Banking Suite using it to replace as many as seven heritage systems and provide the more than 13,000 BTFG users with the ability to manage a broad range of investments in one single application.
Avaloq is providing the core technologies to BT Financial Group's new Panorama operating system, the first phase of which recently went live with the launch of the cash/term deposit component of the platform. The next deliverable, investment platform functionality, is currently being rolled out to the Panorama platform.
"The contribution of Avaloq to the first release of BT Financial Group's Panorama operating system has been significant. We are looking forward to continuing this relationship as we roll out this important new phase in Australian Financial Services," says John Shuttleworth, General Manager - Platforms and Operations at BT Financial Group.
"The going live at BT Financial Group is a great achievement for Avaloq's Australian team. The progressive adaptation of the Avaloq Banking Suite to the Australian financial platform sector opens up further local opportunities and other potential markets, in specifically the UK and also the Asia Pacific region," says Peter Scott, Avaloq Regional General Manager Asia Pacific and Executive Board member.