The Avaloq Group, Swiss provider of the latest generation of banking solutions, is pleased to announce that a new branch office was opened in France in the spring of this year.
As part of its international market strategy, Avaloq is resolved to make its expertise available to all the world's major financial centres. After recently opening branch offices in Luxembourg and the UK, Avaloq decided to set up in France. From there, projects will also be managed in Monaco and North Africa.
"Dynamic trends in the French banking sector and the challenges these entail make France attractive as a prospective market for Avaloq. Our innovative solutions adapt to the needs of all banks, irrespective of size and area of activity and whether it is a private bank or a retail bank. I am confident that word of our well-established expertise will spread to our future customers and they will find our solutions compelling", explains Tecla Solari, who has been appointed Managing Director of the new branch office. She previously occupied several highly responsible positions within the company.
The Avaloq Banking System: an integrated, modular front-to-back system
The Avaloq Banking System is a universal front-to-back banking platform with a modular structure covering all the processes and functions required by a bank, irrespective of its size. At small to medium-sized banks, the integrated front-to-back banking system can manage the entire life cycle, i.e. all banking business, such as securities & investment processes, accounts and cash transactions, payments and loans. This flexible and evolving solution also enables large banks to opt for one or more modules according to their specific requirements. These can be used to cover one or more banking processes, or for easily setting up shared service centres for a banking group or for servicing other banks that have decided to outsource.
Avaloq can provide the French banking market with the right solutions to meet the challenges of structural and regulatory change
The French banking sector is currently having to grapple with new sets of rules (Basel III, SEPA) and the evolution of customer service requirements (mobile banking, multi-channel banking). These changes in regulations and requirements make new IT solutions necessary. Avaloq, with fifteen years' experience working with major Swiss and international banks, can offer such solutions and the required implementation methods. In addition, the French banking sector will benefit from the local and international expertise of the Avaloq Community, a unique network of well-known customers and recognised partners, enabling them to exchange information and their experiences.
"Projects with French branches of international banks as well as projects in Monaco are being implemented already from the new subsidiary in Paris. BSI Monaco, for instance, installed Avaloq's integrated banking solution at the beginning of the year. We are also planning to establish suitable partnerships with consulting firms and French implementation partners so as to meet the specific requirements of the French market," concludes Tecla Solari.