Building upon SOFGEN's existing presence in the region, the facility is designed to support the two main development centres in Switzerland and the UK and will focus on standardised tasks such as testing, certification and development services, substantially reducing Total Cost of Ownership (TCO) for the entire Avaloq community.

Avaloq and SOFGEN have agreed to provide offshore engineering resources from a centralised and jointly managed facility based in Manila, Philippines where 30 specialists deliver standardised software development. The development centre is set to employ 80 engineers within a year.

"While the core development of the Avaloq Banking System will remain in Zurich and Edinburgh, we can now also count on support from the Philippines when it comes to standardised development work such as construction tests, adapter maintenance and certification services," said Avaloq's CEO, Francisco Fernandez. "The opening of the new software development support centre in Manila complements the investments Avaloq continues to make in Switzerland and in the UK."

"SOFGEN's Avaloq Development Centre in Manila was established in 2009 to deliver local development and engineering services dedicated to the growing population of Avaloq users in Asia/Pacific and elsewhere. The Avaloq Development Centre has earned a reputation for delivering projects on time, within budget and in compliance with Avaloq's quality standards," said Alexander Dembitz, SOFGEN Chairman. "I am convinced that this new and expanded joint venture will have a significant impact on the reduction of TCO for the entire Avaloq Community."