The Avaloq group, and Zürcher Kantonalbank expand their collaboration and have signed appropriate contracts. The Avaloq Banking Suite at the Zurich cantonal Bank for more than ten years in use, is added to the Avaloq module “Portfolio Management”. In addition, the Bank plans, the Avaloq module “Wealth Advisory” for the investment Advisory services of third parties. The implementation starts already in the course of the 2. Quarter of 2017.
The Zürcher Kantonalbank, the largest cantonal Bank and fourth largest Bank in Switzerland, has expanded their ten-year collaboration with the Avaloq group, and licensed to other function modules of the Avaloq Banking Suite. Since 2006, the Zurich cantonal Bank in the settlement of their securities transactions and Fund administration on the Avaloq Banking Suite. The Bank benefits from the modularity of the Avaloq Banking Suite, thanks to which the functional extensions seamlessly can be implemented. The current at the Zürcher Kantonalbank in use in dividend, the Portfolio Management System is to be supplemented by the Avaloq module “Portfolio Management”. Furthermore, the Bank plans, the Avaloq module “Wealth Advisory”.
“The cooperation with Avaloq runs for ten years very successfully,” says Regina Kleeb, Director of program Management, investments & pensions business, in the case of the Zürcher Kantonalbank. “Due to the expansion of the deployment of the Avaloq Banking Suite at the Zürcher Kantonalbank to the module “Portfolio Management” we benefit from a better integrated processing platform and a higher process efficiency. In addition, we can expand with the module “Wealth Advisory” for third-parties to our business – an important factor against the Background of the ever-changing customer needs in the highly competitive financial sector.”
Jürg Hunziker, Group Chief Markets Officer and Deputy CEO at Avaloq, says: “modularity is a key advantage of the Avaloq Banking Suite. Building on the already using the Avaloq Banking Suite, we can integrate at the Zurich cantonal Bank for more functionalities. We are very happy that we have the cooperation with Zürcher Kantonalbank to expand and expand and we are confident that we provide with our services, a significant contribution for a better advice to customers.”