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Avaloq - Transforming Managed Services in Banking

Vendor Analysis

by Andy Efstathiou

published on Sep 14, 2020

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Report Overview:

This NelsonHall assessment analyzes Avaloq's offerings and capabilities in Transforming Managed Services in Banking.

Who is this Report for:

NelsonHall’s Transforming Managed Services in Banking Vendor Assessment for Avaloq is a comprehensive assessment of Avaloq’s Managed Services in Banking offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of managed services processes and identifying vendor suitability for Managed Services RFPs
  • Vendor marketing, sales and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the support services sector.

Scope of this Report:

The report provides a comprehensive and objective analysis of managed services offerings, capabilities, and market and financial strength, including:

  • Identification of the company’s strategy, emphases and new developments
  • Analysis of the company’s strengths, weaknesses and outlook
  • Revenue estimates
  • Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
  • Analysis of the company’s offerings and key service components
  • Analysis of the company’s delivery organization including the location of delivery locations.

 

Key Findings & Highlights:

Avaloq was founded to provide a core banking platform, Avaloq Banking Suite, to banks. The platform was originally designed for the Swiss market with an emphasis on wealth and investment management capabilities. The platform has been modernized regularly since inception, is updated semi-annually for the core, with daily releases which clients can download, and interactive functional updates being made on an ongoing basis.

In 2011, Avaloq expanded its services into BPaaS by acquiring a 51% stake in B-Source, offering banking BPaaS services exclusively on the Avaloq software. In 2016, Avaloq acquired 100% ownership in B-Source, which was then rebranded Avaloq Sourcing Switzerland and Liechtenstein. Since then, Avaloq has expanded its delivery capabilities with additional delivery centers in APAC and across Europe (See Delivery section).

Seven years ago, Avaloq extended its offerings to include omnichannel functionality spanning PC and mobile devices. Today, the company is focused on creating an open platform to support the ongoing development of functionality by both Avaloq and other 3rd parties. Today, Avaloq has partnerships with ~100 external software vendors to extend the scope of capabilities of its platform. All Avaloq’s clients use some or all the FinTech functionality available on its platform.

In 2015, Avaloq formed a 50:50 partnership (Arizon) with Raiffeisen to migrate their 253 separate banks, from their existing individual IBM platforms, onto a single Avaloq instance. At the same time, Arizon was created to provide centralized back-office support to all the banks. In early 2019, with the project completed, Raiffeisen chose to acquire Avaloq’s 50% stake and bring the operation fully in-house, ending the BPaaS partnership but retaining the platform and approach.

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