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Avaloq - Transforming Core Banking Services
Vendor Analysis
published on Nov 13, 2024
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Report Overview:
This NelsonHall vendor assessment analyzes Avaloq's offerings and capabilities in core banking services
Who is this Report for:
NelsonHall’s ‘Transforming Core Banking Services’ profile on Avaloq is a comprehensive assessment of Avaloq’s offerings and capabilities for the core banking sector, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of technology and operational services and identifying vendor suitability for core banking services in 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 Avaloq’s BFS-focused core banking service offerings and capabilities and market and financial strength, including:
- Identification of the company’s strategy, offerings, 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 Avaloq service components
- Analysis of the company’s delivery organization including the location of delivery centers.
Key Findings & Highlights:
Avaloq was founded in 1985 as a core banking platform provider. Over time, it has expanded the platform’s functionality, customer base, and service delivery options. Today, over 170 clients in 35 countries use the platform. Legacy clients have installed it on-premises and are increasingly switching to SaaS/BPaaS. Most new clients are buying it as a third-party service from Avaloq. Clients can purchase the platform capabilities in a SaaS, BPaaS, or on-premise format.
In 2020, Avaloq was acquired by NEC. Since then, it has rapidly expanded its geographic footprint, primarily across APAC. It is also increasingly selling to clients which NEC has introduced to it. It will continue to expand its geographic footprint to all markets.