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Avaloq - Transforming Financial Services with Cloud, SaaS, and BPaaS Services

Vendor Analysis

by Andy Efstathiou

published on Oct 27, 2022

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Report Overview:

This NelsonHall vendor assessment analyzes Avaloq's offerings and capabilities in Cloud, SaaS, and BPaaS services for the banking and financial services sector

Who is this Report for:

NelsonHall’s ‘Transforming Financial Services with Cloud, SaaS, and BPaaS Services’ profile on Avaloq is a comprehensive assessment of Avaloq’s offerings and capabilities for the BFS sector, designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of Cloud, SaaS, and BPaaS processes and identifying vendor suitability for Cloud, SaaS, and BPaaS 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 Avaloq’s BFS-focused Cloud, SaaS, and BPaaS service offerings, capabilities, and market and financial strengths, including:

  • Identification of the company’s strategy, emphasis, 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 banks with a core banking platform, Avaloq Banking Suite. Currently, 150 banks in 35 countries use the platform. The platform has robust functionality for wealth and asset management services. In 2011 it expanded its services into BPaaS by acquiring a 51% stake in B-Source, offering banking BPaaS services exclusively on the Avaloq software. Today, Avaloq delivers software in both on-premises and hosted versions. The SaaS and BPaas delivery models are growing much faster than the on-premise model.

In 2020 Avaloq was acquired by NEC for $2.2bn. Since the merger, Avaloq has been expanding its geographic presence into new geographies, including APAC and North America. Avaloq has focused on growing its business outside of Europe exclusively through SaaS and BPaaS delivery.    

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