Avaloq and SOFGEN Announce their Joint Software and Development Support Centre in Manila

Zürich - 9 February 2012

SOFGEN Holdings Limited (SOFGEN), an international provider of IT solutions for banks, and the Avaloq group, a provider of integrated and comprehensive banking solutions, are pleased to announce the opening of a joint software development and support centre in Manila, Philippines. This builds upon SOFGEN's Avaloq Development Centre established in Manila in 2009.

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

"While the core development of our Avaloq Banking System will remain in Zurich and Edinburgh, we can now also count on the support from the Philippines when it comes to highly 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 Manila-based Avaloq Development Centre (ADC) delivers local development and engineering services dedicated to the growing population of Avaloq users in Asia/Pacific and elsewhere. ADC 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 Total Cost of Ownership of the entire Avaloq community."

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