Bank Vontobel has decided to migrate its host system onto Avaloq Banking System. This represents a further development in a successful business relationship that has existed for a good two and a half years.
Bank Vontobel, which has been using the Avaloq Banking System since October 2006 to handle all the securities transactions with which it deals as the transaction bank for Raiffeisen Schweiz, has been won over by the system’s performance and the standard software’s scaleability in the course of productive operations. ‘Avaloq has proved its worth as the basis for a scaleable platform’, comments Peter Gubler, a member of the Vontobel Group’s management team and its head of operations. It is for this reason that the Group, rather than developing its own software, is going over to the Avaloq Banking System, which it will be using for its banking transactions across the board. ‘Only 9 months after going live with the securities operations for Raiffeisen, the bank has decided that it will, in future, be using the Avaloq Banking System as an overall banking application too. That is a great vote of confidence in the Avaloq Banking System and in our firm’, says Avaloq’s CEO, Francisco Fernandez.
The Vontobel Group focuses on its core competences in asset management for private clients and institutional investors and in investment banking with a strong line in derivatives trading. The use of the Avaloq Banking System makes it easier to chart the performance of innovative products in this area and speeds up their placement on the market. Generally speaking, the use of the new standard software makes for a further simplification of the overall applications landscape, with a higher degree of automation and reduced complexity.
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