Japan-based Nomura Group has decided to install the core banking system from Avaloq for its Asia Wealth Management operations. Nomura's Wealth Management Division operating out of Singapore will use the Avaloq Banking System to process its front-end to back-end transactions in future. For Avaloq, this represents a further important milestone in its internationalisation strategy.
The signing of the contracts on Monday in Zurich means Nomura’s Wealth Management (non-Japan Asia) team is putting its faith in the banking software provided by Avaloq for the first time. Nomura will employ the Avaloq Banking System as its integrated wealth management platform in Singapore.
Avaloq CEO Francisco Fernandez comments: "We're delighted to have Nomura as a new customer. The deal illustrates how Swiss quality in banking software is making inroads internationally as well. We believe this will have a signal effect in Asia's attractive financial markets in particular."
Nomura Group is the Asian-based preeminent investment bank with worldwide reach. Alongside individual and institutional clients, Nomura also serves corporate and government clients through its international network in over 30 countries.
At the beginning of January 2009, Avaloq had already demonstrated that it has resources and expertise at its disposal to handle and successfully complete several complex projects at the same time when it simultaneously implemented the Avaloq Banking System for five banks from Switzerland, Liechtenstein and Luxembourg, some of which also have international activities.
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