CFG Group, the Moroccan investment banking pioneer, adopts the Avaloq Banking System.
Avaloq group, the Swiss provider of integrated, comprehensive banking solutions, has announced the signing of its contract with a French-language customer, the Moroccan investment bank and capital markets expert, CFG Group founded in 1992. CFG Group operates in all areas of finance and has recently launched services such as online trading via its Dar Tawfir brand. CFG Group selected Avaloq for its innovative, flexible and constantly evolving solution – the Avaloq Banking System.
CFG Group: Moroccan investment bank
Based in Casablanca, CFG Group is an independent investment bank. It began to serve a retail clientele 10 years ago through its Dar Tawfir brand and today offers a full spectrum of investment banking services, spanning corporate financing, capital market transactions, portfolio management and venture capital. CFG Group is seeking to modernise its IT systems and offer added-value services to its retail clients.
“Our current system, which was brought in during the 2000s, was becoming outdated, and we were determined to pick the best options in the market. We chose to upgrade our infrastructure with the implementation of the Avaloq solution because it was the best fit for our expectations in terms of performance and reputation. Avaloq is highly regarded in the most demanding financial centres wordwide and we see many similarities between CFG Group and the banks forming the Avaloq community,” says CFG Group CEO, Younès Benjelloun. “Opting for Avaloq represents a guarantee of modernity, innovation and flexibility. Its constantly evolving solution will support us as we grow.”
The process of implementing the Avaloq Banking System
CFG Group has chosen to roll out all modules of the global, universal, front-to-back platform, Avaloq Banking System. The system will be applied across all operations and in the front-office and client relationship management.
Implementation will be managed by Orbium, Avaloq’s premium implementation partner. Orbium has extensive expertise working with Avaloq solutions in French-speaking countries, with 150 certified consultants. Tecla Solari, Avaloq Managing Director for France, who secured this project, said “By taking charge of the introduction of the Avaloq Banking System at CFG Group, Orbium will also be able to assist us significantly as we seek to build our profile in the French market.”
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