SOFGEN Holdings Limited (SOFGEN), a leading international provider of IT solutions for banks, was recently cited in a press release issued 3 May 2010 announcing the successful completion of the Avaloq Banking System implementation for the NOMURA Wealth
Management Division Non-Japan Asia (WMD NJA), a division of NOMURA.
During the implementation, developments were partially outsourced to the SOFGEN Avaloq Development Centre (ADC) located in Manila, this with a view to lowering system Total Cost of Ownership.
As quoted in the Avaloq press release, Francisco Fernandez, CEO of Avaloq Evolution AG, said. âThis is a milestone for Avaloq. By cooperating with SOFGEN, we demonstrate that we provide strong delivery services at reasonable costs. Especially in the Asian market, this USP is one of the most important arguments when it comes to deciding on a new banking software.â
The SOFGEN ADC is the only accredited provider of Avaloq offshore services and offers Avaloq customers worldwide the opportunity to obtain services at rates consistent with those of the global core banking systems market.