GFT and Avaloq extend partnership

London - 25 October 2011

Foundation for European Competence Centre laid in Zurich

International IT company GFT Technologies AG (GFT) is extending its long-running partnership with Avaloq Evolution AG, a leading producer of integrated banking software solutions. The appointment of GFT as an Implementation Partner will strengthen the successful partnership between the two companies. “An increasing number of financial institutes are modernising their core banking systems and choosing standardised products such as the Avaloq Banking System. In combination with GFT’s international development network, our Core Banking Competence Centre will enable us to provide extensive specialist knowledge with a high degree of flexibility,” says GFT’s Executive Board member Marika Lulay.

The extended partnership means that the focus is now on jointly tapping international market potential. Clients will be able to benefit from a combination of proven banking software solutions as well as many years of technological knowledge and process expertise in the finance sector.

“With our international Avaloq Competence Centre based near Zurich, we aim to build on our existing knowledge in core banking systems. This will enable us to provide a wide range of consulting services to our international clients regarding the selection, implementation and maintenance of core banking solutions,” comments Marika Lulay. The GFT Group strengthened its core banking expertise in June this year with the acquisition of Asymo, a Swiss IT specialist for Avaloq services. The subsidiary has since been re-named GFT Financial Solutions AG and moved its head office to GFT’s facility in Glattbrugg.

“We are delighted that the agreement reached today will continue our partnership with GFT, which started in 2007 when Asymo was selected as an Associate Implementation Partner,” says Martin Niederöst, Head Business Partner Management of Avaloq. “At the same time, we are also underlining our trust in GFT as a reliable partner with outstanding solution expertise and a strong international presence. This will create new opportunities for us to expand the Avaloq Banking System across leading financial institutes throughout Europe.”

GFT currently employs over 25 Avaloq-certified staff and has already successfully implemented Avaloq products for more than ten clients. Marika Lulay adds: “Existing and future clients can continue to rely on our experts for cutting-edge technical and solution-oriented advice. In addition, we can also draw on specialists from our international production network according to client needs.”

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