Avaloq records five “Going Lives” for its Avaloq Banking System

Zurich - 17 October 2012

A total of five banks from Switzerland, Luxembourg and Panama successfully migrated to the Avaloq Banking System within the last few months. Despite the current challenging market conditions, Avaloq realised these five going lives with new customers and ensured a qualitatively sound and professional execution of the projects. The decisive factors which convinced the banks of the Avaloq Banking System are its international deployment possibilities as well as its efficiency and flexibility.

Avaloq can report further successes on the national and international stage of banking software solutions for financial institutions by going live with five new customers with its Avaloq Banking System. In line with its strategy to continuously drive international expansion, Avaloq secured the deals which see the Avaloq Banking System deployed across Europe and Central America. The projects, which were executed in close cooperation with the banks, were realised professionally and within the given budgets. These are key factors to ensure customer satisfaction and reliable project management.

NORD/LB Luxembourg, Rothschild Bank AG Zurich (supporting Rothschild's Wealth Management Division in UK and Switzerland), Banco Crèdit Andorrà (Panama) as well as two further banks from Switzerland and Luxembourg have put their trust in Avaloq and opted for the Avaloq Banking System because of the instrumental advantages it offers. "The decisive factors crucial for our decision making process were the functional diversity and the flexibility the Avaloq Banking System offers,” says Christian Veit, Deputy Chairman and Chief Financial-/Risk-/Operations Officer of Norddeutsche Landesbank Luxembourg S.A. "Thanks to Avaloq we can enhance the functional coverage of our private banking division and at the same time cover our entire credit operations - including the bank’s IFRS-Accounting - effectively and at a qualitatively high level."

"Five going lives in the last four months alone are already a big success. So much more so in a year characterised by continued economic uncertainty. This speaks for the quality and the added value that the Avaloq Banking System can bring to the most demanding and sophisticated financial centres across the world," explains Francisco Fernandez, CEO Avaloq.

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