India-based HCL Technologies has expanded its global alliance with Avaloq to develop a lifecycle management centre for Avaloq clients.
The new lifecycle management centre will utilise HCL’s digital transformation execution framework as well as AI and automation products to boost efficiency.
Furthermore, the expanded partnership will allow more financial institutions to utilise Avaloq’s technology and services to drive digitalisation in addition to HCL’s wealth and asset management solutions.
Avaloq Co-CEO Martin Greweldinger said: “As Avaloq continues its international expansion, we are aiming to provide more flexibility to our implementation capabilities, supporting our long-term growth.
“Therefore, we are delighted to expand our existing partnership with HCL to leverage its strong global presence and its domain knowledge in financial services to provide banks and wealth managers with access to our products and services in many different regions across the world.”
As part of the expanded partnership, HCL also plans to invest in ongoing training and development for its teams working with Avaloq products.
These investments will focus on bringing together HCL’s domain knowledge in financial services and Avaloq’s expertise in digital wealth management technology to accelerate innovation in the digital wealth management space.
HCL is providing specialised training from the Avaloq Academy for its wealth management teams across the globe and is developing programme-specific competencies.
HCL Technologies Financial Services and Digital Process Operations president Rahul Singh commented: “HCL’s customer experience-focused approach enables us to work with clients across the world to drive innovation and ensure they remain at the forefront of these changes. We are delighted to expand our partnership with Avaloq as it is a leading provider of wealth management technology and services.”
This February, BG Suisse, the newly established private banking unit of Italy’s Banca Generali, tapped Avaloq to launch of its digital banking platform.