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Avaloq

Avaloq

Avaloq is a Zürich-based financial technology company developing banking software to digitize and automate the financial services industry, founded in 1985.

Avaloq Group AG (Avaloq) is a Swiss international fintech company that digitizes the automation of the financial services industry. Avaloq was founded in 1985 by Francisco Fernandez and the company is headquartered in Zurich, with offices throughout Switzerland and in Berlin, Leipzig, Düsseldorf, London, Edinburgh, Luxembourg, Madrid, Neuilly sur Seine, Singapore, Hong Kong, Sydney, the Philippines, and India. Avaloq has 150+ clients based in thirty countries and nearly $5 trillion (4.5 trillion CHF) in client assets managed using its software.

The company's stated mission is "to reinvent finance for the people and make a difference in society," and the company's stated vision is "to be the orchestrator of the financial ecosystem and to democratize wealth management." Avaloq develops fully integrated banking software systems and digital applications that offer transaction processing services for financial institutions, service banks, commercial banks, investment companies, investment banks, and wealth management industries. Avaloq creates digital experiences and cloud solutions provided through a standardized Business Process as a Service (BPaaS) or Software as a Service (SaaS) model to banks and wealth managers.

In October 2020, it was announced that Japanese information technology and electronics company NEC Corporation would acquire Avaloq in a deal worth $2.2 billion. The acquisition was finalized in December 2020.

Timeline

December 22, 2020
Avaloq acquired by NEC Corporation in $2.2 billion deal.
July 2, 2019
Avaloq acquires Derivative Partners.
June 28, 2017
Avaloq raises private equity funding round.
March 24, 2017
Avaloq raises CHF 350M in private equity funding round.
1985
Avaloq Group AG founded.

Funding Rounds

Acquisitions

Patents

Further Resources

Title
Author
Link
Type
Date

Avaloq Co-Chiefs Overhaul Top Management

Web

June 4, 2021

News

Title
Author
Date
Publisher
Description
Michael Tattersall
November 12, 2020
Business Insider
Avaloq's new partnership with Google Cloud will position it to capitalize on financial institutions' rising planned investment in cloud strategies.
Reuters Editorial
November 21, 2019
U.S.
Private equity group Warburg Pincus is working with Goldman Sachs and Barclays on the planned 2020 sale or initial public offering of Swiss banking software company Avaloq, people close to the matter said.
Arno Schuetze
November 5, 2019
U.S.
Swiss banking software company Avaloq is starting preparations for a 2020 sale or initial public offering as its private equity shareholder Warburg Pincus seeks an exit, people close to the matter said.

References

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