Avaloq, the Swiss banking software company, has opened a new regional business hub in Singapore. The office will house the firm’s first foreign combined software and service center.
The Zurich-based software provider has had a presence in the region since 2007, but is moving some functions from its present Singapore base to bring its traditional software and growing banking operations services together under one roof at the Bugis Junction Towers site.
The pace of growth and the significant business opportunities in the region has driven the need for new and more spacious premises, Avaloq said in a statement on Wednesday. It will however retain its present offices in the Galaxis East Tower to ensure a smooth service delivery to customers.
Statement of Ambition
Avaloq Chief Executive Juerg Hunziker said that the new hub represented «a clear statement of our ambitions in the Asia-Pacific market». The Swiss software company has a strong focus on Asia, with customers including Bank of Asia, Maybank and China CITIC Bank. The new office will house 100 workplaces and meeting rooms with capacity for further expansion.
In February 2018, Avaloq landed a contract with a bank in Thailand, its first customer in that emerging market.
