Swiss private-banking software maker Avaloq has signed with a global IT firm. The deal will dramatically widen the reach of the company.
Avaloq has agreed to a deal with India-based IT firm Infosys, according to a joint statement released on Tuesday. Avaloq’s wealth-management software will made available via digital platforms, according to the terms of the pact.
Global Reach
The deal is very significant for Avaloq, because Infosys has a global reach with a product range including digital services and advisory, with 46 countries in its portfolio. The pact will allow Avaloq to sell its products in many more countries than hitherto.
Infosys will include the Avaloq software in its own solutions and deliver and implement at its clients. The clients of the Indian firm will receive advice on how to modernize their old systems and on the transformation to digital advisory platforms.
Standardized Implementation
The step will help Avaloq lower product and service costs. Infosys has a standardized implementation approach and Avaloq will be offering the software services via the Infosys cloud.
Avaloq aims to develop new markets together with Infosys, with the focus set on Europe, the Middle East, Africa and Asia.
