Partnership Between Avaloq And HCL Technologies To Accelerate Innovation In Digital Wealth Management

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Avaloq, a leading provider of digital banking solutions, has expanded its global relationship with HCL Technologies (HCL), a prominent global technology business. For Avaloq clients, HCL will now build a world-class lifecycle management centre and invest in ongoing training and development for HCL teams working with Avaloq products. To drive innovation across the industry, these investments will combine HCL’s strong domain knowledge in financial services with Avaloq’s experience in digital wealth management technologies.

“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,”

said Martin Greweldinger, Co-Chief Executive Officer, Avaloq.

HCL’s digital transformation execution framework (FENIX 2.0) and next-generation AI and automation (DRYiCE) technologies will be used to drive efficiency at the new lifecycle management center.

“We are observing a huge increase in demand for digital wealth and asset management capabilities globally. This trend is being driven by the continued emergence of new asset classes such as cryptocurrency, which is only set to continue in the future. 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,”

said Rahul Singh, President of Financial Services and Digital Process Operations, HCL Technologies. 

HCL is upskilling its wealth management staff around the world by enrolling them in Avaloq Academy specialized training and developing program-specific competencies. This new partnership will enable more financial institutions to use Avaloq’s innovative technology and services on their digitization journey, in addition to HCL’s wealth and asset management solutions.

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