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Raiffeisen Switzerland sheds its stake in core banking tech vendor Avaloq

Switzerland

Raiffeisen, the third largest banking group in Switzerland, is selling its 10% stake in core banking tech vendor Avaloq to private equity firm Warburg Pincus.

Edmond de Rothschild live with new core banking system, Avaloq Banking Suite

Edmond de Rothschild logo

Banque Privée Edmond de Rothschild (EDR) has gone live with a new core banking platform for its Swiss operations, Avaloq Banking Suite, supplied by Avaloq.

Avaloq signs core banking tech deal with Bank of Asia

Avaloq gets new core banking customer, Bank of Asia

Bank of Asia, a start-up digital bank in the British Virgin Islands focused on companies that have ties to Asia, has signed for the Avaloq Banking Suite core platform.

apoBank opts for Avaloq Banking Suite

Avaloq gets new core banking customer in Switzerland

Deutsche Apotheker- und Ärztebank (apoBank) has selected the Avaloq Banking Suite as it looks to increase operational efficiency via a digital strategy. As reported last year, apoBank was considering the implementation of Avaloq’s flagship core banking system. The two parties signed a contract to “analyse and elaborate how far the execution of the apoBank IT […]

Luxoft Financial Services acquires Unafortis for new global Avaloq practice

Luxoft goes shopping

Luxoft Financial Services is moving into the Avaloq implementation and consulting business with the acquisition of Unafortis, a Swiss wealth management consultancy firm.

Top fintech stories this week – 25 August 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Fiserv buys payments software vendor Dovetail Pushes deeper into the payments infrastructure sector. Mobile contactless transactions hit £370m in UK in H1 2017 A whopping 336% year-on-year increase. Avaloq maintains momentum with massive earnings rise Adjusted EBITDA increased […]

Avaloq maintains momentum with massive earnings rise

Avaloq gets new core banking customer in Switzerland

Avaloq has reported impressive earnings growth for the first half of 2017 due to investment in its banking suite and the “accelerating trend of the market” towards digital, Software-as-a-Service (SaaS) and transaction processing services. For H1 2017, the firm says compared to the same period last year, adjusted EBITDA increased 257% to CHF 36.3 million […]

Banking tech consultant and integrator Sofgen to be absorbed into Tech Mahindra

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Sofgen, a Switzerland-based IT consultant and integrator in the financial services and banking space, is undergoing major organisational restructuring. As a result, it will be completely absorbed into its parent, Tech Mahindra, Banking Technology understands.

Top fintech stories this week – 16 June 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Warburg Pincus buys stake in Avaloq

Avaloq gets new core banking customer in Switzerland

Private equity (PE) firm Warburg Pincus has acquired a 35% shareholding in Avaloq from existing shareholders – with the deal a first step towards a potential public listing. The transaction values Avaloq in excess of CHF 1 billion ($1 billion). Detailed financial terms are not being disclosed, but Francisco Fernandez, CEO at Avaloq, retains a […]

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