Singapore/Hong Kong, 18 October 2013 -
The Avaloq group, a leader in integrated and comprehensive banking solutions, is proud to announce it has been positioned in the ‘Leaders’ quadrant by Gartner in the recently released ‘Magic Quadrant for International Retail Core Banking (IRCB) 2013’
report. Avaloq sees this as recognition of its strong community work and ability to deliver a full-service BPO option to its customers.
For Avaloq being positioned in the Magic Quadrant is a confirmation of its success in the retail segment and its market vision. "We are convinced that our unique community including client banks, universities, associations and partners gives us that extra edge by gaining important market knowledge. The feedback coupled with our own vision and insights from our BPO centres ensure that we stay ahead of trends and develop product capabilities accordingly”, says Francisco Fernandez, CEO of Avaloq. Pascal Foehn, Head of Marketing and Sales HQ Avaloq, adds: "After having been named ‘best selling private banking solution in the world’ by IBS, we are proud of Gartner’s recognition as a leader that is able to address present and future needs of retail banks."
In the report, Gartner positioned vendors based on two parameters: ‘completeness of vision’ and ‘ability to execute’. To be included in the IRCB 2013 report vendors had to demonstrate market traction and momentum as well as product capabilities in international retail core banking.
Gartner's Magic Quadrant on international retail core banking (IRCB) software assesses vendors on the multi-currency products they offer in support of the bank’s financial transaction management in the retail banking market. Avaloq provides a fully integrated front to back banking solution and has a worldwide customer base of more than 100 banks, including tier one banks in the most demanding financial centres.
Gartner, Magic Quadrant for International Retail Core Banking, Don Free, Ethan Wong, October 8, 2013.
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About Avaloq: Essential for Banking
The Avaloq group is an international leader in integrated and comprehensive solutions for wealth management, universal and retail banks. It has a reputation for the highest standards in engineering excellence, is passionate about innovation and invests more in R&D than any other provider for the financial industry.
The company’s meticulous and uncompromising attention to detail has enabled it to achieve a unique 100% success rate in its implementation of banking solutions around the world. Avaloq is the only independent provider for the financial industry to both develop and operate its own software. Business process and IT outsourcing solutions are offered from Avaloq’s BPO centres in Switzerland and Germany. The entire Avaloq Banking Suite is consistently designed throughout and delivers unique business benefits to its users as well as strong technical performance.
The company employs more than 1,400 highly qualified banking and IT specialists and has a global customer base of more than 100 financial institutions in over 20 countries worldwide, including tier one banks in the most demanding financial centres. Headquartered in Switzerland, Avaloq has branches in Berlin, Frankfurt, Geneva, Hong Kong, Leipzig, London, Luxembourg, Paris, Singapore, Sydney and Zurich. It has development centres in Zurich and Edinburgh as well as a development support centre in Manila.
For more information, please visit www.avaloq.com
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