Sberbank (Switzerland) goes live with Avaloq’s SaaS solution

By Megha Bhattacharya

Avaloq today announced that Sberbank (Switzerland) has gone live with its Software as a Service solution. The implementation is expected to boost the financial institution’s growth project. Headquartered in Zurich, Sberbank (Switzerland) provides a range of corporate client and financial-market services that include trade finance, structured finance, transaction banking and global market products. It is a part of Sberbank Group, a banking group in Russia, Central and Eastern Europe.

Annett Viehweg, CEO of Sberbank (Switzerland) AG, said, “Sberbank has long prioritized digital excellence as a core means to enhance competitiveness, cater for fast-changing customer needs and capitalize quickly on growth opportunities. Sberbank chose Avaloq as its long-term partner to lay the foundation to continuously advance the bank’s systems and capabilities in a banking environment that is seeing ever-faster digitalization.”

Recently, Avaloq announced the launch of Avaloq Insight in a bid to provide advanced data science and AI to the wealth management sector. The new tool is a real-time data science cloud platform providing wealth managers and financial advisers with advanced levels of analytics and drive customer satisfaction as well as increase sales effectiveness based on big data technology.

Avaloq also announced a strategic partnership with Google Cloud for supporting financial organisations in their digital transformation. The partnership is expected to enable financial institutions to leverage the company’s Banking suite and other platforms on Google Cloud.

Mathias Schütz, Country Head for Switzerland & Liechtenstein at Avaloq, said, “We are delighted to have been selected by Sberbank to support the continued digitalization of its services and client proposition. This is further recognition of the strength of Avaloq’s suite and the benefits that it can deliver, and we are looking forward to supporting Sberbank’s growth ambitions in Switzerland.”