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Avaloq’s BPaaS to boost apoBank’s securities processing service

Jürg Hunziker, CEO of Avaloq

Avaloq announced that Düsseldorf-based Deutsche Apotheker- und Ärztebank eG (apoBank) has selected the supplier’s Business Process as a Service (BPaaS) solution for boosting its securities processing offering.

Jürg Hunziker, CEO of Avaloq stated, “I am delighted that apoBank has decided to intensify our cooperation even further. This is a great success for our service business in Germany, and we are pleased about this proof of confidence by apoBank, a pioneer in digital transformation in Germany. We see increased demand in the market for SaaS and BPaaS and our high-performance digital banking solutions, and I’m confident we will continue to benefit from this momentum going forward.”

apoBank recently appointed the supplier for replacing its core banking system. Avaloq is expected to establish an office location in Düsseldorf and will take over the securities settlement from apoBank, once the new core banking software goes live.

Eckhard Lüdering, a member of the apoBank executive board, said, “We are moving ahead with our IT migration and are currently getting our infrastructure ready. We envisage going live in the middle of the year. The effort will be worth it because the new IT is the basis for us becoming faster, more digital and more specialized. We want to offer our customers innovative digital solutions for securities settlement. Transferring our securities settlement to Avaloq in a BPaaS model was a logical step. It will reduce complexity, simplify and accelerate processes, and create the space for us to concentrate on personal advice in our customer business and further expand our services.”

Recently, IBS Intelligence reported that Avaloq and Zug-based FinTech atpoint announced a partnership, which started as a result of the cooperation on the latter’s advisor tool atpoint.FINAP360.

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