Avaloq

Avaloq's story begins in 1985 in Zurich, Switzerland, when it was founded as 'BZ Informatik Aktiengesellschaft', the information technology arm of BZ Bank. Initially, with a small team of five, a significant step was taken in 1991 when employees acquired 30% of the share capital in a partial management buyout. This early phase saw the company secure the Swiss National Bank as its first client, followed by other Swiss commercial banks, laying the groundwork for its future expansion. The company's product was initially known as “AdvAntAge”.

The pivotal year 1996 marked the adoption of the name Avaloq. A complete separation from BZ Bank occurred in 2001 when employees took full ownership of the company. This independence fueled Avaloq's growth, with product development centered in Zurich and Edinburgh, and a support center established in Manila. The company strategically expanded its global presence, notably in Germany in 2013 through a cooperation with quirin Bank and the acquisition of Höll Computer & Software GmbH, leading to the establishment of Avaloq Sourcing (Deutschland) AG. By 2015, Avaloq had launched BPO (Business Process Outsourcing) centers in Germany and Singapore. A major milestone in Avaloq's journey was its acquisition by NEC Corporation in October 2020 for $2.2 billion, a move aimed at accelerating long-term growth and global expansion for both entities. Today, Avaloq stands as an industry-leading provider of wealth management technology and services, serving over 170 clients in 35 countries with more than 2,500 employees across 11 countries. Its mission is to orchestrate the financial ecosystem and democratize access to wealth management, driven by a vision to be the leading provider of cutting-edge banking software and services.