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Deutsche Bank extends contract with Avaloq

Monday 4 May 2020 12:41 CET | News

Germany-based Deutsche Bank has renewed its contract with the cloud banking provider Avaloq in Asia and in Europe until the end of 2028. 

The contract covers Deutsche Bank’s wealth management businesses in six countries – Switzerland, Luxembourg, the UK, Saudi Arabia, Singapore and Hong Kong – and represents a significant business process as a service (BPaaS) and software as a service (SaaS) for Avaloq.

According to Hubbis, the extension of the contract will see Avaloq providing the institution with an integrated, end-to-end outsourced service that reduces complexity while delivering scale benefits and data analytics at lower cost. Therefore, it allows Deutsche Bank to focus on and deliver a client service proposition and new products.


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Keywords: Deutsche Bank, Avaloq, Germany, cloud banking, Asia, Europe, BPaaS, SaaS, Switzerland, Luxembourg, UK, Saudi Arabia, Singapore, Hong Kong, data
Categories: Banking & Fintech
Companies:
Countries: Germany
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Banking & Fintech