Raiffeisen banks go live on the Avaloq platform

Friday 1 February 2019 10:27 CET | News

Raiffeisen and Avaloq have readjusted their long-term collaboration, allowing all Raiffeisen banks in Switzerland to go live on the Avaloq platform.

As such, this IT project was successfully completed at the beginning of January 2019. As a result, 253 banks, which comprise 246 Raiffeisen banks, six branches, and the central bank, will now be operated on one platform. The platform is available to all 11,000 employees at 900 separate Raiffeisen sites throughout Switzerland.

Both Avaloq and Raiffeisen have signed a long-term agreement, in which Raiffeisen Switzerland will acquire Avaloq’s 49% stake in the joint venture ARIZON Sourcing AG. However, the goal is for Raiffeisen Switzerland to further develop and operate the platform itself, in the future. ARIZON will be fully integrated into Raiffeisen Switzerland in H1 of 2019.

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Keywords: Raiffeisen, banks, Avaloq, Switzerland, collaboration, banks, central bank, acquisition, stake, joint venture
Countries: World

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