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NORD/LB migrates three international branches to Avaloq Banking Suite

Friday 10 January 2020 13:34 CET | News

A subsidiary of German Landesbank NORD/LB, NORD/LB Luxembourg Covered Bond Bank (CBB) has announced the completion of the migration of three group international branches to Avaloq’s Banking Suite.

NORD/LB had selected Avaloq as its partner in 2010 in a bid to boost its wholesale and financial markets businesses. The partnership enabled the consolidation of American and mainland Chinese client entities in one centralised IT operations.

The latest implementation uses Avaloq’s multi-entity, single-instance (MESI) capabilities for centralising the bank’s IT operations in Luxembourg. This aims to reduce the complexity and offers a range of functionalities to NORD/LB. The solution leverages the fully integrated corporate and wholesale banking functionalities of the Avaloq Banking Suite, already used by NORD/LB CBB to run the institution’s New York, Shanghai and Singapore operations on one platform.

The full scope of the migration was undertaken by implementation partner Orbium.

 


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Keywords: Nord/LB, Avaloq Banking Suite, banking
Categories: Banking & Fintech | Payments General
Countries: Luxembourg
This article is part of category

Banking & Fintech