For banks and wealth managers that are ready to grasp the nettle, open banking and the developing API economy will offer the chance to get closer to clients and meet their needs like never before.
More than 10,000 days of high-intensity training and awards certification to 500 successful candidates each year, including participants from Avaloq, our partners and our clients. The academy’s mission is to develop and deliver a programme to build the expertise and professionalism needed to ensure the whole Avaloq community can work as efficiently and effectively as possible.
Providing enough qualified partners to help our clients with their implementation projects is a key element in Avaloq’s global growth strategy. This year we will be expanding our existing worldwide implementation force by more than a third, adding at least 50 new implementation specialists in Europe and another 40 in Asia Pacific.
Today, it’s GDPR, MiFID II and PSD2. Tomorrow, it could be Basel IV and the Brexit aftermath. Regulatory issues are going to be high on the industry’s agenda for years to come. According to the Financial Times, financial services companies are already spending up to 10 per cent of their revenues on compliance functions – and that bill could potentially double in the next five years.
BPaaS (business process as a service) is about offering our clients cost-effective access to the building blocks of banking – services like payments processing or securities transactions – via a flexible pay-per-use model.
By concentrating on a human-centred design-first approach, we aim to create cleaner, more user-friendly interfaces and seamless, streamlined end-to-end user experiences.
In 2018, we have been pursuing our evolution towards increased modularization and continuing to work on self-contained systems with microservices deployed as Docker containers on Kubernetes.
Alongside tactical innovation projects aimed at meeting current needs, Avaloq invests a lot of effort to explore emerging trends and test new ideas in our innovation labs, in collaboration with our partners and clients.
Open APIs are the key to fast, sustainable innovation and a critical part of our ecosystem strategy.
We have made the development of a comprehensive digital business ecosystem a strategic priority, with the goal of making a wide range of new fintech innovations accessible to our clients as quickly and simply as possible.