Technology vendor Avaloq launches its own consulting group

Avaloq, a Swiss company that provides systems and automation solutions to the financial services industry, has launched its own business consulting arm.

The move is illustrative of the growing demand from financial services institutions for an integrated offering from its solution vendors. Banks and asset and wealth managers use Avaloq’s software, Business Process as a Service (BPaaS) and Software as a Service (SaaS) solutions to run their core operations and automate parts of their processes.

Traditionally, clients hire system integrators and management consultants to support the implementation process. Among the consulting firms that enjoy a recommended partner status for such implementations are Excelian, Orbium (part of Accenture), Synpulse, Accenture, IBM and Infosys.

Now, through the launch of its own consulting wing, Avaloq aims at winning a part of this lucrative market by offering such services in-house. Avaloq’s Business Consulting team will help its clients with designing and rolling out Avaloq solutions from scratch, upgrading and expanding existing applications, and with the setup of new Avaloq-based digital transformation projects.

According to the latest data available, Avaloq’s solutions are used by 150 customers including large banking groups such as HSBC, Barclays, Royal Bank of Scotland, UBS, Deutsche Bank, Maybank, Nomura and Société Generale.

Alain Gloden, appointed the Global Head of Avaloq’s new Business Consulting division, said that the unit will offer services in the areas of digital strategy, target operating model, process management and optimisation, channel management and optimisation, as well as business-, data- and application architecture services.

Gloden, who is based in Zurich and reports to Avaloq’s Group Head of Markets Paco Hauser, brings nearly three decades of experience in consulting and banking to the role. Prior to joining the Swiss company, he was a partner and managing director at international consulting firm IFB, where he was responsible for the European Banking practice. Earlier in his career he spent eleven years with strategic consultancy Arthur D. Little and Big Four giant EY.

In industry, Gloden held (senior) management positions at UBS and Credit Suisse. Commenting on his new role, he said: “Our aim is to develop a one-stop-shop value proposition for digital banking and digital wealth management. I am excited by the challenge.”

Paco Hauser added: “I am delighted to welcome Alain. With our new Business Consulting offering we will be able to optimise the outcomes for our clients.”