HCL Technologies widens partnership with Avaloq

HCL Technologies, a leading global tech company, has expanded its global partnership with WealthTech Avaloq to develop a lifecycle management center for their clients.

According to HCL, the new lifecycle management center will leverage HCL’s digital transformation execution framework FENIX 2.0 and next generation AI and automation products to drive efficiency.

HCL will also invest in ongoing training and development for HCL teams working with Avaloq products. The company will upskill the teams by enrolling them in specialised training from the Avaloq Academy and building program-specific competencies.

The investments, HCL claims, will combine its deep domain knowledge in financial services with Avaloq’s expertise in digital wealth management technology to accelerate innovation.

HCL president of financial services and digital process operations Rahul Singh said, “We are observing a huge increase in demand for digital wealth and asset management capabilities globally.  This trend is being driven by the continued emergence of new asset classes such as cryptocurrency, which is only set to continue in the future. HCL’s customer experience-focused approach enables us to work with clients across the world to drive innovation and ensure they remain at the forefront of these changes. We are delighted to expand our partnership with Avaloq as it is a leading provider of wealth management technology and services.”

Avaloq co-CEO Martin Greweldinger added, “As Avaloq continues its international expansion, we are aiming to provide more flexibility to our implementation capabilities, supporting our long-term growth. Therefore, we are delighted to expand our existing partnership with HCL to leverage its strong global presence and its domain knowledge in financial services to provide banks and wealth managers with access to our products and services in many different regions across the world.”

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