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Avaloq positioned as a ‘Leader’ in Magic Quadrant for International Retail Core Banking

The Avaloq group, a leader in integrated and comprehensive banking solutions, is proud to announce it has been positioned in the ‘Leaders’ quadrant by Gartner in the recently released ‘Magic Quadrant for International Retail Core Banking (IRCB) 2013’ report. Avaloq sees this as recognition of its strong community work and ability to deliver a full-service BPO option to its customers.

For Avaloq being positioned in the Magic Quadrant is a confirmation of its success in the retail segment and its market vision. “We are convinced that our unique community including client banks, universities, associations and partners gives us that extra edge by gaining important market knowledge. The feedback coupled with our own vision and insights from our BPO centres ensure that we stay ahead of trends and develop product capabilities accordingly”, says Francisco Fernandez, CEO of Avaloq. Pascal Foehn, Head of Marketing and Sales HQ Avaloq, adds: “After having been named ‘best selling private banking solution in the world’ by IBS, we are proud of Gartner’s recognition as a leader that is able to address present and future needs of retail banks.”

In the report, Gartner positioned vendors based on two parameters: ‘completeness of vision’ and ‘ability to execute’. To be included in the IRCB 2013 report vendors had to demonstrate market traction and momentum as well as product capabilities in international retail core banking.

Gartner’s Magic Quadrant on international retail core banking (IRCB) software assesses vendors on the multi-currency products they offer in support of the bank’s financial transaction management in the retail banking market. Avaloq provides a fully integrated front to back banking solution and has a worldwide customer base of more than 100 banks, including tier one banks in the most demanding financial centres.

¹Gartner, Magic Quadrant for International Retail Core Banking, Don Free, Ethan Wong, October 8, 2013.

Source: Avaloq, 17.10.2013

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