Zurich, 6 October 2009
Basler Kantonalbank successfully rolls out the Avaloq Banking System
On 5 October 2009, Basler Kantonalbank (BKB) successfully began using the Avaloq Banking System. The challenging implementation of the core banking system was completed after only eighteen months. A variety of large cantonal banks now use Avaloq's core banking system. In Switzerland, software company Avaloq has a market share of 42%.
For Basler Kantonalbank, the implementation of the banking software represents a key step towards preparing itself for future challenges in demanding market conditions. Since 5 October 2009, the universal bank has carried out its banking transactions using the Avaloq Banking System. Some of the bank’s trading and portfolio management operations are scheduled to be switched to the Avaloq Banking System in a second phase. The Avaloq Banking System replaces a range of existing systems and enables Basler Kantonalbank to work with a modern and integrated banking solution in all the areas of its business. Basler Kantonalbank hopes that using the Avaloq Banking System will help it to provide even better support for its clients, increase efficiency and reinforce its strong position in the Swiss banking market.
The implementation phase began in May 2008. Over 700 licensed users now benefit from a core banking system which, thanks to its wide-ranging functionality and innovative potential, puts Basler Kantonalbank in the best position possible to enjoy a successful future. Hans Rudolf Matter, CEO of Basler Kantonalbank, says: “We are happy that we can now draw on Avaloq’s expertise. Thanks to the professional cooperation with the implementation partners and Avaloq, we were able to successfully roll out the Avaloq Banking System in record time. This project, which is strategically important for us, forms the basis for the introduction of new, innovative business processes, which will pave the way for further growth at the bank."
Francisco Fernandez, CEO of Avaloq Evolution AG, is pleased with the successful rollout of the Avaloq Banking System at BKB: “The implementation of the software at Basler Kantonalbank represents a key milestone for Avaloq with respect to the Swiss market. Now all large cantonal banks use one of the most innovative banking software systems available, which has helped us expand our market share to 42%. We want to continue to build on and consolidate our position as market leaders in Switzerland.”
After successfully rolling out the Avaloq Banking System at its parent company Basler Kantonalbank , the BKB group will now go on and implement it at its subsidiary Bank Coop. The rollout of the Avaloq Banking System at Bank Coop is scheduled for January 2011.
Avaloq Licence AG
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Mats Bachmann Ihr
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The Avaloq Group is the Swiss market leader for standardised banking software, with locations in Luxembourg and Singapore. Over 35 banks worldwide rely on the Avaloq Banking System, which is specifically tailored to suit the business processes and requirements of an innovative bank. Whether private, retail or universal, banks become more efficient and increase transparency with Avaloq. However, Avaloq offers a lot more than a banking system: the Avaloq Academy ensures that all project team members have been properly trained so they can leverage the full potential of the Avaloq Banking System. And the Avaloq Community brings together over 35,000 Avaloq users, customers and partners to share information on the Avaloq Banking System and Banking Software.
Basler Kantonalbank is a universal bank, which operates primarily in north-west Switzerland. It manages its Swiss and international private banking clientele from units in Basel, Zurich and Olten. In addition, its specialist teams in Basel and Zurich provide services for large corporate clients, institutional clients and banks throughout Switzerland. Since 2000, Basler Kantonalbank has held a majority interest in Bank Coop, which has branches throughout Switzerland. It benefits from a state guarantee and an AA+ rating from S&P. Measured by balance sheet, the BKB Group is one of the ten largest Swiss banks.
BKB participation certificates are traded on the SWX Swiss Exchange (Tickersymbol: BSKP / Reuters: BSKP.S / security no.: 923646 / ISIN number: CH0009236461). The participation certificates have a nominal value of CHF 8.50.