To bolster cloud and IT service deliver, both the Technology companies IBM and Avaloq have signed an agreement earlier this week. This partnership will help to develop a private Swiss Banking Cloud and to refurbish Avaloq’s IT service delivery model leveraging IBM’s Infrastructure as a Service (IaaS) offering.
“This initiative supports our general endeavor to standardize and automate the financial industry and is in line with Avaloq’s vision to enable the financial industry to provide state-of-the-art client experience in a highly efficient and compliant way,” said Jurg Hunziker, CEO of Avaloq Group.
According to the agreement, IBM will offer its own cloud resources and Avaloq’s private cloud infrastructure services in Switzerland. In addition, Avaloq’s current employees in Switzerland will join IBM in the existing locations. The private cloud infrastructure and the fresh operating model will strictly adhere to the legal and regulatory requirements for banks and leveraging IBM’s global best practices.
As part of a hybrid cloud environment, Big Blue will also provide the Swiss software merchant with private cloud infrastructure services in its own country, as well as provide access to its global cloud resources and capabilities. It will also help Avaloq to continue being at the front in converting banking know-how into innovative services, which will allow financial institutions to operate in a secure, cost-effective and compliant manner.