GFT and Avaloq extend partnership

Oct. 25, 2011 - PRLog -- London, 25 October 2011 – International IT company GFT Technologies AG (GFT) is extending its long-running partnership with Avaloq Evolution AG, a leading producer of integrated banking software solutions. The appointment of GFT as an Implementation Partner will strengthen the successful partnership between the two companies. “An increasing number of financial institutes are modernising their core banking systems and choosing standardised products such as the Avaloq Banking System. In combination with GFT’s international development network, our Core Banking Competence Centre will enable us to provide extensive specialist knowledge with a high degree of flexibility,” says GFT’s Executive Board member Marika Lulay.

The extended partnership means that the focus is now on jointly tapping international market potential. Clients will be able to benefit from a combination of proven banking software solutions as well as many years of technological knowledge and process expertise in the finance sector.

“With our international Avaloq Competence Centre based near Zurich, we aim to build on our existing knowledge in core banking systems. This will enable us to provide a wide range of consulting services to our international clients regarding the selection, implementation and maintenance of core banking solutions,” comments Marika Lulay. The GFT Group strengthened its core banking expertise in June this year with the acquisition of Asymo, a Swiss IT specialist for Avaloq services. The subsidiary has since been re-named GFT Financial Solutions AG and moved its head office to GFT’s facility in Glattbrugg.

“We are delighted that the agreement reached today will continue our partnership with GFT, which started in 2007 when Asymo was selected as an Associate Implementation Partner,” says Martin Niederöst, Head Business Partner Management of Avaloq. “At the same time, we are also underlining our trust in GFT as a reliable partner with outstanding solution expertise and a strong international presence. This will create new opportunities for us to expand the Avaloq Banking System across leading financial institutes throughout Europe.”

GFT currently employs over 25 Avaloq-certified staff and has already successfully implemented Avaloq products for more than ten clients. Marika Lulay adds: “Existing and future clients can continue to rely on our experts for cutting-edge technical and solution-oriented advice. In addition, we can also draw on specialists from our international production network according to client needs.”

Avaloq group: Essential for Banking

For more than 25 years, the Avaloq group has been supplying comprehensive, integrated banking software solutions to banks. The solutions delivered by Avaloq cover a wide range of fully integrated back, middle and front office functionalities and are operated at the most demanding financial centres in the world. At present, leading retail, private and universal banks in over 20 countries throughout the world trust Avaloq as a competent innovation partner and expert adviser. The Avaloq Community forms a strong network of excellence consisting of clients, partners and universities that together help to shape the banking technology of the future. The Avaloq group employs more than 1,200 highly qualified banking and IT specialists. The Zurich-based company maintains two development centres in Switzerland and the UK. Avaloq has further offices in Switzerland as well as at strategically important financial centres including London, Paris, Luxembourg, Frankfurt, Munich, Vienna, Singapore and Hong Kong.

See www.avaloq.com for further information.

GFT Technologies AG:
The GFT Group, headquartered in Stuttgart, Germany, is an international provider of innovative IT solutions and services. As a strategic IT partner, GFT supports its clients in the optimization of their business processes through intelligent IT systems and specialists and thus sustainably improves their competitive positions.

GFT is among the world’s leading IT service providers in the financial services sector. The company combines established technology experience with a wide range of industry expertise, in order to develop, implement and maintain customized IT solutions (Services division).
GFT recruits and places IT freelancers across a range of industries and locations. It also oversees the complete management package for its clients. The basis for this is a worldwide reserve of experts, consisting of over 180,000 freelance IT specialists (Resourcing division).

Ulrich Dietz founded GFT in 1987 and is now CEO and principal shareholder of the Group which, in 2010, achieved revenues of around €248 million. It has over 1,300 employees at locations in seven countries. The GFT share is listed on the Frankfurt Stock Exchange (Prime Standard: WKN 580 060, GEX).
See www.gft.com for further information.