HCL Technologies UK, a subsidiary of IT providers firm HCL Technologies, has signed a definitive pact for acquisition of Switzerland-based Confinale, a digital banking and wealth administration consulting specialist.
With this strategic acquisition, HCL will increase its footprint within the international wealth administration market with emphasis on Avaloq consulting, implementation and administration capabilities, it stated in an announcement on Monday.
Confinale, based in 2012, focuses on IT consulting in key areas within the banking and wealth administration sector. With workplaces in Switzerland, together with Zurich, Zug and Geneva, and in addition in Dsseldorf and London, Confinale works with a slew of main banks and wealth advisors.
Confinale has one of many largest unbiased swimming pools of Avaloq-certified specialists in Europe and its in-house developed merchandise and options speed up the implementation of the Avaloq platform.
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The digital banking and wealth administration specialist is one among solely 4 corporations to be awarded the title of Avaloq Premium Implementation Partner, the assertion stated. The acquisition is topic to customary closing circumstances, which is anticipated to be concluded in the end.
“We strongly believe in the need for banking expertise combined with software competence and HCL is the perfect fit for this,” Confinale CEO Roland Staub stated.
There is a big disruption going down in international wealth administration and this implies a possibility for technology-led innovation, Rahul Singh, President of Financial Services and Digital Process Operations at HCL Technologies noticed.
“This acquisition significantly strengthens HCL’s digital wealth and asset management capabilities and expands our presence in the heart of the global investment banking sector,” Singh added.
(Edited by : Asmita Pant)
Hcl Tech To Acquire Switzerland-Based Digital Banking And Wealth Management Firm & More Latest News Update
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