BancaStato and its private banking arm Axion SWISS Bank have prolonged their partnership with Avaloq.

This consists of core banking solutions and a major upgrade of the banks’ online channels. As a result, BancaStato is Switzerland’s first cantonal bank to go live with the latest version of Avaloq’s web banking and mobile banking solution.

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BancaStato is a financial institution in the canton of Ticino, providing many banking services. Its private banking affiliate Axion provides tailored portfolio management and advisory services.

Both banks are now on the upgraded Avaloq web and mobile solution. As a a result, the Avaloq Core Platform enables banks and wealth managers to automate and standardise workflows. Also, it allows firms to offer investment products of any complexity.

Curzio De Gottardi, member of the executive board and head of products and services at BancaStato, said: “We are proud to be the first cantonal bank to offer our clients the latest version of Avaloq’s web and mobile banking. This marks an important step in our long-term partnership with Avaloq, and we are delighted to share that our upgraded online banking channels have been well received by our clients.

“After a two-week cutover period, we were already fully convinced by Avaloq’s new web and mobile banking solution, and we were also pleased with the smooth migration process. With Avaloq, we can rely on a trustworthy partner for our core banking system, banking operations outsourcing and client interaction channels, and we look forward to continuing our strong partnership with Avaloq in the years to come.”

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Georges Roten, regional head Switzerland & Liechtenstein at Avaloq, added: “We are committed to supporting BancaStato and Axion on their digitalisation journey by automating end-to-end processes, from order entry to execution and reporting, while enhancing their client interaction channels on web and mobile. Our SaaS deployment model on Avaloq private cloud will continue to provide a high degree of operational flexibility and standardisation, which will drive efficiency and support the future business growth of BancaStato and Axion. As a leader in wealth management technology, we will continue to innovate to keep our clients ahead of the curve.”