Bengaluru, India and Zurich, Switzerland – May 26, 2020
Infosys (NYSE: INFY), the global leader in next-generation digital services and consulting, today announced a strategic partnership with Avaloq, a leading wealth management software and digital technology provider headquartered in Zurich, to provide end-to-end (e2e) wealth management capabilities through digital platforms. As part of the announcement, Infosys will be a strategic implementation partner for Avaloq’s wealth management suite of solutions to help clients modernize and transform their legacy systems into cutting-edge digital advisory platforms.
Infosys will leverage its Global Delivery Model and a standardized approach to implement Avaloq’s solutions for clients. Avaloq’s specialized knowledge and experience in providing end-to-end wealth management solutions combined with Infosys’ global presence and digital transformation capabilities will help create a one-stop-shop for wealth management clients. Infosys will work closely with Avaloq to develop market opportunities beyond Switzerland and go to market capability for targeted accounts across multiple geographies. With an initial focus on EMEA and APAC regions, the partnership aims to offer e2e products and services as Software-as-a-Service (SaaS), private cloud or public cloud across the globe. Additionally, Infosys and Avaloq will jointly run specialized courses for Infosys experts to get enabled on the Avaloq platform.
Avaloq will also leverage Infosys’ delivery strengths including scale, its Global Delivery Model, its standardized implementation approach, proprietary Infosys tools, and accelerators to reduce the total cost of ownership for product implementation.
Mohit Joshi, President, Infosys, said, “We are excited to partner with Avaloq, a market leader in providing wealth management solutions. We are making significant investments in this partnership, which will materially enhance the value we offer to our financial services clients and will complement our approach to provide industry-focused wealth management solutions. I am excited about taking Avaloq’s SaaS and other cloud-based offerings to our wealth management clients to help them seamlessly scale up their operations.”
Juerg Hunziker, Chief Executive Officer of Avaloq, said, “Avaloq is a global leader in digital banking solutions, core banking software and wealth management technology. We plan to extend our leadership position and provide our SaaS and BPaaS services to the global wealth management segment. Avaloq’s industry-leading wealth management products coupled with Infosys’ proven delivery strengths will provide an integrated end-to-end solution for wealth management. With its global reach, large talent pool and impeccable delivery track record, Infosys is the perfect partner to help us achieve this goal.”
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
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Founded in 1985, Avaloq is a global leader in digital banking solutions, core banking software and wealth management technology. We provide powerful cloud computing solutions for banks and wealth managers through BPaaS (business process as a service) and SaaS (software as a service). Our established core banking system is complemented by three innovative platforms called Engage, Wealth and Insight, providing end-to-end digital solutions at a level of simplicity that will pave the way for the democratization of wealth management. To further spur innovation, we connect our clients with selected fintechs through our open banking marketplace called the Avaloq.one ecosystem. More than 150 banks and wealth managers with more than CHF 4.5 trillion in assets managed worldwide trust Avaloq for its award-winning products and services. Headquartered in Zurich, Avaloq has over 2,000 employees globally. More information is available at www.avaloq.com.
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2019. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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