HCL Technologies to Acquire Confinale, Specialist in Digital Banking and Wealth Management | Business


ZURICH, Switzerland & NOIDA, India–(BUSINESS WIRE)–May 9, 2022–

HCL Technologies UK Limited, a wholly owned subsidiary of HCL Technologies (HCL), a leading global technology company, has signed a definitive agreement to acquire Confinale AG, a Swiss specialist in digital banking and asset management consultancy. heritage and Avaloq Premium Implementation Partner. Through this strategic acquisition, HCL will strengthen its presence in the global wealth management market by focusing on Avaloq’s advisory, implementation and management capabilities.

Founded in 2012, Confinale specializes in IT consulting in key areas of specialization in the banking and wealth sector. Confinale has one of the largest independent pools of Avaloq-certified specialists in Europe and its in-house developed products and solutions accelerate the implementation of the Avaloq platform. Confinale is one of only four companies to have been awarded the title of Avaloq Premium Implementation Partner. With offices in Switzerland, notably in Zurich, Zug and Geneva; In addition to Düsseldorf and London, Confinale works with a multitude of leading banks and wealth advisers.

The intellectual properties that are part of this acquisition support HCL’s strategy to build specialized vertical domain capabilities and position the company as a leader in end-to-end implementation and lifecycle management of the Avaloq platform. . This builds on HCL recently expanded global partnership with Avaloq and his acquisition of the German IT consulting company gbs in association with apoBank in December 2021.

“Joining HCL is an exciting new chapter for Confinale,” said Roland Staub, CEO of Confinale. “We strongly believe in the need for banking expertise combined with software competence and HCL is the ideal solution for this. It is a true global player with a strong heritage in the financial services industry. HCL’s reach will allow us to continue to grow while exposing our team to new opportunities for learning and innovation.

“There is significant disruption in global wealth management and that means an opportunity for technology-driven innovation,” said Rahul Singh, President of Financial Services and Digital Process Operations, HCL Technologies. “This acquisition significantly strengthens HCL’s wealth and digital asset management capabilities and expands our presence at the heart of the global investment banking industry. We welcome the Confinale team and look forward to continuing to drive digital banking innovation alongside Avaloq. »

“At Avaloq, we welcome the coming together of two of our key strategic partners,” said Martin Greweldinger, co-CEO of Avaloq. “HCL and Confinale have considerable knowledge of the financial services industry and a deep understanding of our technology. We consider the combination to be extremely beneficial as Confinale has strong implementation credentials, including being awarded Best Implementation Partner in 2020 and 2021. We believe this combination will help accelerate digital heritage transformation for our customers and thereby accelerating the pace of adoption of Avaloq’s products and services globally.

The acquisition is subject to customary closing conditions, which are expected to be finalized in due course.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220509005383/en/

CONTACT: HCL Technologies

Meenakshi Benjwal, Americas

[email protected] Ghudial, EMEA

[email protected] Pahuja, India and APAC

[email protected]

KEYWORD: EUROPE SWITZERLAND INDIA ASIA PACIFIC

INDUSTRY KEYWORD: FINANCE BANKING PROFESSIONAL SERVICES TECHNOLOGY SOFTWARE

SOURCE: HCL Technologies

Copyright BusinessWire 2022.

PUBLISHED: 05/09/2022 05:44 AM/DISC: 05/09/2022 05:44 AM

http://www.businesswire.com/news/home/20220509005383/en

Copyright BusinessWire 2022.


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