We innovate systematically, continuously, successfully: in collaboration with our customers, leading universities, technical colleges and partners.
Phone: +41 58 316 10 10
The Business Debate interview with
Group CEO Francisco Fernandez on digital banking innovation
What is innovation? Innovation is all kind of changes, whether large or small, in products or in services. How does Avaloq approach innovation and what does its innovation process look like?
Without a solid and brilliant network, innovation cannot take place. In order to continuously develop our leading banking software, the Avaloq Banking Suite, and our wide range of managed banking services, we only work with the best: the Avaloq Community.
To enhance the Avaloq Community, we foster talents because we are convinced that talent is the prerequisite for developing first-class banking software solutions. This is why over 80% of our employees hold university degrees. In its development centres in Zurich, Edinburgh and Manila, Avaloq benefits from the graduates of excellent technical and business schools as well as of its presence in the most demanding and well-developed financial markets in the world.
The intensive exchange between our highly skilled software developers and banking experts within the Avaloq Community is our critical success factor and for this reason, we promote several innovation platforms. These provide the whole Avaloq Community with a space to continuously push innovation and regularly enhance the future of banking. For example, we organise Avaloq events such as knowledge groups, the Community Conference, the Executive Circle with its Annual Summit and the Partner Day.
In the Avaloq Community, Avaloq, customers and partners bring their skills together. Within this network of excellence, know-how, expertise and best practice can be shared across the whole Avaloq Community, e.g. on competence-sharing platforms or at dedicated events.
The Avaloq Executive Circle brings together C-level representatives who lead Avaloq powered financial institutions.
The annual event for business and IT leaders in the Avaloq Community.
The annual international event for strategic partners of Avaloq with a focus on implementation, software development, distribution and technology.
Moreover, we believe in a joint development to boost the Avaloq software performance. However, we do not only have events to exchange experiences and ideas, but we also encourage innovation partnerships with customers and partners. We are in close contact with Fintech companies from across the globe – many of them offer their solution to the Avaloq Community on the Avaloq Software Exchange.
We believe that innovation is more than the development of new products and services. It is a mindset and needs an encouraging environment as well as the right framework. Together with leading universities, we have developed our path to innovation. Along this framework, innovation happens – being customer, market or strategic innovation.
Avaloq encourages entrepreneurship: In order to catalyse ideas and to select the best ones to deliver innovation, we give our employees the possibility to be “intrapreneurs”.
On a yearly basis, we organise the Avaloq Innovation Day at which our employees can present their innovation ideas in an informal way to their colleagues. Among the presented ideas, the best are then selected by the Innovation Board, a group of delegates of the executive board which acts as "venture capitalists". As a next step, the selected idea owners, the Avaloq innovators, engage with the Avaloq Community to present their ideas and to understand first-hand if their ideas might be a business success. At the Avaloq Investor Day, the results are presented and the Innovation Board decides which ideas get a group investment to be eventually developed.
This process highlights the importance innovation has for Avaloq and how we focus on strong employees to promote and foster innovation within the Avaloq Community.