Switzerland-based digital banking solutions provider Avaloq has announced expanding its long-term cooperation with cooperative bank Deutsche Apotheker- und Ärztebank ( apoBank ). Avaloq offers digital banking solutions, core banking software, and wealth management technology.

In 2020, apoBank introduced the Avaloq Core Platform as its core banking system and has been using Avaloq's Business Process as a Service (BPaaS) model ever since. In the future, Avaloq will take over the entire operation and additional development activities related to the core banking system of the institute. The banking solutions provider will use its cloud-based service model for this.

The partners aim to continuously work on the IT systems to develop solutions for apoBank customers and increase efficiency. According to an apoBank representative, they are increasingly working on the standardisation of their processes and increasing their speed of adaptation to regulatory requirements. An Avaloq representative stated that their technology and services will contribute to this standardisation and increase in operational efficiency.

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