Edmond de Rothschild live with new core banking system, Avaloq Banking Suite
New tech to “fulfil digital ambitions”
Banque Privée Edmond de Rothschild (EDR) has gone live with a new core banking platform for its Swiss operations, Avaloq Banking Suite, supplied by Avaloq.
The front-to-back office solution is provided on an outsourced basis, with Avaloq hosting it at its Swiss business process outsourcing (BPO) centre, Avaloq Sourcing Switzerland.
EDR embarked on a tech modernisation project last year, spanning Switzerland, Luxembourg and Monaco. The latter two will be migrated to the new platform in 2018.
A number of legacy solutions are being replaced by Avaloq Banking Suite at EDR, including SAB’s SAB AT and ERI’s Olympic core banking systems, Banking Technology understands.
In addition “a comprehensive set of outsourcing services”, Avaloq says it also now provides the bank with “a new, centralised operating model based on a homogenous IT platform with the same processes across all regions”.
Ariane de Rothschild, president of the executive committee of the Edmond de Rothschild Group, says the new technology is “key in allowing us to innovate and fulfil our digital ambitions”.
