HCL acquires digital banking specialist

HCL Technologies UK Ltd, has acquired Confinale AG. The Switzerland-based firm is a digital banking and wealth management consulting specialist and an Avaloq Premium Implementation Partner.

Avaloq’s software and solutions help banks and other financial services providers in their digital journeys. For example, Avaloq Core is a banking system for private banks and wealth managers supporting day-to-day banking operations.

Confinale is an important player in the market and according to HCL has one of the largest independent pools of Avaloq-certified specialists in Europe. Furthermore, HCL will be gaining products and solutions that Confinale has developed that help to accelerate the implementation of the Avaloq platform. It’s a sage move by HCL, expanding its offerings in banking and wealth management and deepening its expertise in the sector.

Alongside solid organic revenue growth (see FY22 results), HCL has been adding depth to its portfolio with acquisitions. In January it acquired Starschema (data engineering services, based in Hungary) and in December 2021 it acquired German consulting firm, Gesellschaft für Banksysteme GmbH, with cooperative bank, apobank. The latter strengthens HCL’s presence in the German financial services market.

Posted by: Kate Hanaghan at 09:30

Tags: acquisition   financialservices   banking   wealthmanagement  

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