The bank will implement all modules of the Avaloq Banking System and more than 250 employees at Rothschild will be working with the system across the bank’s London and Zurich branches.
Rothschild Private Banking & Trust CEO Veit de Maddalena said they chose Avaloq System as it comes with a preconfigured ‘Model Bank’ and covers all the functionalities needed by a bank – front to back.
"We are positive that the Avaloq Banking System will help us substantially reduce our operating risk and increase our ability to support new markets," de Maddalena said.
Avaloq UK managing director Jose Manuel Carro said the signing of their third private banking customer in the UK demonstrates the strength of their solution in the market.
"As banks in the UK look to manage the many challenges in today’s market, we believe the Avaloq Banking System can help to support financial institutions in better managing their risk, improving efficiency and enabling greater transparency," Carro said.
Rothschild Private Banking & Trust is Avaloq’s third UK private banking customer: Adam & Company went live with the Avaloq Banking System in early January and Coutts is currently implementing the system.
