BHF-BANK has chosen the Avaloq Banking Suite as its new banking solution to renew its core banking solution as part of an extensive IT modernization program.
Scheduled to go live in 2016, the software installation will be done by Avaloq Sourcing (Deutschland), the full service business process outsourcing subsidiary of the Avaloq group in Germany.
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Currently, Avaloq Sourcing offers services to five private banks in Germany, which are presently being migrated to the German version of the Avaloq Banking Suite.
Avaloq said that its banking suite was the open architecture of the solution, which enables BHF-BANK to liberally combine with other specialized software components.
GFT, a global specialist for IT consulting and application services, will serve as the implementation partner of Avaloq banking suite.
BHF-BANK executive board member Frank Behrends said, "With the selection of a new core banking system, we are finalizing our strategic realignment programme."
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By GlobalData"After outsourcing our IT operations and securities processing, the decision for the Avaloq Banking Suite puts our bank on a modern, business-oriented platform," he added.
