The testing of this functionality was supported by EY (Ernst & Young). As the next step, Australian superannuation functionality is being developed and integrated into the Avaloq Banking Suite.

Providing financial institutions with dedicated country-specific solutions is one of Avaloq’s key areas of expertise. Avaloq – which established its local presence in Australia just over a year ago – has established a team of local experts with substantial know-how, experience and knowledge of the country specific requirements of the Australian financial market.

“Our product developers and local banking experts work hand in hand when developing new solutions,” says Iain Dunstan, Regional Head Australasia at Avaloq.

“This approach, combined with our years of international experience, ensures that country specific requirements are always fulfilled.

That is why Avaloq is one of the few international financial solutions providers that have implemented the complex Australian tax regulations successfully,” Dunstan continues.

“We were engaged by Avaloq to help them fully understand the significant complexity of the Australian tax system”,says Jeroen Buwalda, Partner at EY.

“It is exciting to see a global provider like Avaloq introduce new technology to the Australian wealth and superannuation market,” Buwalda continues. 

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John Shuttleworth

Going live with the Avaloq Banking Suite on new BT Panorama Operating Platform creates new opportunities for Avaloq to enter the global wealth ‘Platform’ market.

The Avaloq group, an international leader in integrated and comprehensive solutions for wealth management, universal and retail banks, today announced that its first Australian customer has gone ‘live’ with its innovative Banking Suite software.

BT Financial Group, the wealth management arm of the Westpac Group, has successfully completed its first milestone in the implementation of the Avaloq Banking Suite. The new platformwill replace as many as seven heritage systems, and provide more than 13,000 BTFG users with the ability to manage a broad range of investments via a single application.

Avaloq is providing the core technologies to BT Financial Group’s new Panorama operating system, the first phase of which recently went live with the launch of the cash/term deposit component of the platform. The next deliverable, investment platform functionality, is currently being rolled out to the Panorama platform.

“The contribution of Avaloq to the first release of BT Financial Group’s Panorama operating system has been significant. We are looking forward to continuing this relationship as we roll out this important new phase in Australian financial services,” said John Shuttleworth, General Manager – Platforms and Operations at BT Financial Group.

“Going live with BT Financial Group is an important milestone in our expansion plans for the region. The progressive adaptation of the Avaloq Banking Suite to the Australian financial ‘Platform’ sector, positions us for local growth and other markets. We anticipate future interest from the UK and also the Asia Pacific region, where demand for these solutions continues to grow,” says Peter Scott, Avaloq Regional General Manager, Asia Pacific.

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