Google Cloud and Avaloq, a Swiss-based digital banking solutions provider, announced a new strategic partnership to help financial services organisations in their digital transformation using cloud technologies.

This new partnership is set to enable financial institutions to use the Avaloq Banking Suite and other Avaloq platforms on Google Cloud.

“The financial services industry is undergoing rapid shifts, as banks seek to deliver strong, digital-first experiences to customers. Avaloq provides core and digital banking solutions for many of the world’s leading banks and financial institutions, and we are delighted to partner with Avaloq to support cloud-based transformation for these customers.”

said Avanish Sahai, Vice President, Partnerships at Google Cloud.

Due to its experience with Avaloq implementations, Orbium (part of Accenture Wealth Managemnet) was selected to support the testing and implementation procedures in Google Cloud.

Bringing the Avaloq Banking Suite to Google Cloud is said to enable financial institutions to rapidly provision infrastructure for deployment of their Avaloq applications, combined with the flexibility provided by the cloud including Bare Metal solutions to meet the needs of each customer.

Additionally, customers will also obtain the benefits of security and performance, along with improved scalability. With Avaloq’s Sensitive Data Segregation services, the partnership will also enable customers to store their data close to home, helping banks adhere to local data residency requirements.

Thomas Beck, Group Chief Technology Officer at Avaloq, said:

“We are truly impressed by Google Cloud’s innovative solutions and are excited to partner with this distinguished firm. This strategic partnership builds on Avaloq’s multi-cloud strategy, which allows our clients to pick and choose from a wide range of state-of-the-art IT infrastructure solutions.”