Four Swiss cantonal banks have partnered with banking software and wealth management technology provider Avaloq to enhance mobile banking services for approximately one million clients in Switzerland.

The consortium comprises Basellandschaftliche Kantonalbank, Basler Kantonalbank along with Bank Cler, St. Galler Kantonalbank and Thurgauer Kantonalbank.

These institutions collaborated to evaluate and select a technology vendor to support their digitisation strategies.

Phased Rollout for Digital Banking Tools

The project will transition the banks to the new Avaloq mobile platform in phases. The updated application provides trading and portfolio management tools, customisable dashboards, real-time notifications and credit card management capabilities.

It also integrates Apple Pay and Google Pay, and allows the banks to add features independently over time.

Beyond the software deployment, the project serves as a model for stronger collaboration among cantonal banks.

By pooling their experiences and aligning their innovation strategies, the participating banks plan to improve their digital offerings and the overall client experience.

“We selected Avaloq for this project based on its proven track record in core banking, sustained investment in research and development, and its Swiss roots,”

said Manuel Niederkofler, Head of IT at Thurgauer Kantonalbank.

Christian Haux, Managing Director for Switzerland and Liechtenstein at Avaloq, said:

“With rising expectations for intuitive digital services and self-service, mobile banking has become a clear priority for financial institutions, and we are committed to ensuring that our clients can offer a modern, user-friendly mobile banking experience.”

Featured image credit: Edited by Fintech News Switzerland, based on image by tahantanha10 via Magnific