Overview
HCLTech's Avaloq Business Unit is a powerhouse of innovation, offering wide technology solutions and services to the financial services industry. With over 175+ certified professionals, the business unit has the expertise to deliver exceptional client outcomes. Our portfolio of innovative productized solutions is designed to meet the evolving needs of the financial services industry. Our recent acquisition of Confinale, a Switzerland-based company, has allowed us to offer end-to-end digital transformation support for wealth management firms.
With a commitment to excellence and innovation, we deliver the best technology solutions to help our clients succeed.
- Second largest and the fastest growing pool of Avaloq Certified professionals
- Lifecycle management center for Avaloq clients
- Award-winning Avaloq implementation partner
- Innovative productized solutions
HCLTech acquires Digital Banking and Wealth Management specialist Confinale
Founded in 2012, Confinale focuses on IT consulting in key specialist areas in the banking and wealth management sector including wealth advisory, tax, compliance, regulatory reporting, credit business and integration solutions. Confinale has one of the largest independent pools of Avaloq-certified specialists in Europe and its in-house developed products and solutions accelerate the implementation of the Avaloq platform. Confinale is one of only four companies to be awarded the title of Avaloq Premium Implementation Partner. With offices in Switzerland including Zurich, Zug and Geneva; as well as Düsseldorf and London, Confinale works with a host of leading banks and wealth advisors.
This acquisition and associated IP support our strategy to create specialized vertical domain capabilities and position the company as a leader in end-to-end implementation and lifecycle management of the Avaloq platform. This builds upon our expanded global partnership with Avaloq and the acquisition of German IT consulting company gbs in December 2021.
Services
As a Premium Implementation Partner, we serve all core banking operations and set the standard in the Avaloq Community in the 5 areas of Wealth Advisory, Tax, Compliance, Regulatory Reporting and Credit Business.
- Experience Transformation
- UX Transformation
- New Implementations
- Lifecycle Management Services (Evergreening Factories)
- Maintenance Factory
- Enhancement Factory
- Release & Upgrade Factory
- Migration and Journey to Cloud
- Test Management Factory (including Accessibility Testing & Certification and Accessibility Engineering)
- Product and Accelerators
- Product Engineering for Avaloq products
- Productized Solutions for Avaloq
- IPs/ Accelerators
- API integration – CAPI
- Managed services offerings: Run the bank, legacy management
- Digital business offerings: UX transformation, innovation lab, CTB services, APIs, journey to cloud
- Digital foundation offerings: Digital workplace, hybrid cloud management, CyberSec
- Digital operations services
- HCLTech software products to drive DevSecOps implementation
- Edtech services to help clients in their workforce re-skilling journey
Products and Accelerators
We offer FinTech and RegTech products that demonstrate our deep expertise in the following business areas of the banking sector: Wealth Advisory, Tax, and Compliance.
Compliance Client View (CCV) is the solution for the digitalization and standardisation of client analyses. The relevant data is prepared, visualised and can be refined with filter functions if required.
Through targeted automation, aSpark massively increases the scalability of the active and personalized distribution of investment content.
Enables banks and service providers to efficiently manage withholding tax reclaims and relief for their customers and themselves on end-to-end basis.
Greatly simplifies the transfer of the information into the tax return. Depending on the requirements of the country of residence, the tax statements can be prepared annually and/or monthly. Available on customer request, ad hoc at the push of a button.
Standard for reporting to money laundering reporting offices that rely on goAML. Focused on achieving the maximum possible degree of automation and a user-friendly and clearly structured user interface.
Enables financial institutions to prepare and transmit the required information in a timely, compliant and efficient manner. The web-based product can be easily integrated into existing banking systems.
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Resources, Insight and News
HCL expands partnership with Avaloq to launch a lifecycle management center, driving digital wealth innovation through AI, automation, and specialized training for financial services
HCL Technologies acquires Confinale AG, enhancing its digital wealth management and Avaloq expertise, expanding its presence in global investment banking and wealth management.
HCL and apoBank partner with Atruvia to acquire gbs, boosting digital transformation in Germany’s financial services sector.
Explore how forward-thinking wealth management firms are using chatbots to deliver an outstanding client experience.
Accolades
Frequently Asked Questions about HCLTech's Avaloq Business Unit
At HCLTech, we have over 175 Avaloq-certified professionals, making us the second-largest and fastest-growing pool of Avaloq-certified talent globally. Our team’s depth of experience means we can support clients with complex Avaloq digital wealth management projects from strategy through implementation and ongoing lifecycle management.
We acquired Confinale to deepen our expertise in Avaloq digital wealth management and enhance our end-to-end capabilities across wealth advisory, tax, compliance and regulatory reporting. Confinale’s strong Avaloq-certified team and innovative solutions accelerate value for our clients, positioning us as a leader in Avaloq lifecycle management and digital banking transformation.
Absolutely. We offer comprehensive support for Avaloq cloud migration, guiding clients through every phase—from strategic planning and migration to ongoing management. Our expertise ensures seamless transitions, optimized performance and enhanced security for clients modernizing their Avaloq digital wealth management platforms.
Reclaimer simplifies and automates the management of withholding tax reclaims and relief for banks and their clients. Our solution handles the end-to-end process, reducing manual effort and compliance risk and enabling banks to efficiently maximize tax recovery within their Avaloq core banking operations.
Confinale operates from strategic financial hubs in Zurich, Zug, Geneva, Düsseldorf and London. These locations allow us to support leading banks and wealth managers across Europe with localized expertise and close collaboration on Avaloq digital wealthtech projects.
Yes, HCLTech is proud to be an Avaloq Premium Implementation Partner, a distinction earned by only four organizations worldwide. This recognition reflects our proven track record in delivering successful Avaloq core banking operations and complex digital wealth management transformations for leading financial institutions.
Confinale covers key Avaloq service areas, including wealth advisory, tax, compliance, regulatory reporting and credit business. Their specialized focus and productized solutions help clients streamline financial services operations and achieve faster, more efficient Avaloq core banking implementations and lifecycle management.
aSpark is our accelerator for wealth management, designed to automate, personalize and scale the delivery of investment content. By streamlining processes, aSpark empowers financial institutions to deliver tailored, timely advice and insights, driving greater engagement and efficiency in Avaloq digital wealth management operations.
Compliance Client View (CCV) is our digital tool that standardizes and streamlines compliance analysis for banks. By visualizing key client data and providing intuitive filters, CCV enables compliance teams to quickly identify irregularities and make informed decisions, strengthening risk management across Avaloq wealth management platforms.
Confinale has been recognized as Avaloq Implementation Partner of the Year in both 2020 and 2021. These awards underscore our excellence in delivering innovative, high-impact Avaloq lifecycle management solutions and our commitment to client success in digital wealth management transformation.