Avaloq strengthens R&D presence

Published: 29 October 2018

Swiss fintech firm Avaloq recently announced a new recruitment drive in Edinburgh. We spoke to Mark Doherty, Avaloq’s managing director and development centre head.

Your business in brief?

Avaloq is headquartered in Switzerland, with more than 2,000 staff spread across Europe, Asia and Australia. The Edinburgh R&D centre opened in 2012, and develops software for the digital transformation and automation of the financial services industry.

Edinburgh opened up a rich seam of IT talent and financial services expertise to us, and Scotland’s growing fintech ecosystem is something we're keen to seed and participate in.

Mark Doherty, managing director and development centre head, Avaloq

 

We have more than 150 clients using our products and services to handle more than £3,000bn in assets.

Based on our fully integrated banking software, we offer a standardised Business Process as a Service (BPaaS) or Software as a Service (SaaS) model to our clients. Our solutions give financial institutions the freedom to focus on their own innovation and growth, while we ensure a seamless operation behind the scenes.

What presence do you already have here? What new jobs or roles will be created? What's driving your expansion?

In Edinburgh, our R&D teams focus on a broad range of topics including digital banking, payments, credit and lending, wealth management, and the internationalisation of our software in areas like taxes, for example.

One of our largest teams of experts focuses on the tools and frameworks that underpin how Avaloq developers create new solutions based on open programming interfaces.

Our base here in Edinburgh has already attracted some of the brightest talent in the world. This lets us innovate at the pace needed for our UK and international expansion: we’re transforming technological foundations here, and this needs investment in new knowledge and understanding.

We’re passionate about shaping the financial industry. Eventually we are also making a difference to people’s lives. Many projects related to financial regulations are to protect consumers and businesses, for example, improving the availability of credit and access to innovative new services.

Avaloq is a founding partner of FinTech Scotland, a newly-established company tasked with promoting Scotland as a global fintech hub.

What makes Edinburgh an attractive market for you?

The UK is an obvious strategic location for global fintechs, and Edinburgh plays a central role in underpinning our access to incredible talent.

Edinburgh opened up a rich seam of IT talent and financial services expertise to us, and Scotland’s growing fintech ecosystem is something we're keen to seed and participate in. 

Edinburgh gives us all of this, plus an easy tram to the airport is a great convenience for visiting the greater community of colleagues and clients.

What's the vision for your business in Edinburgh / Scotland?

We’re hiring staff in Edinburgh to help us build new ways to view, manage and secure financial data.

Avaloq actively researches new technologies in the wider IT world – things like cloud services, digital assistants, even virtual reality – and we look for ways to apply these new technologies to support our vision of the financial future.

As Avaloq grows, we are planning to partner with organisations and institutions in Edinburgh, Scotland and the UK – companies that share our focus on security, reliability and user experience.

 

If you would like to find out more about how we can help you and your business establish, relocate or expand within the city region, or would simply like more information about what Edinburgh has to offer, get in touch today.

E: invest@edinburgh.gov.uk

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E: invest@edinburgh.gov.uk

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