Avaloq and Synpulse have entered into a license resale agreement to provide end-to-end digital solutions for private banks and wealth managers in Asia.
SINGAPORE, September 7, 2022 /EINPresswire.com/ — Avaloq, a global leader in digital banking solutions, and Synpulse, a global professional services consulting and technology company and premium implementation partner for Avaloq, expand their 23-year partnership through a license resell agreement with an initial focus on Indonesian market. .
As an Avaloq License Reseller, Synpulse can offer end-to-end Private Banking (PB) and Wealth Management (WM) solutions based on Avaloq software offerings, from licensing and implementation to ongoing support, and help with digital transformation.
The Avaloq and Synpulse partnership will accelerate their expansion into emerging markets in Asia, focusing on financial institutions that cater to (mass) high net worth and ultra high value (UHNW) clients, as well as firms looking to enter PB and WM. space.
“Our new reseller agreement with Synpulse for the Indonesian market will provide even more flexibility in deploying Avaloq’s core banking technology as we continue to expand our market in Asia. It is also an important step in our longstanding partnership with one of our key implementation partners. I look forward to continuing to work closely with Synpulse to digitally transform the private banking and wealth management sector in the region, and to foster further innovation,” said Jerry Dahlan, Managing Director of Avaloq South Asia and Australia.
“Our vision is to continue to be a trusted Avaloq implementation partner and build on our long-standing partnership by investing in Avaloq licenses to offer in growing Asian markets. With a pioneering client already established in Indonesia through this agreement, we expect this partnership to generate up to $100 million in revenue and we aim to double our Avaloq talent pool globally over the next three years,” said Yash Shah, Associate Partner and head of Avaloq. APAC at Synpulse.
Both partners are capitalizing on opportunities arising from the increasing adoption of technology and analytics in private banking and wealth management in Asia, especially in emerging markets with new offerings, manufacturing and industrialization to improve operational efficiency. In addition, Synpulse aims to drive further growth in new markets by targeting more recurring services and expanding delivery options in Slovakia, India, the Philippines and Vietnam.