Avaloq and Synpulse Sign License Reseller Agreement
Avaloq and Synpulse have finalised a license reseller agreement to provide end-to-end digital solutions for private banks and wealth managers in Asia - with an initial focus on Indonesia.
Avaloq, an international leader in digital banking solutions, and Synpulse, a global professional services consulting and tech company and Premium Avaloq Implementation Partner, are expanding their 23-year partnership through a license reseller agreement with a focus initially on the Indonesian market.
As an Avaloq license reseller, Synpulse can offer end-to-end private banking (PB) and wealth management (WM) solutions based on the Avaloq software offerings, from licensing and implementation to ongoing support, and help drive digital transformation.
Avaloq and Synpulse’s partnership will accelerate their expansion in Asia’s growth markets with a primary focus on financial institutions that serve (mass) affluent to ultra-high-net-worth (UHNW) clients, as well as firms looking to expand into the PB and WM space.
“Our new reseller agreement with Synpulse for the Indonesian market will offer even greater flexibility in rolling out Avaloq’s core banking technology as we continue our market expansion in Asia. This is also an exciting step in our decades-long partnership with one of our key implementation partners. I look forward to continuing to work closely with Synpulse to digitally transform the region’s private banking and wealth management sector and to foster further innovation,” said Gery Dachlan, Managing Director South Asia and Australia at Avaloq.
“Our vision is to continue to be a trusted Avaloq implementation partner and take our long-standing partnership forward by investing in Avaloq licenses to offer in Asia’s growing markets. With the pioneer client already secured in Indonesia for this agreement, we expect this partnership to generate up to USD 100M in revenues and aim to double our Avaloq talent footprint globally within the next three years,” said Yash Shah, Associate Partner and Avaloq Head, APAC at Synpulse.
Both partners are taking advantage of the opportunities arising from the increasing adoption of technology and analytics in private banking and wealth management in Asia – particularly in growth markets – with new offerings, productisation, and industrialisation of operational efficiency improvements. In addition, Synpulse is aiming to spur further growth in new markets, targeting more recurring services, and expanding delivery capabilities in Slovakia, India, Philippines, and Vietnam.
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