HCL Technologies to Acquire Digital Banking and Wealth Management Specialist Confinale
HCL Technologies UK Limited, a wholly owned subsidiary of HCL Technologies (HCL), a leading global technology company, has signed a definitive agreement for the acquisition of Confinale AG, a Switzerland-based digital banking and wealth management consulting specialist and Avaloq Premium Implementation Partner. Through this strategic acquisition, HCL will increase its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation and management capabilities.
Founded in 2012, Confinale focuses on IT consulting in key specialist areas in the banking and wealth management sector. 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.
The intellectual properties that are a part of this acquisition support HCL’s strategy to create specialized vertical domain capabilities and positions the company as a leader in end-to-end implementation and lifecycle management of the Avaloq platform. This builds upon HCL’s recently expanded global partnership with Avaloq and its acquisition of German IT consulting company gbs in association with apoBank in December 2021.
“Becoming part of HCL is an exciting new chapter for Confinale,” said Roland Staub, CEO, Confinale. “We strongly believe in the need for banking expertise combined with software competence and HCL is the perfect fit for this. It is a truly global player with strong heritage in the financial services sector. HCL’s reach will enable us to further our growth and at the same time expose our team to new learning and innovation opportunities.”
“There is significant disruption taking place in global wealth management and this means an opportunity for technology-led innovation,” said Rahul Singh, President of Financial Services and Digital Process Operations, HCL Technologies. “This acquisition significantly strengthens HCL’s digital wealth and asset management capabilities and expands our presence in the heart of the global investment banking sector. We welcome the team from Confinale and look forward to continuing to drive digital banking innovation alongside Avaloq.”
“At Avaloq we welcome the coming together of two of our key strategic partners,” said Martin Greweldinger, Co-Chief Executive Officer, Avaloq. “Both HCL and Confinale have considerable domain knowledge in financial services and deep understanding of our technology. We see the combination as immensely beneficial as Confinale has strong implementation credentials, including being awarded as best implementation partner in 2020 and 2021. We believe that this coming together will help accelerate digital wealth transformation for our clients and in turn increase the pace of adoption of Avaloq’s products and services globally.”
The acquisition is subject to customary closing conditions, which is expected to be completed in due course.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220509005383/en/
Contact information
HCL Technologies
Meenakshi Benjwal, Americas
meenakshi.benjwal@hcl.com
Elka Ghudial, EMEA
elka.ghudial@hcl.com
Devneeta Pahuja, India and APAC
devneeta.p@hcl.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IO Interactive Announces Olivier Perbet as Chief Marketing and Revenue Officer2.7.2025 16:00:00 EEST | Press release
IO Interactive, the award-winning developer and publisher behind the globally-acclaimed HITMAN franchise, is proud to announce the promotion of Olivier Perbet to Chief Marketing and Revenue Officer (CMRO). In this expanded role, Olivier will now oversee both marketing and revenue operations across the studio’s portfolio, including Digital and Physical Sales, Business Development, and go-to-market strategy, as IOI enters an exciting new chapter of growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702593970/en/ © IO Interactive A/S Olivier joined IO Interactive as Chief Marketing Officer in 2023, bringing with him over 20 years of experience across gaming, consumer electronics, and entertainment. Since then, he has played a key role in scaling IOI’s global publishing capabilities, supporting the set-up of IOI Partners and delivering standout campaigns. Under Olivier’s leadership, IOI recently celebrated major milestone
Seoul Semiconductor’s World’s No.1 Technology Targets EV and Autonomous Vehicle Markets2.7.2025 16:00:00 EEST | Press release
Seoul Semiconductor Co., Ltd. (KOSDAQ: 046890), the world’s No. 1 company in LED backlight, announced on July 2nd that its proprietary No-wire technology, WICOP, has been supplied to the automotive market in the form of Mini LED displays since May. As the world’s first No-wire LED technology, WICOP has already proven its performance across various applications—including smartphones, TVs, lighting, and automotive headlamps. Recognized for its superior brightness and durability even in extreme automotive environments, WICOP has now officially entered the automotive display market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702244031/en/ [Figure] Comparison of 1st-Generation LED and 2nd-Generation ‘WICOP’ Structure (Image: Seoul Semiconductor) The No-wire WICOP technology applied to Mini LED enables ultra-slim display designs, making it ideal for full array local dimming. This allows for deeper contrast and higher bright
Barilla Launches 7th Edition of Good Food Makers to Shape the Future of Food2.7.2025 15:20:00 EEST | Press release
Barilla officially opens applications for Good Food Makers 2025, its open innovation program dedicated to startups and innovative companies focused on creating a more sustainable and connected food system. Now in its seventh edition, the program welcomes a new format — Good Food Makers – ECOSYSTEM — developed in collaboration with Almacube, the innovation hub of the University of Bologna and Confindustria Emilia. This year’s goal is to build a true innovation ecosystem by involving Barilla’s value chain partners and accelerating the adoption of emerging technologies. Three selected startups will join a four-week co-development journey with Barilla professionals and partner companies, working side-by-side to create impactful solutions across the entire food chain — from field to fork. Applications are open until the end of July, with the program running from September to January 2026, concluding with the Innovation Day. “Good Food Makers reflects our commitment to open innovation that g
SE Labs Award Reinforces NetApp Status as the Most Secure Storage on the Planet2.7.2025 15:00:00 EEST | Press release
NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced that it was recognized as a standout performer in cybersecurity in the SE LABS ® Awards 2025. NetApp won the 2025 SE Labs Award for Enterprise Data Protection, validating NetApp’s status as the most secure storage on the planet. This recognition as a winner of a 2025 SE Labs Award is a result of NetApp’s exceptional innovation in cyber resiliency to deliver NetApp ONTAP® Autonomous Ransomware Protection with Artificial Intelligence (ARP/AI), which was tested and validated by SE Labs. NetApp ARP/AI demonstrated 99 percent detection of tested, advanced full-file encryption ransomware attacks with zero false positives, indicating a strong ability to operate in a business context without contributing to alert fatigue. “Great security doesn’t just happen—it’s built, tested and proven,” says Simon Edwards, Founder and CEO of SE Labs. “Behind every high performing security product is a team committed to excel
CroíValve Announces Funding from Horizon Europe EIC Accelerator2.7.2025 15:00:00 EEST | Press release
CroíValve, a pioneering medical device company innovating a better way to help more patients suffering from Tricuspid Regurgitation (TR), was awarded funding from Horizon Europe’s European Innovation Council (EIC) Accelerator Programme. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702306192/en/ DUO™ Transcatheter Tricuspid System Part of the EU’s Horizon Europe 2021-2027 Research and Innovation Programme, the EIC Accelerator Programme provides transformational funding to high-potential, high-risk start-ups, scale-ups and subject matter experts. This award includes grant funding of €2.5 million, combined with an equity investment of €10 million in CroiValve’s next financing. The latest competition included 959 applications, with only 40 awards across 16 countries. Almost one third of the selected companies are led by a woman and CroiValve are incredibly proud to be one of this group. “Securing European Innovation Council
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom