Why the banks chose Avaloq’s platform
Four major Swiss cantonal banks – Basellandschaftliche Kantonalbank, Basler Kantonalbank, St. Galler Kantonalbank, and Thurgauer Kantonalbank – together with Bank Cler, have signed a multi‑year agreement with fintech firm Avaloq. The deal, announced this week, will upgrade mobile banking services for roughly one million Swiss customers. Implementation is slated to begin in the second quarter of 2026.
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All five institutions share a common goal: to deliver a consistent digital experience while preserving their regional identities. Avaloq’s modular architecture allows each bank to customize the interface for its local market, yet maintain a shared backend for efficiency. „We needed a solution that could scale across our combined client base without compromising the personal touch each cantonal bank offers,” said a spokesperson from Basellandschaftliche Kantonalbank. The provider’s reputation in wealth‑management technology also aligns with the banks’ strong emphasis on private banking services. By consolidating development costs, the consortium expects to reduce operational expenses by up to 15 percent over the next three years.
Will customers see immediate changes?
Clients can anticipate a phased rollout rather than an overnight switch. The first wave will introduce a refreshed login experience and enhanced security features, such as biometric authentication. Subsequent updates will add advanced budgeting tools, integrated investment dashboards, and faster cross‑border payments. „Our priority is a smooth transition,” explained a senior manager at Bank Cler. „We will run parallel systems during the migration to avoid service disruptions.” The banks have pledged transparent communication, promising regular updates through newsletters and in‑app notifications.
The agreement positions the Swiss cantonal banks to compete more aggressively with larger commercial banks and emerging fintech challengers. By leveraging Avaloq’s technology, they aim to retain existing clients and attract younger, digitally‑savvy users. The collaboration also signals confidence in home‑grown solutions, reinforcing Switzerland’s reputation as a hub for banking innovation. Over the next two years, the consortium will monitor usage metrics and customer satisfaction to fine‑tune the platform, potentially expanding the partnership to include additional services such as AI‑driven financial advice.
Frequently Asked Questions
What is the scope of Avaloq’s involvement? Avaloq will provide the core banking software, integration services, and ongoing support for the mobile app. It will not manage the banks’ day‑to‑day operations.
Will the new mobile app be free for customers? Yes. The banks have confirmed that the upgraded mobile banking experience will be offered at no additional cost to existing account holders.
How will data security be ensured? The platform incorporates end‑to‑end encryption, biometric login, and continuous monitoring to protect personal and financial data against cyber threats.
