The latest technology news from fintechs, banks and other organisations.

Avaloq, Google Cloud
Avaloq, the Swiss digital banking solutions firm which is being acquired by Japan’s NEC, has announced a strategic pact with Google Cloud so that firms such as banks can use Avaloq’s services on the US tech firm’s cloud.

The Zurich-based firm said that bringing the Avaloq Banking Suite to Google Cloud makes it easier for clients to put Avaloq applications into use rapidly.

“With Google Cloud’s global presence, as well as Avaloq’s Sensitive Data Segregation services, Google Cloud and Avaloq will also enable customers to store their data close to home, helping banks adhere to local data residency requirements,” Avaloq said in a statement yesterday.

“The financial services industry is undergoing rapid shifts, as banks seek to deliver strong, digital-first experiences to customers,” Avanish Sahai, vice president, partnerships at Google Cloud, said.

Thomas Beck, group chief technology officer at Avaloq, said: “Many businesses are accelerating their digital transformation due to the global COVID-19 pandemic. That includes financial services institutions, which are increasingly seeking to use critical IT infrastructure and platforms in a cloud-based environment.”