Technology Holdings is pleased to announce that it has acted as the exclusive financial advisor to Confinale on its strategic sale to HCL Technologies. Headquartered in Switzerland, with a presence in Germany and the United Kingdom, Confinale is one of only four Avaloq Premium Implementation partners globally, specializing in digital banking and wealth management IT solutions. Confinale has also developed a market-leading suite of proprietary products and solutions to complement banking services and accelerate digital transformation across core business areas, increasing automation and efficiency in the banking industry.
Founded in 2012, Confinale provides business and IT consulting to the digital banking and wealth management sector - covering IT architecture, interface integration, process modelling, application development and its proprietary products and IP. With the acquisition of Confinale, HCL Technologies expands its footprint in the global banking and wealth management market with an emphasis on Avaloq consulting, implementation and management capabilities. Confinale’s intellectual properties provide impetus to HCL’s strategy to create specialized vertical domain capabilities and position HCL as a leader in the end-to-end implementation and lifecycle management of the Avaloq platform.
Roland Staub, CEO of Confinale said "Becoming part of HCL is an exciting new chapter for Confinale. We strongly believe in the need for banking expertise, combined with software competence and HCL is the perfect fit for this. HCL is a truly global player with strong heritage in the financial services sector - their reach will enable us to accelerate our growth and expose our team to new learning and innovation opportunities."
Rahul Singh, President of Financial Services and Digital Process Operations of HCL Technologies said “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.”
Vivek Subramanyam, Founder and CEO of Technology Holdings said “We are proud to have advised Confinale on this landmark digital banking, wealth management IT and fintech transaction. This transaction is our 26th deal in the Banking, Financial Services & Insurance IT and Fintech ecosystem, and further demonstrates our expertise as the industry leader in the space. Confinale’s capabilities and team are exceptional and we wish them every success in this strategic transaction with HCL Technologies.”
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