HCL UK to buy Swiss digital banking business

HCL Technologies UK has announced it is buying Switzerland-based digital banking and wealth management consulting business Confinale.

The tech company said the move is part of plans to expand its footprint in the global wealth management market.

Confinale, which was established in 2012, focuses on IT consulting in key specialist areas in the banking and wealth management sector. According to HCL, Confinale has one of the largest independent pools of Avaloq-certified specialists in Europe.

“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.”

    Share Story:

Recent Stories


New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.