Technology
SYZ Transfer To Lombard Odier Platform By Year-End

The Geneva-based private bank had previously used a system powered by Avaloq.
Geneva-based SYZ is due to
migrate to the Lombard Odier banking
platform at the end of this year, this publication understands,
having decided not to continue using the system powered by fellow
Swiss business Avaloq.
SYZ had used Avaloq since 2015.
WealthBriefing now understands that the move will take
place by the end of 2018.
The decision means that Lombard Odier, also based in Geneva,
has secured another win for its G2 banking platform, which hosts
other banks, family offices and various financial institutions.
The G2 platform has become something of a selling-point
differentiator for the firm.
A spokesperson for Avaloq said SYZ had been a client for three
years but could not comment on SYZ's decision to
change. Lombard Odier declined to comment; a SYZ
spokesperson said that the private bank had been considering
making the change for several months.
The SYZ group is one of Switzerland’s younger players, having
been launched in 1996. In its 2017 results, published earlier
this year, the bank said that group operating costs, which
totalled SFr193 million ($194 million) at the end of 2017, rose
slightly compared with the SFr189 million reported for the 2016
financial year. Consolidated operating income fell by 1 per cent
to SFr215 million.
As
reported here recently, Avaloq has set up a venture capital
fund to support fintech start-ups.