The new office is part of the group’s plans to make its offerings available to all the world's major financial centres, the firm said in a statement. Avaloq, which recently opened branch offices in Luxembourg and the UK, will also manage its Monaco and North Africa projects from France.

Avaloq is aiming to provide the French banking market with systems to meet the challenges of structural and regulatory change, in light of new sets of rules such as Basel III and SEPA, as well as “the evolution of customer service requirements” for example mobile banking and multi-channel banking.

"Projects with French branches of international banks as well as projects in Monaco are being implemented already from the new subsidiary in Paris. BSI Monaco, for instance, installed Avaloq's integrated banking solution at the beginning of the year. We are also planning to establish suitable partnerships with consulting firms and French implementation partners so as to meet the specific requirements of the French market," said Tecla Solari, the newly-appointed managing director of the French office who previously held several other positions at Avaloq.

Aside from Switzerland, Avaloq has offices in Paris, London, Luxembourg, Frankfurt, Vienna, Moscow, Singapore and Hong Kong.