HCL Technologies UK to acquire Confinale and Avaloq.

HCL Technologies UK, a technology company, agreed to acquire Confinale, a digital banking and wealth management consulting company, and Avaloq, a wealth management technology provider. Financial terms were not disclosed. “There is significant disruption taking place in global wealth management and this means an opportunity for technology-led innovation. 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,” Rahul Singh, HCL Technologies President of Financial Services and Digital Process Operations.