Teconomic AG
Software AG expands in Switzerland with the acquisition of Teconomic AG
- Teconomic provides comprehensive IT consulting services and solutions to the European financial sector
- Teconomic currently provides IT services to 7 of the top 10 Swiss financial institutions
- The combination of the two companies’ software and services will make Software AG a major player in the SWIFT solutions market
- Software solutions will play a major role in redesigning global finance
Based in Freienbach, near Zürich, Teconomic currently provides comprehensive IT consulting services and solutions to the European financial sector focusing on SWIFT Services. Teconomic currently provides services to seven of Switzerland’s top ten financial institutions including UBS AG, Credit Suisse and Zurich Financial Services.
The financial services sector is traditionally Software AG’s largest market, specifically for the optimization and integration of business processes on the basis of SOA. Through the acquisition of Teconomic, Software AG plans to strengthen its position in the global SWIFT market and expand business activities in Switzerland. Financial institutions are facing many challenges today and a flexible and adaptable IT infrastructure will make it easier to implement and comply with differing new industry regulations.
Founded in 2002 by CEO, Rudolf Gunz, Teconomic AG is a certified SWIFTReady Services and Software Partner providing IT consulting services and solutions to the European financial sector. Its team of IT consultants has over 100 man-years experience in the banking sector.
The financial services sector is also Software AG’s largest vertical industry. The merger of Teconomic’s industry expertise and Software AG’s international presence and business process technology will enable financial institutions to address the three major challenges facing the industry: multiple national regulatory changes, continued market consolidation and improved risk management.
“Financial institutions are facing the contradictory challenges of providing greater transparency, compliance with new regulation, implementing an accelerated M&A process and dealing with the cost cutting financial pressures of a challenging global economy”, said Rudolf Gunz, CEO of Teconomic. “Our combined software and services will play a major role in helping the finance sector adapt to these economic changes quickly and economically and in implementing regulatory compliance in particular.”
For further information please contact:
Teconomic AG, a Software AG Company
Strandweg 2
8807 Freienbach
Switzerland
Phone +41 44 434 28 00
Fax +41 44 434 28 99
rudolf.gunz@teconomic.ch
References
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