Avaloq said the project will serve as a "blueprint" for stronger collaboration among Switzerland's cantonal banks.

Avaloq, a Switzerland-headquartered technology firm working with banks, wealth managers and other financial institutions, is partnering with a quarter of cantonal banks in the Alpine state. The financial terms of the deal were not disclosed.

The banks are Basellandschaftliche Kantonalbank, Basler Kantonalbank with Bank Cler AG, St Galler Kantonalbank AG and Thurgauer Kantonalbank. About one million clients are covered by this arrangement, Avaloq said in a statement last week.

Avaloq said the banks will migrate to its new mobile banking capabilities “through a phased approach.”

The new mobile app developed by Avaloq improves usability, performance and flexibility, while providing a stable foundation for future development, Avaloq said. The app includes trading and portfolio management, configurable dashboards, real-time notifications, Apple and Google Pay integration, credit card management and allows the banks to add features independently over time.

Avaloq said the project is also “intended to serve as a blueprint for stronger collaboration among cantonal banks.”

Avaloq is a subsidiary of NEC Corporation.