Our history in brief

Zurich, December 17th. Ulrich Jacobi founds the company under the name Aquin Financial (Schweiz) AG as a subsidiary of Aquin AG in Frankfurt. The German parent company is well known in the European market, offering both consulting and investment management software solutions such as MIG21, DVS, Mescor and RBK.

As forecasted the biggest part of the revenue is generated through IT consulting for Swiss banks. Already in the first operating year, 2 global players accredit large projects to this newly born company: the integration of MIG21, investment compliance solution, for the Luxembourgian branch of a leading Swiss financial services company and the development of a portfolio management tool for a Swiss reinsurer.

As the consulting unit establishes itself as a trusted service, the first productisation attempt is done: in order to manage distribution fees and retrocessions, the solution VPS (nowadays renamed to Quartal COMMISSION) is released and installed at a renowned Swiss private bank. A major milestone in the company history is the obtaining full independence from the German parent company.

Another flourishing year in the consulting business: the company embarks on a huge MIG21 installation project for a worldwide provider of financial services in their subsidiaries in London, Zurich and Luxembourg. Quartal COMMISSION is enhanced with a sales controlling functionality and installed at a key Swiss insurance company and at one of the top players in asset management in the German market.

Quartal COMMISSION strengthens its position in the market, winning new customers. Fully integrated with this product Quartal develops a Golden Source for a German asset management customer in order to gather fund data from different sources and distributing it to internal applications. Furthermore, diverse MIG21/DVS installations are carried out in Germany, France and Switzerland.

5 years after its foundation, with 20 employees, around 30 customers and a yearly revenue of CHF3.25 mio, the company opens a German subsidiary by acquiring the majority of Aquila Consulting GmbH’s shares. On the product side, the first version of STTP (nowadays known as Quartal FLOW), a content management and financial reporting tool, is released and installed at an exclusive Swiss private bank.  An additional milestone for the company was the first market data interface implementation for Bloomberg at a Swiss private bank.

Recognizing synergies in various areas, the company merges with the Finnish Quartal Financial Solutions Oy and becomes part of the Quartal Group, changing its name to Quartal Financial Solutions AG. Quartal FLOW is reengineered and installed at a distinguished German asset management company. Simultaneously, the prosperous consulting area carries out multiple projects for existing clients and wins a new MIG21 client: a Swiss leading provider of pension and life insurance products.

This year is hallmarked by accomplishments: Quartal FLOW breaks into the Nordic markets with a Finnish independent investment bank as customer, producing their factsheets with Web output in Finnish, Swedish, English and Russian. Quartal COMMISSION acquires 3 clients in the French speaking part of Switzerland. Moreover, due to the lack of an information and exchange platform for IT and Operations in the fund industry, Quartal decides to organize the first Swiss Fund Day, event which is now carried out yearly and of increasing popularity.

A year filled with achievements: the Luxembourg branch is opened and the company is newly structured in 3 Business Lines - Quartal COMMISSION, Quartal FLOW and Quartal CONSULTING. Meanwhile Quartal COMMISSION penetrates new markets with customers in Liechtenstein, Luxembourg and Ireland. This is also a remarkable year for Quartal FLOW: its version 3.0 brings a major upgrade and a re-design of the system, to fulfill the ever growing needs of a dynamic market and becomes a state-of-the-art reporting tool. Recognizing the market demand for a fee invoicing and revenue management solution, Quartal FEE MANAGER is developed, winning Europe's leading fund and institutional portfolio administrators in Luxembourg as its first client.

A highly successful year for Quartal COMMISSION: a fully reengineered release 5.0 with new technology and 10 new customers - among them, 2 new large players in Liechtenstein (wealth and asset management group) and the Singaporean subsidiary of a leading Swiss financial services company.  This year Quartal FEE MANAGER wins its 2nd customer, one of the top players in asset management in Germany.

Despite the challenging economical scenario, Quartal overcomes the crisis with new 3 new customers: the largest foreign Bank in Ireland, Denmark's leading independent asset management company and the global purchase agreement with one of the world's top financial institutions. Remaining profitable, a new subsidiary in France is established to better penetrate the local market. The nomination of Thierry Zuppinger as the new CEO aligns with objectives of a new era in the company: new ideas, dynamism, further development and wider horizons. Our team looks forward to the many years of continuous success!