What Forty2 AG does

Forty2 AG is a privately held Swiss technology consulting firm founded in 2017 and headquartered in Cham (Zug), Switzerland, that delivers digital transformation and IT services for financial institutions, with primary specialization in Avaloq core banking platform implementation. The company operates from seven offices in Switzerland (Cham, Geneva), Luxembourg (Wecker), Portugal (Lisbon), Spain (Madrid), Germany (Düsseldorf), Singapore and the Philippines, employing 100+ consultants of whom over 60% are at senior level and over 50 hold Avaloq certification. Its service catalog spans Core Banking Transformation, Digital Transformation for Insurance, AI Solutions, AI Automations, Process Mining, Business Analysis, Business Process Management, Cloud Migration, DevOps and Project Management, supplemented by partner-led practices for Avaloq, IBM watsonx, Flowable, Appway (client lifecycle management) and Red Hat OpenShift. Notable proprietary assets include a four-stage Avaloq delivery methodology (Assess, Design, Implement, Optimize) and the Yarowa insurance digital contract management platform built with LLM-driven AI agents on cloud-native microservices.

The firm generates revenue through professional services engagements delivered by senior consultants, typically structured as time-and-materials or fixed-price multi-year contracts, plus a Development-as-a-Service (DaaS) offering from Portugal and a flexible pay-by-use consulting pool. Customer concentration is centered on private banks and wealth managers across Switzerland, Luxembourg, the UK and the EU, with over 30 banks served and 60+ projects delivered, alongside insurance clients via the Yarowa platform and a banking software editor in Zürich. Distribution combines senior-consultant-led direct enterprise sales with co-sell through Avaloq (150+ financial institution ecosystem), IBM, Red Hat and Flowable partner channels, supported by event-led demand generation (Avaloq Community Conference, IBM co-hosted workshops, university career fairs). The company is founder-led by Milad Gharib, with no disclosed external funding rounds, indicating growth has been self-funded to date.

Strategic posture is one of platform specialization rather than breadth: 100% of consultants are positioned as Avaloq specialists rather than generalists, technology partnerships are concentrated in regulated-finance-relevant stacks (Avaloq, IBM watsonx, Flowable BPMN/CMMN/DMN, Red Hat OpenShift, Appway), and the most recent strategic moves have been partner-tier promotions (official Avaloq Implementation Partner status in 2025, IBM Silver in 2024) alongside geographic expansion into Asia-Pacific (Singapore, 2024) and additional European and offshore delivery capacity (Spain and Philippines, 2025). The implication for a PE/VC/M&A audience is that the company occupies a defensible niche as a senior-heavy Avaloq implementation partner with bundled AI/BPM capability, but its scale (sub-150 consultants, $25M-$50M estimated revenue band) and unannounced capital structure limit both M&A optionality and the speed at which it can extend into insurance and AI-native offerings.

Name

Forty2 AG

Legal name

Forty2 AG

Website

https://forty2.ch

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Forty2 AG is a Swiss IT consulting firm that delivers digital transformation services for financial institutions, specializing in Avaloq core banking implementation, AI and automation, cloud migration, DevOps and insurance BPM transformation across offices in Europe and Asia-Pacific.

Ownership category

akta.pro rank

Product category

Financial Services IT Consulting

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Services-Management Consulting Services (8742), Services-Computer Programming Services (7371)

akta.pro primary industry

Enterprise Architecture & IT Operating Model (BPAHAEAB)

akta.pro secondary industry

Enterprise Application Reporting, BI & Analytics Enablement (BPAEAGAK)

Keywords

• Core banking consulting
• Avaloq implementation
• Banking digital transformation
• Wealth management IT services
• Insurance process automation

Headquarters

HQ city

Cham

HQ country

Switzerland

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. IT Consulting & Professional Services: Forty2 provides senior consultants (with over 60% seniority) on a project basis to financial institutions. Services include Avaloq implementation, core banking transformation, AI solutions, cloud migration, DevOps, business analysis, and project management. Revenue is generated through consultancy fees, typically structured as time-and-materials or dedicated team arrangements. The company also offers a 'pay-by-use' contract model providing a pool of talented consultants for ad-hoc or short-term needs.
2. Development as a Service (DaaS): Forty2 Portugal delivers dedicated development teams that integrate into client organizations, providing technology expertise (.NET, Java, Avaloq, AI Solutions, Data Management, Business Process Automation) on flexible terms — short-term support or long-term partnerships — serving global clients from Lisbon.
3. Avaloq Implementation Partnership: As an official Avaloq Implementation Partner, Forty2 provides specialized implementation, integration, upgrade, and optimization services for the Avaloq banking platform, generating revenue through consulting engagements with private banks and wealth managers.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Forty2 AG is an IT consulting firm that provides senior consultants to financial institutions for core banking transformation, Avaloq platform implementation, AI/data solutions, cloud migration, DevOps, and project management. The company delivers multi-month consulting engagements (typically 1000+ man days) using Avaloq, IBM watsonx, Flowable, and Red Hat OpenShift technology stacks, plus a Development as a Service (DaaS) model via its Portuguese business unit.

Product overview

Forty2 AG is a Swiss technology consulting company offering a portfolio of professional services rather than a unified software product. The core offering consists of consulting services organized into four main categories: Financial Services (Core Banking Transformation, Digital Transformation for Insurance), AI Solutions (AI Solutions, AI Automations, Process Mining), Business Solutions (Business Analysis, Business Process Management), and Development (Cloud Migration, DevOps, Project Management). These services are supplemented by specialized partner practices including Avaloq Consulting Services (for Avaloq banking platform implementation), IBM watsonx AI Solutions (for AI-ready data foundations), and Flowable BPM Solutions (for process orchestration). The company operates across multiple global offices including Switzerland, Luxembourg, Portugal, Spain, Germany, Singapore, and the Philippines, with over 85 consultants serving financial institutions worldwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Core Banking Transformation Specialized consulting for core banking integration, modernization, and optimization targeting private banks and wealth managers. Services cover E-Banking, client and investment management, securities custody, treasury and cash transactions, finance and regulatory reporting, compliance and enterprise risk, credit and credit risk, API development, data migration, and testing and QA.
• Digital Transformation for Insurance BPM-driven orchestration, decision automation, and API-based integration for insurance operations. Modernizes policy administration, claims handling, underwriting, and compliance processes without disrupting legacy platforms, using Flowable and IBM watsonx.
• AI Solutions Analytics, automation, and artificial intelligence consulting for financial institutions. Emphasizes ethical AI practices, transparency, accountability, regulatory compliance, and continuous monitoring of AI performance.
• AI Automations Intelligent automation consulting for banking operations, including AI-powered fraud detection, customer service chatbots, credit scoring, risk management, and personalized marketing.
• Process Mining Data-driven consulting engagement that uncovers inefficiencies, bottlenecks, and automation opportunities by analyzing real process flows, delivering actionable insights for measurable improvements across industries.
• Business Analysis Consulting engagement that evaluates organizational needs, identifies improvement opportunities, and develops strategies to enhance efficiency. Includes process optimization, technology integration, strategic alignment, and data analytics.
• Business Process Management Systematic consulting engagement to analyze, design, execute, and monitor business processes for banks, eliminating redundancies, improving compliance, and enhancing agility.
• Cloud Migration Consulting for seamless system integration and cloud migration of banking operations, including strategic planning, cloud assessment, implementation, security, compliance, and ongoing support for cloud environments.
• DevOps Senior-led DevOps consulting engagement to streamline practices for banking transformation with over 60% senior expertise, accelerating delivery and improving reliability across financial IT projects.
• Project Management Certified project management consulting for complex banking programs, with expertise in Six Sigma, PMP, PRINCE2, Waterfall, Agile, and Lean methodologies, typically delivering over 1000 man days per project.
• Avaloq Consulting Services End-to-end Avaloq implementation, development, integration, and optimization services delivered as an official Avaloq Implementation Partner. Provides Avaloq-certified consultants for core banking configuration, parameterization, data migration, and system testing.
• IBM watsonx AI Solutions IBM Silver Partner consulting focused on AI-ready data foundations using IBM watsonx, including data integration, quality management, and governance frameworks for embedding AI across banking operations.
• Flowable BPM Solutions Process orchestration consulting built on Flowable using BPMN, CMMN, and DMN standards. Enables adaptable processes, transparency across automation, compliance confidence, and scalable governance for regulated organizations.
• Development as a Service (DaaS) Forty2 Portugal delivers dedicated development teams that integrate into client organizations, providing technology expertise (.NET, Java, Avaloq, AI solutions, data management, business process automation) on flexible short-term or long-term terms from Lisbon.

Quantifiable outcome

• Over 30 banks trust Forty2's core banking services
• +5 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability9 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and secondary.

• AvaloqcoreImplementation/ SI/ Consulting Partner · 1 January 2025Forty2 is an official Avaloq Implementation Partner, providing end-to-end Avaloq banking suite implementation, integration, upgrades, and optimization services for private banks and wealth managers. The partnership grants access to Avaloq's ecosystem of 150+ financial institutions. Forty2 provides Avaloq-certified consultants specializing exclusively in the Avaloq ecosystem — core banking modules, interfaces, scripting, and custom development. The relationship is mutual: Forty2 brings implementation capacity and specialist expertise to Avaloq clients, while Avaloq provides the platform, partner program, and client referrals.
• IBMcoreTechnology or Integration · 1 January 2024Forty2 is an IBM Silver Partner, specializing in IBM watsonx AI solutions for financial institutions. The partnership focuses on AI-ready data foundations — data integration, quality management, and governance frameworks — combined with watsonx implementation to embed AI across banking operations and client services. Forty2 participates in IBM co-marketing activities including AI workshops for financial services clients. IBM provides the Silver Partner program, technology platform, and go-to-market resources.
• Red Hat (OpenShift)secondaryTechnology or Integration · 1 January 2024Forty2 is a Red Hat (OpenShift) partner providing container platform solutions for banking cloud migration and modernization projects. Red Hat OpenShift supports the company's cloud-native delivery capabilities for financial services clients requiring enterprise-grade container orchestration.
• FlowablecoreTechnology or IntegrationForty2 is a Flowable partner, building process orchestration solutions for regulated organizations (finance, insurance) using Flowable's BPMN, CMMN, and DMN platform. The partnership enables Forty2 to deliver BPM-driven digital transformation for insurance and banking clients requiring governed, auditable process automation. Forty2 brings deep Flowable expertise and orchestration patterns; Flowable provides the technology platform.
• AppwaysecondaryTechnology or IntegrationForty2 has certified professionals in Appway, a digital banking platform for client lifecycle management. Appway specialists are part of Forty2's team delivering client onboarding, workflow automation, and digital banking solutions.

Scale indicators12 records

Recent moves13 records

Expansion highlights6 records

Broad incumbents

• Thoughtworks: Global technology consultancy with a strong financial-services practice spanning core modernization, cloud, and AI. Comparable delivery capability for digital transformation projects at scale.
• Tata Consultancy Services: Global system integrator with large-scale banking and financial-services delivery, including Avaloq-adjacent and core modernization work, competing primarily on scale and global delivery footprint.
• Temenos: Global core banking software vendor competing with Avaloq at the platform layer. Comparable as a digital transformation target for private banks and a source of competing consulting demand.
• Capgemini: Major IT services and consulting firm with deep European banking practice, including core banking modernization, cloud migration, and AI/automation work overlapping Forty2's offerings.
• Accenture: Global professional services incumbent with a large financial-services consulting arm covering core banking, Avaloq/Temenos implementations, and AI. Sets pricing benchmarks and competes for the largest transformation programs.

Direct peers

• msg global: Germany-headquartered IT consulting and software group with one of the largest Avaloq practices globally. Direct competitor for Avaloq implementation, core banking modernization, and insurance digital transformation work across DACH and beyond.
• Ergon Informatik: Zurich-based IT consultancy with deep financial-services expertise in core banking, payments, and secure software. Comparable Swiss boutique consulting model and target client base.
• ti&m: Swiss boutique IT consultancy focused on financial services digital transformation, including core banking, security and platform engineering. Closely comparable in size, Swiss heritage, and FS vertical depth.
• AdNovum: Swiss IT services firm with a strong banking and insurance digitalization practice, covering core banking, security, and custom software. Comparable Swiss boutique profile targeting the same private-bank and insurance clients.

Others

• Avaloq: Core banking platform provider and Forty2's primary strategic partner. Ecosystem enabler rather than competitor, but its partner program rules and roadmap directly shape Forty2's addressable market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/forty2-consulting

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Forty2 AG