Digital banking technology provider Avaloq is at a crossroads, Reuters reports. The Swiss company is preparing to sell or go public.

The decision comes as Avaloq’s private equity shareholder Warburg Pincus, which owns a 45% stake in Avaloq, seeks an exit. Other shareholders in the company include founder Francisco Fernandez, who owns 28%, as well as Avaloq staff and management, which hold 27% ownership.

If recent exit trends persist, Avaloq will take the acquisition route, likely being picked up by a wealth management firm, large bank, or a larger competitor, such as Temenos, which is much more of a heavyweight in the industry. “I always said I would never do an IPO before getting to a critical size or maturity needed for such a step. I said roughly 1 billion in revenues,” Fernandez said in a Reuters report in 2017. “Counting back, we think that in three to four years we should be there.”

No matter which route Avaloq takes, it will likely be placed among fintech unicorns. The company was valued at $1 billion in 2017 when it initiated the agreement with Warburg Pincus.

Avaloq most recently demoed at FinovateAsia last year where it showcased its ecosystem that serves as an app store for banks using open APIs. The company launched in 1985 as BZ Informatik and has since grown its offerings to include core banking software, digital wealth management, as well as core banking SaaS and BPaaS products.

Avaloq, which has raised $350 million in funding, provides technology that helps its 150 clients manage $4.5 trillion. Among the company’s clients are Barclays, BBVA, Deutsche Bank, HSBC, Rothschild, Societe Generale, and Vontobel.