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Bank Sarasin rolls out the Avaloq Banking System in Singapore and Hong Kong

Effective 1 February 2011, Bank Sarasin & Co. Ltd successfully introduced the Avaloq Banking System to its Asia operations. Bank Sarasin introduced the Avaloq Banking System, the leading Swiss integrated banking software solution, in Switzerland in 2004, followed by Guernsey in 2007 and bank zweiplus ltd in Switzerland in 2008.

The roll-out of the Avaloq Banking System at the Singapore and Hong Kong locations is a further step for the Sarasin Group on its path to groupwide implementation. Joachim Straehle, CEO of Bank Sarasin: "The implementation of the Avaloq Banking System at our locations in Asia is a major investment that will optimize our global capabilities while maximizing cost efficiencies over the short and long term due to the further homogenisation of our IT landscape and internal processes. Our clients in Asia will benefit from broader, enhanced services since the Avaloq Banking System empowers Relationship Managers through its advanced integrated software."

In Hong Kong, Asia CEO Enid Yip said: “The introduction of the Avaloq Banking System in Asia is a major milestone in our regional expansion. This investment demonstrates our deep commitment to Asia and our clients, who will benefit from our enhanced services.”

Multi-phased implementation of the Avaloq Banking System at the Sarasin Group

Seven years ago Bank Sarasin opted to replace its proprietary software platform with Avaloq's banking solutions. After the Swiss private bank introduced the Avaloq Banking System in Switzerland in 2004, Guernsey four years ago and bank zweiplus ltd three years ago, the locations in Singapore and Hong Kong have followed suit.

Specialists from Solution Providers together with local Avaloq employees provided professional and technical support for the roll-out in Asia. Francisco Fernandez, CEO of Avaloq Evolution AG, commented: "We are pleased that Bank Sarasin, one of the leading Swiss private banks, can benefit from synergies with its locations in the Asian region thanks to the multi-client entity capabilities of our system. This extremely dynamic region is of major interest to us and thanks to the migration of Bank Sarasin to our system we are strengthening our presence in Singapore and Hong Kong considerably."

Avaloq's banking solutions are run from Bank Sarasin's data centres in Basel and Zurich. A total of 1,380 licensed staff of the Sarasin Group currently run banking transactions worldwide via the Avaloq Banking System. They benefit from its extensive functionality and high flexibility.