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Avaloq’s BPO Centre in Germany starts operation of Avaloq Banking Suite for five banks

The Avaloq group’s Business Process Outsourcing (BPO) Centre in Germany, Avaloq Sourcing (Deutschland) AG, successfully and simultaneously migrated five banks to its efficient BPO solution as of 31 December 2015. The solution will support the future sustainable growth of the five customer banks in the European market.

Upon going live, Julius Bär Europa AG, Tradegate AG Wertpapierhandelsbank, Bank Vontobel Europe AG, V-BANK AG and quirin bank AG, including their European offices, were successfully migrated to a BPO solution from Avaloq.

Avaloq Sourcing (Deutschland) AG, which is wholly owned by the Avaloq group, is administrating assets of almost 30 billion euros. The services provided by Avaloq’s German BPO centre are unique: Avaloq Sourcing (Deutschland) AG is the only company in the European Union which offers a BPO solution based on its own software, the Avaloq Banking Suite. The Avaloq Banking Suite is a fully integrated and broadly scalable core banking solution used by 150 financial institutions in over 20 countries worldwide.

As an independent service provider for the financial sector, Avaloq Sourcing (Deutschland) AG is part of the global BPO Centre network within the Avaloq group. The leading global fintech company already successfully offers BPO services from its Swiss and Singapore locations.

Klaus Rausch, General Manager Central & Eastern Europe at Avaloq says: “The simultaneous migration of five banks with different business models and offerings was a complex and ambitious project. Its successful completion once again confirms our 100 percent implementation success rate. In addition, the project proves our expertise in adapting the solution to German and European conditions. As an independent provider our offering has already seen significant traction in the marketplace and by opening our offering to more customers, we have now created the preconditions for continued growth in the emerging BPO market.”