The Avaloq group is today announcing its new Business Process Outsourcing (BPO) centre in Singapore is now live, another significant step in the continued growth of the Avaloq group in the region.
The new BPO centre, which is the first of its kind in the APAC region, now provides Deutsche Bank Wealth Management (Deutsche Bank WM), a division of the Deutsche Bank Group, with back office operations support for its Singapore and Hong Kong Booking Centres.
Avaloq Sourcing Asia Pacific Ltd. (ASAP), a wholly-owned subsidiary of the Avaloq group, is a fully functioning BPO centre in the heart of Singapore. It offers its services to the financial industry in Asia based on Avaloq’s own software, the Avaloq Banking Suite. Avaloq’s BPO services were recently awarded ‘Most Innovative Solution’ at the recent Asian Private Banker Technology awards.
Peter Scott, Avaloq General Manager Asia Pacific and Board Chairman of ASAP, says, “This is a huge step forward for the Avaloq group’s global processing network and emphasises our continued focus on growth. The new BPO centre will allow institutions across the region to relinquish their non-differentiating back office processes to the economies of scale offered by BPO. This new service will significantly reduce their cost-income ratio burden and provide institutions with a path to increased profitability.”
Venkatesh Narasiah, COO Asia Pacific at Deutsche Bank WM, says, “BPO is rapidly growing in importance as financial institutions continue to free themselves of processes and operations. We’re now looking forward to enjoying the benefits the Avaloq solution will bring to our business and see this as central to our growth plans.”
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