B-Source selects Avaloq for its Business Process Outsourcing (BPO)

London - 5 November 2007

B-Source has decided in favor of Avaloq, the leading banking software provider in Switzerland. B-Source will provide BPO services to its clients based on the Avaloq banking platform. The B-Source clients will be migrated to the Avaloq solution in a phased approach in the coming years.

The B-Source Board of Directors and General Management confirm with this agreement the B-Source business strategy to maintain, and further strengthen, the company's position as market leader in providing transactional banking services known as Business Process Outsorcing to the banking community. This endto- end banking process offering is industrializing a large number of middle and back office activities that allows clients to benefit from improved cost efficiency and service quality.

With regard to their future collaboration Werner Hoppler, CEO of B-Source mentioned: “Fact is that this partnership brings tremendous experience and skills in application management services and business process outsourcing services. Therefore I am delighted that we have decided in favor of our preferred partner. Both companies will leverage their image in reference to their core competencies. B-Source’s implementation team has a proven track record whereas Avaloqs’ software solution is sound and an approved quality standard.”

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