The Avaloq group has successfully completed the transformation project to exchange the core banking platform at the Wealth Management Operations Back Office of Deutsche Bank (Switzerland) Ltd to the B-Source Master, the Swiss Business Process Outsourcing (BPO) platform based on the Avaloq Banking Suite.
Deutsche Bank (Switzerland) Ltd today announced that the migration of its core banking platform to Avaloq’s Swiss BPO platform, the B-Source Master based on the Avaloq Banking Suite, has been completed. The transformation project was carried out within 13 months after the Avaloq group had taken over operational responsibility for the Wealth Management Operations Back Office of Deutsche Bank (Switzerland) Ltd.
Avaloq is the only independent provider for the financial industry to both develop and operate its own software. Business Process Outsourcing and Operations of the Avaloq Banking Suite for Deutsche Bank (Switzerland) Ltd are provided through B-Source, Avaloq’s BPO centre in Switzerland.
Marco Bizzozero, CEO Deutsche Bank (Switzerland) Ltd, said: “The migration of the operational platform and the outsourcing of support processes allow us to concentrate on our strengths and to free up resources for our core business: client advisory and investment management. With this Deutsche Bank (Switzerland) Ltd is further extending its leading position in international wealth management."
B-Source CEO Markus Gröninger adds: “In a short period of time we successfully finalised the migration. Our highly industrialised services allow banks to fully concentrate on their core business and focus on generating future growth – I am delighted that Deutsche Bank (Switzerland) Ltd now profits from these advantages too.”
Francisco Fernandez, Avaloq group CEO, expressed his satisfaction with the going live: “I am pleased to welcome Deutsche Bank (Switzerland) Ltd as an important customer in our growing BPO community and consider this successful migration as a powerful reference for other tier one banks.”