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B-Source (Avaloq Group) takes over Wealth Management Operations of Back-Office of Deutsche Bank (Switzerland)

Avaloq subsidiary B-Source is taking over operational responsibility for the Wealth Management Operations Back-Office of the Deutsche Bank (Switzerland) Ltd with effect from July 1, 2013 and supports the bank in further concentrating on its core business.

With effect from July 1, 2013, B-Source, a member of the Avaloq group, is taking over operational responsibility for the Wealth Management Operations Back-Office of Deutsche Bank (Switzerland) Ltd, including 80 employees in Geneva. Transformation of the core-banking platform to the integrated Avaloq Banking Suite is scheduled for summer 2014.

Markus Gröninger, CEO of B-Source, said: “Our continuously increasing community corresponds clearly to our growth path. This confirms us to be on the right track with our strategy of offering highly industrialised services that let banks concentrate on their core business and generate future growth.”

Francisco Fernandez, CEO of Avaloq, is also very pleased with the new deal: “In migrating to the integrated Avaloq Banking Suite, our clients are setting the highest standards in terms of individualising processes and industrialising operations. We love challenges like that. This is how we generate maximum added value for our clients.”

Source: Avaloq 28.06.2013

Filed under: Data Management, Reference Data, Wealth Management, , , , , , , , , , ,

Outsourcing Reference Data Management: Cost Reduction and New Revenue Opportunities

The past 12 months has seen the emergence of new players offering Business Process Outsourcing (BPO) services for Reference Data Management. These new arrivals expand the range of options available to financial institutions for addressing the challenges of regulatory compliance, operational cost reduction and scalability.

But BPO has other benefits, and innovative adopters have benefited from using the model to create new value-added services. By catering to clients’ data management needs, these players have been able to transform what’s traditionally been considered a cost centre into a new and significant source of revenue.

This paper – from AIM Software – explores this exciting new trend, and describes how an established financial institution took advantage of BPO to turn its enterprise data management initiative into a new source of revenue and business growth.

Download the White Paper Now to Find Out More

Source: A-Team, March 2013

Filed under: Corporate Action, Data Management, Data Vendor, Library, Market Data, Reference Data, Standards, , , , , , , , , , , , , , ,