The Avaloq group, an international fintech company and leader in integrated and comprehensive banking solutions, has successfully completed the migration of Axion Swiss Bank to its business process outsourcing setup (BPO setup) based on the Avaloq Banking Suite. In September 2016, the specialised asset manager signed a long-term contract with Avaloq for full BPO services.
Axion Swiss Bank, a private bank that mainly focuses on asset management and consultancy, was taken over by Banca delloStato del Cantone Ticino (BancaStato) in October 2010. Following its integration, Axion Swiss Bank took the strategic decision to also migrate to the BPO setup already in use at BancaStato. Six months after the decision was made, Avaloq has successfully completed the migration of Axion Swiss Bank on the Avaloq Banking Suite.
Axion Swiss Bank is renowned for its reliable, confidential and sophisticated service. With the Avaloq BPO solution, the bank is now in a position where it can reduce efforts spent on standardised processes. The Avaloq BPO solution fully covers banking processes and back-office services in an integrated way, allowing Axion Swiss Bank to focus much more on its core competencies.
According to Axion Swiss Bank CEO Marco Tini, the focus lies on “developing deep client relationships and thus being able to assist them in achieving the best possible results. With Avaloq we can now rely on a platform where efficiency gains enable us to operate in a more agile way. Product innovation and differentiation is given more weight, ensuring an even better customer advisory service and increased competitiveness.”
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Markus Gröninger, Group Chief Global Processing Network at Avaloq, explains that “comprehensive client management and state-of-the-art product services are paramount for the future success of financial institutions. By benefiting from our outsourcing services, Axion Swiss Bank can strategically allocate additional resources to further enhancing its customer advisory. In addition, the bank gets access to Avaloq’s innovation power. We are convinced that we will play an integral role in Axion Swiss Bank’s efforts to respond to changing client demands.”