Avaloq’s Business Process as a Service (BPaaS) solution has been selected by Intesa Sanpaolo Private Banking Suisse to fast-track the integration of legacy systems and new client assets and position the bank for growth. Using Avaloq’s innovative ready-for-business approach, the implementation significantly reduced costs and time-to-market for the bank.
Intesa Sanpaolo Private Bank Suisse is the Lugano-based branch of the Fideuram – Intesa Sanpaolo Private Banking Group, the largest Italian private bank and the fourth biggest in the Eurozone. As at the end of 2017, the group had EUR214 billion in client assets.
Avaloq’sBPaaS solution will enable the bank to accelerate its growth strategy of client acquisition and geographic expansion, as the Private Banking division recently announced an international expansion programme and was looking for a partner to implement a state-of-the-art BPaaS platform within a short period of time.
Avaloq used its tried-and-tested ready-for-business approach to bring Intesa Sanpaolo Private Bank Suisse live in the quickest time possible. This involved using a BPaaS solution based on a fully working, pre-tested standard, including the delivery of new digital channels, which significantly lowered costs and time to market. The inherent flexibility of BPaaS allows for such fast implementation and future adaptability.
Avaloq is the leading provider of BPaaS to financial institutions and is forecasting strong demand for this type of agile, efficient solution as banks and wealth managers increasingly undertake in-depth digitisation projects. BPaaS allows institutions to focus resources on top-line growth opportunities such as product innovation, new business models and channel development.
Avaloq recently reported record earnings for 2017 driven by strong demand from a growing list of international clients. Its front and back office solutions as well as its Software as a Service (SaaS) and BPaaS offerings continue to win new customers and deliver significant value for established customers as the digital transformation of the financial services sector, the need for flexible business models and increased automation drive the future of the market.
Tobias Unger, Member of the Group Executive Board and Regional Manager for Switzerland and Liechtenstein, Avaloq, said: “We are delighted to welcome one of the leading banks in Europe to our growing community of customers. The quick implementation of Avaloq’sBPaaS solution is a testament to both the strength and depth of our service suite implementation methodology and, significantly, the increasing role that BPaaS is set to play in the future of the world’s banking and wealth management industry.”