Arab Bank (Switzerland) Ltd. joins Avaloq Community

Published On : 12/22/2016

Arab Bank (Switzerland) Ltd. signed a long-term contract with Avaloq for full Business Process Outsourcing (BPO) services. By partnering with Avaloq, the bank will benefit from the Avaloq Banking Suite, a state-of-the-art solution that includes a fully integrated component for upcoming legal and regulatory requirements. The migration is expected to be completed by the middle of 2017.

Arab Bank (Switzerland) Ltd. is a private bank based in Geneva that mainly focuses on wealth management, investment advisory and trade finance. For over 50 years, Arab Bank (Switzerland) Ltd. has delivered world-class private banking services to its clients, traditionally from the Middle East. More recently, the bank has expanded its offerings to cater for commodity trading companies out of Switzerland.

The Avaloq BPO solution entirely covers banking processes and back-office services in an integrated way and is fully compliant with legal and regulatory requirements (FIDLEG, MIFID II, etc.). By outsourcing standardised processes, Arab Bank (Switzerland) Ltd. can improve its operational excellence, reduce the efforts spent on legal and regulatory aspects and focus on its core competencies, adding value for its clients.

Nasri V. Malhamé, CEO at Arab Bank (Switzerland) Ltd comments: “By working with Avaloq, we gain more efficiency and agility. As we can now build on Avaloq’s expertise when it comes to handling the increasing legal and regulatory demand, we can free up resources and focus even more on our clients by concentrating on comprehensive consulting services and high-quality advice”.

Markus Gröninger, Avaloq’s Group Chief Global Processing Network, adds, “I am extremely pleased to welcome Arab Bank (Switzerland) Ltd. in our growing customer community. Our BPO solution enables the bank to access advanced technologies as well as highly efficient processes. We are happy to offer further an innovative digital solution to Arab Bank (Switzerland), namely Digital Suite as a Service, which offers first-class online client experience and will contribute to the bank’s future growth.”

Wanda Rich

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.