The specialised asset manager Axion Swiss Bank has signed a long-term contract with Avaloq for full Business Process Outsourcing (BPO) services. By partnering with Avaloq, the bank will benefit from the same advantages as its parent company BancaStato, which has been relying on Avaloq’s expertise and competence since 2012. The migration is expected to be completed by the beginning of January 2017.
Axion Swiss Bank is a private bank that mainly focuses on asset management and consultancy. The Swiss bank is fully owned by Banca dello Stato del Cantone Ticino (BancaStato) and renowned for its reliable, confidential, and sophisticated service. The bank’s main focus lies on assisting its clients in making the most of and further developing their assets.
Following the take-over by BancaStato in January 2014, Axion Swiss Bank has now made the strategic decision to also migrate to the BPO setup based on the Avaloq Banking Suite that is already in use at BancaStato. The Avaloq BPO solution entirely covers banking processes and back-office services in an integrated way. By outsourcing standardised processes, Axion Swiss Bank can reduce the efforts spent on standardised processes, focus on its core competencies and thus deliver added value for its clients.
Marco Tini, CEO at Axion Swiss Bank comments: “By working with Avaloq, we not only profit from efficiency gains, but also from a more agile way of operating. We always strive to offer our clients comprehensive consulting services and high-quality advice. By outsourcing certain areas to Avaloq, we free up resources that can be reinvested in client management and product services.”
Markus Gröninger, CEO of Avaloq Sourcing (Switzerland & Liechtenstein) adds, “Nowadays, the smaller to mid-sized banks find it increasingly difficult to invest in technology innovation and to keep up with large-sized banks. With our solutions we help these banks close that gap as we continue to invest in technology and services. We are certain that Avaloq will be playing an integral part in Axion Swiss Bank being able to respond to the changing client demands.”