Banking software solutions provider Avaloq launched today the Business Process Outsourcing (BPO) service capabilities from its new Singapore-based BPO subsidiary.
In September, Avaloq announced that it will provide Deutsche Asset and Wealth Management (DeAWM) - a division of Deutsche Bank Group - with full BPO services for its Wealth Management back office operations in Singapore. These services include back office administration processes.
In addition, the newly-founded entity Avaloq Sourcing Asia Pacific (Singapore) Pte. Ltd is now offering BPO based on Avaloq's technology to customers in Singapore and on a cross border basis throughout the region.
The Singapore entity forms part of Avaloq's global network of BPO centres, with other sites in Switzerland and Germany.
Francisco Fernandez, Avaloq group CEO commented that this launch marks a significant next step for the company.
"When we first entered the BPO market in 2011, our vision was to build a Global Processing Network. We are becoming a market place by linking the participating banks' street side product creation capabilities with the advisory channels offered by other institutions in other financial centres," he said. "Today that vision is one step closer and we look forward to seeing the network continue to grow in the coming years."
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