Deutsche Bank Singapore Taps Avaloq for its Wealth Management Back Office Services
Through its Business Process Outsourcing (BPO) services, Avaloq will complete transfer of the firm’s core IT platform onto Avaloq’s technology platform by 2015, subject to compliance with the local regulatory requirements.
“Business process outsourcing is rapidly gaining in importance as financial institutions continue to free themselves of processes and operations that are not regarded as differentiating but are subject to volume efficiencies,” says Peter Scott, general manager of Avaloq Asia Pacific. “Following the successful establishment of BPO centres in Switzerland and Germany, we are now extending this business model to Singapore where we will be announcing the formal launch of a regional BPO center later this year.”
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