The Avaloq group has successfully migrated Ticino Cantonal Bank (BancaStato) to the B-Source Master, the Swiss Business Process Outsourcing (BPO) platform based on the Avaloq Banking Suite.
The successful going live was a double premiere: As first cantonal bank, BancaStato completed the migration to a B-Source operated full BPO model. Also, BancaStato is the first cantonal bank to go live with the next generation online banking solution from Avaloq. BancaStato has successfully been migrated to Avaloq's Swiss BPO platform, the B-Source Master based on the Avaloq Banking Suite. The going live was on 1 April, 2014 after a project time of 18 months. The bank decided for the Avaloq group due to its many years of experience in back office operations, the state-of-the-art platform and the innovative web and mobile banking solutions. The Avaloq group also provides BancaStato with new solutions in the area of credit business and fully automated processes for the cashier desk. The solution excels through its high usability designed for easy and comprehensive interaction between the bank and its clients. Thanks to the fully integrated and highly industrialised end-to-end processes of the BPO solution, BancaStato profits from major efficiency improvements and operational excellence. It also enables the cantonal bank to differentiate itself from the competition through an improved client interaction, elevating the clients' banking experience to the next level. "We want to follow our growth path and increase our market position in Ticino. Working with the Avaloq group will enable us to reduce costs and to gain in efficiency. Furthermore, we will be able to intensify the relationship with our clients and increase our service quality. This will help us to improve our long-term competitiveness", explains Bernardino Bulla, CEO of BancaStato. Francisco Fernandez, CEO of Avaloq, comments: "BancaStato was the first cantonal bank to opt both for our full BPO solution and the Avaloq front solution. The successful going live has proven the Avaloq Banking Suite's completeness and our ability to deliver. I am convinced to welcome additional retail and cantonal banks on our success proven BPO solution soon." Markus Gröninger, CEO of B-Source, adds: "I am very happy that we have successfully migrated BancaStato to our Avaloq Banking Suite based B-Source Master, and this in only 18 months - a rather short project time considering its size. With this go live we have proven that B-Source is able to respond to the needs of cantonal banks and that our comprehensive BPO solution is a valid alternative also in the retail segment."
© Finextra Research 2014