26 July 2016
Find out more

Avaloq to supply wealth management back office services to Deutsche Bank in Singapore

02 September 2014  |  2026 views  |  0 Source: Avaloq Sourcing Asia Pacific

Avaloq Sourcing Asia Pacific (Singapore) Pte. Ltd., the newly founded subsidiary of the Avaloq group, will supply back office services for the Wealth Management business of Deutsche Asset & Wealth Management in Singapore.

The new organisation will be part of Avaloq’s global network of Business Process Outsourcing (BPO) centres.

Avaloq Sourcing Asia Pacific (Singapore) Pte. Ltd. will provide Deutsche Asset & 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. The BPO provider is the newly founded subsidiary of the Avaloq group, an international leader in integrated and comprehensive banking solutions for wealth management, universal and retail banks. The new organisation will be part of Avaloq’s global network of BPO centres.

The move to Avaloq Sourcing Asia Pacific (Singapore) Pte. Ltd, a subsidiary of the Avaloq group, is planned in two phases: the first in Q3 2014 and the second – the transfer of the core IT platform to Avaloq’s technology platform – is planned to take place in 2015, subject to compliance with local 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. 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 centre later this year”, comments Peter Scott, General Manager for Avaloq Asia Pacific and Chairman of the Board for Avaloq Sourcing Asia Pacific (Singapore).

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit VocaLink.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
satelliteContactless Bitcoin startup Plutus Tap &am...
9208 views comments | 9 tweets | 4 linkedin
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9201 views 14 comments | 32 tweets | 38 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
7700 views comments | 18 tweets | 25 linkedin
Thomson Reuters and Imperial College form fintech and regtech research partnershipThomson Reuters and Imperial College form...
5885 views comments | 29 tweets | 16 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
5880 views 0 | 9 tweets | 2 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job