SunGard, one of the world's leading software and technology services providers to the financial services industry, has forged a strategic collaboration with InCore Bank AG, a Swiss bank providing a full range of professional business services, including brokerage and custody, for private banks and security dealers.
This new collaboration will bring Swiss private banks a fully comprehensive banking services solution on a new business process outsourcing platform.
Private banks and wealth management firms today face rapidly increasing and more intricate regulatory changes, as well as income fee erosion from significantly reduced revenues. This is driving firms to implement new and innovative operating models in order to support future growth with lower operational risks and costs.
To address these market trends SunGard has expanded its portfolio with InCore’s banking business services and know-how. The new alliance combines InCore Bank’s business process excellence with SunGard’s Ambit Private Banking solution suite to help private banks significantly reduce operational complexity and focus their attention on mission critical and client related tasks. These new tools and services will enable these firms to provide their advisors with optimum support and greater focus on revenue generating business activities.
Harnessing SunGard’s IT expertise and innovation with InCore Bank’s service excellence and client focus provides firms with a bespoke platform to address current and future market requirements. Based on an agile and client centric front office solution and a highly standardized and automated back end, the new offering will ultimately help Swiss private banks gain a competitive edge to meet present and future challenges.
“This new alliance offers the benefit of a “one stop shop” for private banks and removes the burden of maintaining back office processing from these firms, who can now interface with a single partner to help reduce complexity and operating costs. Coupled with the strength of SunGard’s private banking technology, we are offering a unique and comprehensive outsourcing model specifically serving the Swiss private banking industry”. – Roland Eilinger, CEO at InCore Bank AG
“This collaboration goes beyond a simple business proposal. We see this as a platform for industry collaboration as we strive to introduce greater standardization and efficiency within Swiss private banking and help Swiss private banks optimize performance amid widespread and complex change. We are confident that this new offering will be an enabler of great business benefit for these banks in helping them lower complexity and rationalize costs while enhancing efficiency and ultimately overall business performance.” - Daniel Bardini, COO, private banking, SunGard