Intesa Sanpaolo Private Bank (Suisse) SA and Avaloq have successfully onboarded Banque Morval onto Avaloq's Business Process as a Service (BPaaS) solution in just nine months.
The merger of Intesa Sanpaolo Private Bank (Suisse), the Italian Intesa Sanpaolo group’s Swiss private banking subsidiary, and Banque Morval was completed in April last year and created the new legal entity Intesa Sanpaolo Private Bank (Suisse) Morval.
Avaloq’s BPaaS solution was initially selected by Intesa Sanpaolo Private Bank (Suisse) to fast-track the integration of legacy systems and multiple client assets. Using Avaloq’s innovative ready-for-business approach, the implementation reduced costs and time-to-market for the bank and has become the platform of choice to for their international private banking business. In total, Intesa Sanpaolo Morval (Suisse) SA now has most of its private banking international business managed on Avaloq’s Business Process as a Service (BPaaS) solution. The migration of further international entities is in planning.
Avaloq is the leading provider of BPaaS to financial institutions and is forecasting strong demand for this type of agile, efficient solution as banks and wealth managers increasingly undertake in-depth digitisation projects. BPaaS allows institutions to focus resources on top line growth opportunities such as product innovation, new business models and channel development.
Jürg Hunziker, CEO of Avaloq, said: “We are delighted to have completed the migration quickly and seamlessly, and deepened the existing relationship we have with Intesa Sanpaolo. Our solution enables institutions to radically change, simplify and enrich the way they run their processes and deliver tangible benefits, particularly with the integration of new products and services.”