The Avaloq Group has announced that it will open a business process outsourcing (BPO) center in Singapore, targeting Asian wealth managers based in the city state.
Avaloq has already been supporting private bank clients in Singapore through its service in Switzerland, named B-Source.
"The independence of the BPO model is one of its key success factors," says Martin Frick, General Manager of BPO at Avaloq. "BPO allows banks to focus on their core business, their customers and their products. Avaloq assures an industrialized operation of the back office. After the successful establishment of BPO services in the European BPO centres, we are now ready to move to providing a regionally based BPO offering for Asia. The new BPO presence will be built upon a strong partnership with a local financial institution and will leverage the best practices from the European operations."
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails