The Basel-based private bank La Roche & Co Banquiers has adopted the Avaloq Banking System for its complete range of banking transactions. La Roche & Co Banquiers unites 200 years of private banking tradition with state-of-the-art banking software.
Private banking is also gearing up to the demands of an increasingly complex world and adopting new standards in information technology. The Basel-based private bank La Roche & Co Banquiers shows how some 200 years of tradition can be combined with the most advanced standard software for banking applications available on the Swiss market. On 3 January 2005, following a ten-month implementation period, the bank will go live with the Avaloq banking system for its entire banking operations – from front-office to back-office.
Impressive straight-through processing
The Avaloq banking system replaces the three existing systems previously used by La Roche & Co Banquiers, thereby increasing efficiency in the handling of bank transactions. Thanks in particular to straight-through processing, enabling the fully automatic placement of domestic and international stock market orders, Avaloq will greatly improve the bank's operations. Moreover, replacing the three systems will also massively reduce data redundancy and hence enhance the quality of data processing.
Tradition meets technology
For the 100 employees of La Roche & Co Banquiers, quality based on trust, respect and continuity are the key elements of the bank's client service philosophy. Leaving the efficient handling of all client transactions to the Avaloq banking system allows the employees of La Roche & Co Banquiers to focus on these core competencies of private Banking – all possible thanks to the existing functionalities of the standard Avaloq software, which fully meet the bank's requirements while automatically taking account of regulatory requirements.
For Johann Jakob La Roche, partner and member of the executive board, the private banking tradition does not preclude the use of modern technology: "Service for us means, above all, doing everything we can to simplify banking transactions for our clients. In today's increasingly complex world, this calls for the use of increasingly powerful technologies. By using Avaloq, we are able to offer our clients first-class private banking based on leading-edge technology."
Standard project without the need for add-ons
The successful implementation of the La Roche & Co Banquiers business model by Avaloq and its partner, Comit, once again demonstrates their ability to implement projects at small and mid-sized banks using a standard procedure. Cornerstones of the project's success were the customer's clear specifications, the use of predefined standard processes for banks and Comit's efficient project organization. The ten-strong project team succeeded in implementing the Avaloq system on time and within budget without the need to develop add-on software.
After the project carried out for the Zurich private bank Rahn & Bodmer in 2003, the example of La Roche & Co Banquiers illustrates how effectively the standard Avaloq software can be tailored to the IT needs of any Swiss private bank.
Zurich, 3 January 2005
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