Avaloq is partnering with the newly founded private bank BG Suisse to ensure an optimal launch of its digital banking platform. Avaloq’s technology and services will support BG Suisse in providing its wealth management clientele with highly personalized banking services.
BG Suisse is the latest addition to Switzerland’s private banking landscape as its Lugano office is expected to be formally authorized by the Swiss regulators later this year. BG Suisse is fully owned by Banca Generali, a leading Italian private bank.
The foundation of BG Suisse’s digital banking platform will be Avaloq Core which is going to be delivered through a Software as a Service (SaaS) model. Through its Business Process as a Service (BPaaS) solutions, Avaloq will run key parts of BG Suisse’s back-office operations so the bank can focus on its main business – advising its wealth management clientele with highly personalized banking services.
Avaloq Core will act as the transactional backbone and system of record for the bank. Running the platform on a flexible SaaS model will allow BG Suisse to ramp up its operations quickly and efficiently. Avaloq’s BPaaS solutions are designed to automate back-office functions and boost standardization, delivering close to 100% in straight-through-processing (STP) rates for most processes.
Georges Roten, Regional Head Switzerland & Liechtenstein at Avaloq, said: “Our partnership with BG Suisse is a prime example of how private banks are building on Avaloq’s pioneering technology and services to be able to enhance their digital capabilities. Thanks to our tailored solutions for back-office automation, BG Suisse can focus even more on providing its clients with outstanding wealth management services. We are very excited to welcome a brand-new private bank to the Avaloq community and are looking forward to shaping the future of wealth management together.”