24 February 2016
BIL (Suisse) successfully migrates KBL Switzerland to BPO solution from Avaloq
At the beginning of January, Avaloq Sourcing Switzerland, previously B-Source, has successfully migrated KBL (Switzerland) Ltd (KBL) to the BPO platform of Banque Internationale à Luxembourg (Suisse) SA (BIL Suisse). With the migration of KBL taking only five months, Avaloq Sourcing Switzerland played a significant role in enabling the successful post-merger integration.
Banque Internationale à Luxembourg (Suisse) SA (BIL Suisse) offers its services in Switzerland since 1984, mainly in the private and corporate banking sectors. With the migration to Switzerland’s leading BPO solution based on the Avaloq Banking Suite in August 2015, the bank has been benefiting from an excellent solution to support its long-term growth strategy and competitiveness.
In January 2015, Banque Internationale à Luxembourg (BIL) and KBL European Private Bankers (KBL epb) announced that Banque Internationale à Luxembourg (Suisse) SA acquires KBL (Switzerland) Ltd, a wholly owned affiliate of KBL epb, as part of the BIL Group’s strategic focus on major international private banking centres. Thanks to this integration, BIL Suisse was able to expand its Swiss business and double its assets under management.
As part of the takeover KBL has been successfully migrated to BIL Suisse’s existing BPO setup based on the Avaloq Banking Suite in only five months. The Avaloq BPO solution entirely covers banking processes and back-office services in an integrated way and enhances the banks’ ability to fully focus on their core competencies and to provide enhanced client management and support.
Thierry de Loriol, CEO BIL Suisse comments: “Switzerland has always been the most important booking centre outside Luxembourg. It was crucial that we were able to integrate KBL into our existing set-up with Avaloq Sourcing Switzerland as quickly as possible to ensure that KBL benefits from the same high-performing, efficient and innovative banking solution. During our decision-making process regarding this M&A project, we knew that with Avaloq Sourcing Switzerland we had the right partner on our side. Concluding the migration in as little as five months is a tremendous achievement.”
Markus Gröninger, CEO of Avaloq Sourcing Switzerland, adds: “I am excited that we were able to support BIL Suisse in this successful post-merger integration in a very short timeframe. This example shows that our BPO solution goes far beyond cost efficiency. It also significantly supports our customers‘ growth strategies.”