03 February 2011
BSI Monaco SAM (BSI group) becomes the first bank abroad to go live with the B-Source Master powered by Avaloq
B-Source successfully migrated the bank BSI Monaco SAM in Monte Carlo, a 100% subsidiary of BSI SA specialized in private wealth management, to its new Business Process Outsourcing (BPO) solution, the B-Source Master powered by Avaloq, on January 3, 2011. This makes BSI Monaco SAM the first bank in Monaco to opt for the B-Source Master powered by Avaloq developed by B-Source and – in the process – to transfer to the banking software offered by Swiss market leader Avaloq. After the solution was successfully migrated on schedule at the beginning of January 2011, the bank
is now covering all of its back-office activities via B-Source Master powered by Avaloq. For Avaloq, the rollout of the Avaloq Banking System marks the company's first foray into the important financial hub of Monte Carlo, while also marking an important milestone in the implementation of Avaloq and B-Source's internationalisation strategy.