20 September 2016
Everest Group recognises Avaloq as Star Performer in Capital Markets BPO PEAK Matrix assessment
The Avaloq group, an international leader in integrated and comprehensive banking solutions, has been acknowledged as a Star Performer in Business Process Outsourcing (BPO).
Everest Group, a leading global research company specialised in BPO, has revealed the results of its annual ‘Capital Markets BPO – Service Provider Landscape with PEAK Matrix’ Assessment, finding Avaloq as one of its Star Performers.
Everest Group’s PEAK (Performance, Experience, Ability, Knowledge) Matrix provides an objective, data-driven comparative assessment of service providers based on their market success in terms of revenue, number of clients and growth, and Capital Markets BPO delivery capability.
Avaloq has been named as one of only three star performers in the assessment, registering in the 75th percentile. The recognition is an acknowledgement of the significant progression Avaloq has made over the previous 12 months compared to the rest of the industry. In November last year, Avaloq saw its BPO centre in Asia go live, alongside the successful migration of Deutsche Bank in Hong Kong and Singapore. In early January, the BPO centre in the European Union went live, with five other banks also successfully migrating to an Avaloq BPO solution simultaneously in a big bang.
Another stand out success is Avaloq’s continued expansion in the retail banking space, most notably its work with Raiffeisen and the extended set of capabilities on offer. The business is also continuing to expand and evolve with ever changing market demands, by offering the likes of standardised regulatory solutions. With its new options also for on-premise users of the Avaloq Banking Suite such as the Back Office Portal or AFP as a Service, Avaloq is making further major steps in the service business.
Markus Gröninger, Group Chief Global Processing Network (GPN) at Avaloq, comments: “Avaloq has set out a strategic focus on the growth and expansion of our managed banking services. With our fully owned BPO centres in Switzerland, Singapore and Germany we have positioned ourselves as a leading provider of BPO solutions. It is a wonderful achievement to be recognised as a Star Performer by a leading independent research company and a fantastic endorsement supporting Avaloq’s offering, strategy and future growth in the BPO market.”