B-Source, a subsidiary of Avaloq group, has assumed the operational responsibility for the Wealth Management Operations Back-Office of the Deutsche Bank (Switzerland), including 80 employees in Geneva.
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Shift of the core-banking platform to the integrated Avaloq Banking Suite is timed for summer 2014.
Markus Groninger, CEO of B-Source, said: "Our continuously increasing community corresponds clearly to our growth path. This confirms us to be on the right track with our strategy of offering highly industrialised services that let banks concentrate on their core business and generate future growth."
Francisco Fernandez, CEO of Avaloq, said: "In migrating to the integrated Avaloq Banking Suite, our clients are setting the highest standards in terms of individualising processes and industrialising operations."
Avaloq group is a Switzerland-based developer of comprehensive banking solutions for retail, wealth management and universal banks.
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