Avaloq, a technology-driven financial services provider for wealth management and retail banks, has launched its new business process outsourcing (BPO) centre in Singapore as part of the company’s continued growth in the APAC region.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The new BPO centre, Avaloq Sourcing Asia Pacific (ASAP), has added Deutsche Asset and Wealth Management (Deutsche Bank WM), a division of the Deutsche Bank Group, as its first client.
ASAP, a wholly-owned subsidiary of the Avaloq group, will provide back offices services to Deutsche Bank WM’s Singapore and Hong Kong booking centres.
The centre will deliver its services to the financial industry in Asia based on Avaloq’s own software, the Avaloq Banking Suite.
Avaloq general manager Asia Pacific and board chairman of ASAP Peter Scott said: "This is a huge step forward for the Avaloq group’s global processing network and emphasises our continued focus on growth.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"The new BPO centre will allow institutions across the region to relinquish their non-differentiating back office processes to the economies of scale offered by BPO. This new service will significantly reduce their cost- income ratio burden and provide institutions with a path to increased profitability."
Deutsche Bank WM COO Asia Pacific Venkatesh Narasiah said: "We’re now looking forward to enjoying the benefits the Avaloq solution will bring to our business and see this as central to our growth plans."
