Banque Cramer & Cie SA have selected the Business Process as a Service (BPaaS) solution from Avaloq for an additional 10-year term. It was awarded the contract after a competitive tender process.

Founded in the eighteenth century, Banque Cramer caters to a select private and professional clientele through personalised portfolio management, advisory and wealth management services.

The partnership between Banque Cramer and Avaloq will see additional tools and functionalities –including, Front Workplace, as a way of enhancing the banks market proposition and competitive positioning.

In the last eight years, Avaloq has helped upgrade Banque Cramer’s IT systems, allowing the bank to focus on customer service and grow the business organically and through acquisitions.

Acquisitions include the Banque de Dépôts et de Gestion in 2013 and Valartis Bank (Schweiz) AG in 2014. Both banks were brought onto Banque Cramer’s Avaloq platform within three months.

Avaloq’s primary strength has been the delivery of BPaaS and Software as a Service (SaaS) solutions to the wealth management and private banking sectors.

In November, Avaloq was recognised as a Leader in the 2019 NelsonHall NEAT vendor evaluation for Wealth & Asset Management Services. In September, it was named Overall Winner in the 2019 XCelent European Wealth Management Technology Vendors report.

Banque Cramer chief operating officer, Marc-Henri Balma, said: “Outsourcing our IT and back-office functions to Avaloq’s BPaaS has enabled us to export operational and development risks and to become more competitive.

“Avaloq has put a tremendous amount of resources and effort to develop a much more flexible, efficient solution, supported by a state-of-the-art platform that, through its large and growing ecosystem, should continue to respond to our needs and develop solutions that offer new services and opportunities.”

Avaloq’s country head for Switzerland and the Principality of Liechtenstein, Mathias Schütz, said: “We are, of course, delighted that we have won what was a very competitive tender to continue to work with Banque Cramer.

“The institution is a long-term partner and has seen first-hand the benefits that Avaloq’s BPaaS suite can deliver and the wider benefits in an increasingly competitive banking market in Switzerland. We thank the team at Banque Cramer for their continued support and look forward to growing our relationship even further.”