KBL Switzerland has migrated to Avaloq’s BPO solution (previously B-Source), based on the Avaloq Banking Suite.
BIL Suisse, which acquired the Swiss subsidiary of KBL in January 2015, has already migrated to Avaloq’s Swiss business process outsourcing (BPO) solution.
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BIL Suisse has purchased KBL Switzerland as part of BIL Group’s strategic focus on major international private banking centres.
The Avaloq solution includes the banking processes and back-office services of KBL.
The solution will also enhance the banks’ ability to fully focus on their core competencies and to provide enhanced client management and support.
This integration has enabled the bank to considerably expand its Swiss business and double its assets under management.
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By GlobalDataBIL Suisse CEO Thierry de Loriol said: "It was crucial that we were able to integrate KBL into our existing set-up with Avaloq Sourcing Switzerland as quickly as possible to ensure that KBL benefits from the same high-performing, efficient and innovative banking solution.
"During our decision-making process regarding this M&A project, we knew that with Avaloq Sourcing Switzerland we had the right partner on our side. Concluding the migration in as little as five months is a tremendous achievement."
