NBAD Private Bank goes live with the new B-Source’s BPO solution powered by Avaloq
On January 4th, 2010 the NBAD Private Bank (Suisse) SA, the 100% owned private banking subsidiary of the National Bank of Abu Dhabi (NBAD), became the first bank in Geneva to go live with the B-Source Master, the new Business Process Outsourcing (BPO) solution powered by Avaloq.
After a transition period of only nine months, NBAD Private Bank (Suisse) SA now benefits from the most reliable banking solution in the Swiss market, the Avaloq Banking System, as a service provided by
B-Source. This was made possible with the B-Source Master, a full-blown model bank developed in conjunction with Avaloq Evolution and Orbium. NBAD also benefited from incorporating its trade finance business into the overall solution. B-Source has been providing NBAD Private Bank (Suisse) SA with full BPO services, which include back office administration processes as well as comprehensive information technology services since 2007.
“NBAD Private Bank (Suisse) SA is the first of B-Source’s private banking clients to start using one of the most innovative systems in the field of banking software.The new B-Source Avaloq based BPO solution allows us to increase our efficiency and to expand our business model thanks to the comprehensive functionalities of Avaloq, which via the B-Source outsourcing model is available at an affordable price for small and medium sized banks,” said Khaled Suleiman, the CEO of NBAD Private Bank (Suisse) SA.
“In 2009 B-Source completed the B-Source Master, integrating all front-end applications and functionality customization according to each client's requirements. B-Source is in the process of migrating its other clients onto the B-Source Master. We are happy how B-Source, Avaloq and Orbium ran this complex project. The fact is that we have now a competitive solution for niche and mid-sized banks,” said Werner Hoppler, CEO of B-Source SA.
“We are very happy that NBAD Private Bank (Suisse) SA is the first bank originating from the United Arab Emirates to introduce the Avaloq Banking System. This may have a signalling effect on this attractive market. In addition, we are very pleased that the Avaloq Banking Systems can now be implemented at smaller banks as well, thanks to our close partnership with B-Source. The implementation at NBAD Private Bank (Suisse) SA strengthens our position in the Swiss market,” said Francisco Fernandez, the CEO of Avaloq Evolution AG.