Banque Cramer & Cie Successful Go Live

Geneva, January 26th 2012 - On January 26th, 2012 Banque Cramer & Cie became the 10th bank to Go Live with the B-Source business process outsourcing solution (BPO) powered by Avaloq and implemented by Orbium.

As of the 26th of January, “Banque Cramer & Cie (BCC)” and its business unit “Private Investment Bank Ltd (PIBL)” in Nassau were fully functional on the B-Source master, a full-blown model bank developed in conjunction with Avaloq and Orbium. They have successfully been using the new B-Source Business Process Outsourcing (BPO) services which include back office administration processes as well as comprehensive information technology services. Orbium helped tailor and parameterize the B-Source Master Bank to the bank’s specific needs and ensure a smooth transition to the new BPO solution. An experienced Orbium team also led the user training and change management to the new system.

After a transition period of only 9 months, Banque Cramer & Cie’s end users are now benefiting from one of the most reliable banking solutions in the Swiss market, the Avaloq Banking System and the complete support of the best of breed partnership between Orbium,   B-Source and Avaloq. Banque Cramer & Cie is yet another testament to the benefits for small and mid-sized banks to pass to a BPO solution. Additionally to the benefits Banque Cramer gains from back office outsourcing, the automation of the processes enables the bank time to focus on its core business - customer care and financial markets - giving them a competitive advantage in the form of additional efficiency and productivity.

“BPO has been a widely discussed topic in the financial industry for some years, but to date no truly market-ready complete solution has been available,” explains Marco Netzer, Chairman of the Board of Directors of Banque Cramer & Cie. SA. “The B-Source Master is the first solution on the market really able to deliver on the promises of BPO, and in a very short space of time.”

Markus Gröninger, CEO of B-Source, is delighted to welcome the new client and adds: “Banque Cramer & Cie’s decision to opt for B-Source is an indication that the time is ripe for BPO within the financial industry. BPO and the B-Source Master enable even small to medium-sized banks the chance to operate using a high-performance, comprehensive banking solution, giving them a cost-effective way to enjoy benefits of scale and profit from the industrialisation of the back office.”

Avaloq CEO Francisco Fernandez adds: “The vast potential of BPO, and consequently our close cooperation with B-Source, are increasingly coming to the fore. At a time of greater market regulation, strong pressure on margins and increasing customer demands, financial institutions of all sizes need to reposition themselves. The rollout of the Avaloq-based B-Source Master at Banque Cramer illustrates in impressive fashion how such a BPO solution can be implemented seamlessly and can boost a bank’s competitiveness.”

About Orbium

Orbium is a leading IT and business consulting firm exclusively focused on the financial services industry. Orbium seamlessly integrates clients’ business, organizational and IT strategies, helping them achieve a higher return on investments.
Orbium’s consulting services are offered on a project or strategic staffing basis, in both custom and package environments and across all technology platforms. As an Avaloq Premium Implementation Partner with offices in Geneva, London, Luxembourg, Singapore and Zurich, Orbium prides itself on its strong track record based on quality and successful project completion. By effectively matching our consultants’ skills and expertise to clients’ strategic goals, Orbium helps clients leverage their performance and productivity. www.orbium.com


About Banque Cramer & Cie

The Geneva-based private bank Banque Cramer has one of the longest traditions in Swiss private banking, with roots stretching back to the 18th century. Pierre Cramer de Brandis laid the foundation stone when he established the financial institution Cramer & Cie in 1709. The private bank, which has operated under the name Banque Cramer & Cie SA since 2003, specialises in wealth management and personalised investment advisory. It offers its clients a broad spectrum of tailored services. Banque Cramer & Cie employs a total of 65 staff at its head office in Geneva and its branches in Lugano and Nassau (Bahamas). See www.banquecramer.ch for further information.


About B-Source

B-Source is Switzerland’s leader in business process and IT outsourcing for the financial industry. B-Source delivers everything from individual business services to IT outsourcing and end-to-end banking solutions, from single modules to full BPO. The B-Source Master, an Avaloq-based banking application landscape, forms the core of its market offering. Its clients are mainly private banks, medium-sized universal banks, insurance companies and SMEs in related industries.
B-Source operates worldwide. Its main markets are Switzerland and central Europe, and it is expanding into Asia and the Middle East. B-Source was founded in 1995 and today employs around 600 staff, over half of whom are banking and IT specialists. The company is 51%-owned by the Avaloq Group and 49% by BSI AG (part of the Generali Group). It has its registered office in Lugano, with further offices in Lucerne, Nyon, Winterthur, Zurich and Munich. B-Source holds various ISO certificates and fulfils the requirements of FINMA and the relevant European banking supervisory authorities. See www.b-source.ch for further information.


About Avaloq group: Essential for Banking

For more than 25 years, the Avaloq group has been supplying comprehensive, integrated banking software solutions to banks. The solutions delivered by Avaloq cover a wide range of fully integrated back, middle and front office functionalities and are operated at the most demanding financial centres in the world. At present, leading retail, private and universal banks in over 20 countries throughout the world trust Avaloq as a competent innovation partner and expert adviser. The Avaloq Community forms a strong network of excellence consisting of clients, partners and universities that together help to shape the banking technology of the future. In the last ten years, the Avaloq group increased its staff from 200 to more than 1’000 highly specialised banking and IT specialists. The Zurich-based company maintains two development centres in Switzerland and the UK. Avaloq has further offices in Switzerland as well as at strategically important financial centres including London, Paris, Luxembourg, Frankfurt, Munich, Vienna, Singapore and Hong Kong. See www.avaloq.com for further information.
 

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