Banque Cramer goes live with the B-Source Master
B-Source has successfully migrated Banque Cramer to the B-Source Master. This makes the Geneva-based private bank the tenth client to switch to this cutting-edge banking solution offered by the Swiss business process outsourcing (BPO) provider.
Bioggio, January 26, 2012
Banque Cramer & Cie. and B-Source are pleased to announce the successful migration of the Geneva-based private bank to the B-Source Master, after a project lasting just nine months. The solution went live on schedule on January 3, 2012 and has so far operated seamlessly.
The B-Source Master is one of the most modern and reliable banking solutions on the Swiss banking market. The Avaloq-based banking application landscape offers Banque Cramer a future-proof solution that provides extensive coverage for banking processes including the back office as a service under the BPO model. All banking processes are largely automated under this system, which leaves the bank free to concentrate further on its core activities, namely client business and the financial markets.
There are in fact two banks that migrated to B-Source under this project: in addition to the parent company Banque Cramer, with its registered office in Geneva and a branch in Lugano, its legally independent sister branch Private Investment Banking Ltd. in Nassau switched to the new platform at the same time.
“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 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.
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.
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.