NZB Neue Zürcher Bank was the first bank in Zurich to go live with the B-Source Master, the new Business Process Outsourcing (BPO) solution powered by Avaloq. B-Source has been providing NZB with full BPO services, which include back office administration processes as well as comprehensive information technology services since 2002

After a transition project of only nine months NZB can now benefit from one of the most reliable banking solutions in the Swiss market, the Avaloq Banking System, as a service provided by B-Source. This has been possible only thanks to the B-Source Master, a full-blown model bank developed in conjunction with Avaloq and Orbium. B-Source has been providing NZB with full BPO services, which include back office administration processes as well as comprehensive information technology services since 2002.
Frank Gut, the CEO of NZB said:

“NZB is happy to be amongst the first pioneers of B-Source clients to use one of the most innovative systems in the field of banking software. This new BPO solution of B-Source allows us to increase the efficiency thanks to the extensive functionalities of Avaloq at a realistic price. Last but not least NZB will be part of a community and share experience with all kinds of different banks.”

Werner Hoppler, CEO of B-Source SA said:

“In 2009 B-Source completed the B-Source Master integrating all front-end applications and functionality customization according to clients’ 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.”

Francisco Fernandez, the CEO of Avaloq Evolution AG, said:

“We are very happy that NZB is the first bank of this size to introduce the Avaloq Banking System. This may have a signalling effect on the market segment of the smaller banks. Our close partnership with B-Source was very successful. The implementation at NZB strengthens our position in the Swiss market.”

NZB Neue Zürcher Bank AG NZB Neue Zürcher Bank is a financial institution focusing on the brokerage business for institutional investors from Switzerland and abroad and is one of the leading brokers for Swiss equities. The bank was founded in 2000 and today counts about 35 employees.
B-Source SA B-Source, a Swiss company, provides Business Process Outsourcing (BPO) services to private and universal banks and IT Outsourcing (ITO) to the financial, insurance and other selected industries. Its clients include banks in Switzerland and a number of other countries. All services are ISO 9001 and ISO/IEC 27001:2005 certified and the company is SAS 70 Level II Audit Report compliant. B-Source works closely with its business partners, the University of St. Gall’s Competence Center Sourcing, Avaloq and Orbium. B-Source’s new BPO platform, the B-Source Master, is «powered by Avaloq». Founded in 1995, B-Source has offices in Basle, Lucerne, Lugano, Nyon, St.Gall, Winterthur, Zurich and Munich. Its data centers are located in Lugano and Zurich. The current number of employees is about 600, half of which are banking professionals.
Avaloq; Standard Banking Software The Avaloq Group is the Swiss market leader for standard banking software. With the Avaloq Banking System, the company offers an integrated and modular all-round banking solution for private, retail and general banks, asset managers and transaction banks. More than 40 banks worldwide trust in Avaloq’s software. In addition, Avaloq also offers various services covering the entire life cycle of its banking software. The Avaloq Academy trains customers to further develop the Avaloq Banking System. The Avaloq Community is a platform where over 35,000 customers, partners and employees of Avaloq exchange their know-how and innovative ideas. Avaloq is not only based in Zurich, but has also branches in several other locations in Switzerland. Furthermore, the company has branches in Luxembourg, Vienna and Singapore. In the course of the company’s internationalisation strategy, further branches in Frankfurt, Moscow and Dubai are going to be opened. (c) NZB (pdf)
Useful link: NZB Neue Zürcher Bank A.G.