Avaloq has announced the formal launch of business process outsourcing service capabilities from its new Singapore-based BPO subsidiary, having said in September it will provide Deutsche Asset & Wealth Management with such services.

Avaloq has announced the formal launch of business process outsourcing service capabilities from its new Singapore-based BPO subsidiary, having said in September it will provide Deutsche Asset & Wealth Management with such services.

Following on from the DeAWM announcement, Avaloq said the Singapore business is now offering the services to customers in the city-state and on a cross-border basis throughout the Asian region.

Other BPO centres are located in Germany and Switzerland.

“Costs in bank processing is a volume business and the consolidated volumes arising from our BPO service will translate into increased efficiency and profitability for participating institutions,” Peter Scott, general manager for Avaloq Asia Pacific and chairman of the board for Avaloq Sourcing Asia Pacific (Singapore), said.