The contract covers Deutsche Bank’s wealth management businesses in six countries – Switzerland, Luxembourg, the UK, Saudi Arabia, Singapore and Hong Kong – and represents a significant business process as a service (BPaaS) and software as a service (SaaS) for Avaloq.
According to Hubbis, the extension of the contract will see Avaloq providing the institution with an integrated, end-to-end outsourced service that reduces complexity while delivering scale benefits and data analytics at lower cost. Therefore, it allows Deutsche Bank to focus on and deliver a client service proposition and new products.
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