Zürcher Kantonalbank (ZKB) has decided to process its payment transactions through Swisscom's banking platform from 2016 onwards. This processing platform is based on the banking software Finnova. Working together with Finnova, Swisscom will connect ZKB's systems to its own processing platform and thus replace a number of ZKB's payment transaction systems. As part of the outsourcing agreement, Swisscom will also take over business processes associated with payment transactions. Between 20 and 30 ZKB staff will move to Swisscom, although they will continue to work in the greater Zurich area.
According to ZKB, Swisscom was chosen because it had both a suitable payment transaction infrastructure and many years' experience as an outsourcing partner for banks. More than 80 banks have outsourced their systems to Swisscom, which already handles payment transactions and securities business for more than 50 cantonal and regional banks.
Since 2013 Swisscom has been operating a processing centre to which banks can connect without system migration – as in ZKB's case – and which can handle business processes such as payment transactions and securities business. The Finnova-based processing platform also enables documents to be digitised and securities data to be managed. In this way, Swisscom bundles processing volumes and cuts costs for individual banks. Changes to regulatory requirements are made centrally and used for the benefit of all connected banks. These banks profit from an attractive price-performance ratio and have complex tasks tackled for them. The processing platform was developed within the framework of a partnership between Swisscom and Finnova and is based on the Finnova banking system.
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