Berne, 15 July 2015
Aargauische Kantonalbank has been obtaining its securities data from the Swisscom processing centre for banks since July 2015. For this purpose, Swisscom connected the bank’s Avaloq system via adapter with the Swisscom solution based on Finnova banking software. The industrial outsourcing solution enables the bank to substantially reduce and fully variabilise the costs of managing securities data.
Aargauische Kantonalbank (AKB) is taking the next industrialisation step in partnership with Swisscom: since July 2015 AKB has obtained its securities data directly from the Swisscom processing centre. In technical terms, this means that Swisscom has connected AKB’s Avaloq banking solution via adapter to Swisscom’s processing platform based on Finnova banking software. This has all been made possible without migration thanks to the Avaloq-Finnova adapter that Swisscom developed in close cooperation with its strategic partner Finnova.
AKB is in this way switching from Swisscom’s current securities centre – which provides centralised processing services for Avaloq banks – to the next generation of securities services. According to Dr. Karsten Kunert, Head of Services & Logistics at AKB, trust in Swisscom’s banking and technical competence and cost advantages were what finally convinced AKB to make this decision: “The new solution provides us with savings of around 25 per cent over the current model.” Including this new business, Swisscom now manages securities data in its processing centre for more than 40 banks, including the Clientis Group, Valiant and Zuger Kantonalbank. The bundled volumes and management of data on Swisscom’s proprietary processing platform reduce processing costs for individual recipients. Swisscom aims to serve some 50 banks with its new securities service by the end of 2016.
Banks can also receive other business services in future via the adapter from the Swisscom processing centre for banks such as payment services without migration. One current example is Zürcher Kantonalbank, which will be processing its payment services via Swisscom from autumn 2015. Swisscom is therefore responding to the needs of banks, which are focusing increasingly on sourcing strategies in light of the pressure on costs and margins as well as growing regulatory requirements and complexity. Swisscom’s industrial solution opens up for banks the possibility of reducing and fully variabilising their processing costs to enable them to focus fully on their core competencies and drive forward areas such as digital banking.