Technology
BSI Strengthens Hong Kong Foothold Through Outsourcing

Banca della Svizzera Italiana, the Generali-owned bank, has
further
bolstered its Hong Kong division by outsourcing its booking
centre.
BSI now runs all five of its worldwide back
offices, including its headquarters in Switzerland, Singapore,
Monaco, Nassau and Luxembourg, through outsourcer
B-Source’s platform.
BSI is the first bank of its size to successfully
convert its global operations to an integrated BPO banking
solution, said the
firm in a statement, providing a more streamlined back office
platform and
greater synergies across its divisions.
By operating its booking centers on the
Avaloq-based, B-Source Master application, BSI hopes to better
respond to the market conditions and regulatory requirements of
the
individual countries in which it operates.
This move supports BSI Hong
Kong’s efforts to differentiate itself in the overcrowded Asian
market. “The
main focus within the first 12 months was to set up the back
office platform
which we have achieved very successfully,” Esther Heer, head of
BSI Hong Kong,
exclusively told WealthBriefingAsia
in March.
The Hong Kong office, which received its banking
license from the Hong Kong Monetary Authority in December 2011,
has rapidly
grown into an 80-plus workforce in just over two years. Heer
stated that the
Asia team has ambitions to grow Assets under Management in the
region to around
SFr18 billion ($20 billion) within the next five years – around a
quarter of
BSI Group’s current global AuM of SFr72 billion.