A business process outsourcing centre in Singapore, created by Avaloq, has gone live as the firm builds out its Asia offering.

The business process outsourcing centre in Singapore of Zurich-headquartered fintech firm Avaloq has gone live - a major step in the firm's Asia growth plan, it said.

The centre provides Deutsche Bank Wealth Management, part of Deutsche Bank, with back-office operations support for its Singapore and Hong Kong booking centres.

The centre, called Avaloq Sourcing Asia Pacific, is a wholly-owned subsidiary of the Avaloq group. 

“This is a huge step forward for the Avaloq group’s global processing network and emphasises our continued focus on growth. The new BPO centre will allow institutions across the region to relinquish their non-differentiating back office processes to the economies of scale offered by BPO,” said Peter Scott, Avaloq general manager for Asia-Pacific and board chairman of ASAP.