Managing a back office requires not just increasingly advanced software, but also much more highly skilled personnel.
When executing their strategy, decision-makers at private banks need to be able to rely on an IT platform and back office resources that can adapt quickly to the growing number and complexity of financial products, and also to new regulations and tax practices. Moreover, they must be able to do so in a number of banking and regulatory environments.
With our Business Business Process Outsourcing (BPO) offering, we already partner with Swiss-based banks that have offices abroad, particularly in Luxembourg, Singapore, the Bahamas and Hong Kong. We will soon be expanding our multi-country offering to include Monaco, which falls under French legislation.
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Crédit Agricole Private Banking Services (CA-PBS) has worked hard to make Business Process Outsourcing (BPO) an important avenue for development at Crédit Agricole Suisse. -
Cost pressures and the growing complexity of financial products and how they are taxed are prompting more and more private banks to outsource their IT and back office functions. This trend is likely to pick up speed. -
Managing a back office requires not just increasingly advanced software, but also much more highly skilled personnel. -
Some may see confidentiality as an obstacle to developing an outsourcing activity. However, every bank that selects Business Process Outsourcing (BPO) is given its own database, separate from those of other banks.