Societe Generale’s Private Bank outside of France chooses Azqore for its information systems and back-office operations’ offer
In a constant drive to improve the quality of service and user experience, Societe Generale signs with Azqore, a subsidiary of Indosuez Wealth Management, an agreement related to the execution of back-office operations and a large part of the IT services of Societe Generale Private Banking’s international entities.
As part of this contract, Azqore, a subsidiary of Indosuez Wealth Management specialising in the execution of information systems and the processing of banking operations for wealth management players, would provide these services to Societe Generale private banking’s international entities. The agreement would cover Societe Generale Private Banking in Luxembourg, Monaco and Switzerland and the Group Kleinwort Hambros, headquartered in London.
The expertise of Azqore would enable Societe Generale Private Banking and its clients to benefit from enhanced operations processing and digitalized services backed by a shared platform that improves the user experience and competitiveness.
‘In a profession facing major transformations and an increasingly demanding environment, this agreement will enable us to offer our clients enhanced services while improving the performance of our international private banking business model. By leveraging the knowledge and technological expertise of Azqore, we will focus entirely on managing our long-term relationships with our clients which is our core role as private bankers,’ notes Patrick Folléa, Head of Societe Generale Private Banking.
‘This agreement aligns with Crédit Agricole Group’s strategy to pool its industrial platforms with prestigious partners in the finance sector. It also furthers the goal of Indosuez Wealth Management and Capgemini, as shareholders of Azqore, to develop an industry-leading provider of IT and banking outsourcing services for wealth management. The Azqore strategy is further strengthened in the current climate as speeding up the digital transformation is becoming a priority for everyone,’ adds Jacques Prost, Chairman of Azqore and Group CEO of Indosuez Wealth Management.
‘Our unique technology platform, which comprises a “Core Banking” supplemented with leading software from the world of wealth management, thanks to one of the most robust fintech ecosystems, will respond to the future uses of private bankers and their clients. The operational efficiency and diversification of services that underpin this agreement will contribute to improving the value proposition and success of the digital transformation in private banking. It will also enable Azqore to strengthen its presence and its array of services in Europe, starting with Luxembourg where it plans to open offices soon, followed by the United Kingdom,’ concludes Pierre Dulon, CEO of Azqore.
The implementation of this agreement is subject to the approval by competent bodies and regulatory authorities. The migration of back-office and related IT services to Azqore for the Societe Generale entities concerned would take place in stages over several years, starting from 2022.
Azqore signs a strategic partnership with Swiss financial technology provider Evooq
Azqore, Indosuez Wealth Management’s subsidiary specialising in technology outsourcing services and banking transactions for the wealth management sector, has signed a strategic partnership with the Swiss financial technology company Evooq.
Building on the partnership signed in 2018 with Capgemini, a global leader in consulting, technology services and digital transformation, Azqore is reaffirming its strategic ambitions and ramping up its transformation. By committing to open its proprietary S2i platform to external solutions, Azqore will enhance its clients’ operational efficiency while also improving their user experience thanks to innovative, user-friendly solutions. Furthermore, in a world of constant change, Azqore has put digital at the heart of its value proposition. The development of its digital ecosystem in Switzerland and Singapore, combined with the ongoing reinforcement of its areas of expertise, enables it to consolidate its standing as a preferred partner in digital transformation.
The agreement signed with Evooq is an important step forward. Evooq provides an interconnected suite of modular solutions that allow wealth management companies to meet a variety of needs through a single, integrated user experience. Its advisory application connects to Azqore’s S2i proprietary platform and improves the efficiency of wealth managers and private banks by providing a coherent user experience, from the creation of investment proposals to their operational transcription. One option offered by the Evooq solution, which is provided by Edgelab, enables multi-class asset risk analysis, portfolio simulations and automated investment recommendations. In addition, this solution makes it possible to give personalised advice, enriched with data about client preferences, risk profiles and suitability to the client profile.
The combined capabilities of Azqore and Evooq will help advisors be more effective thanks to streamlined, automated processes, enabling them to spend more time with their clients and to concentrate on advice and investment opportunities.
Pierre Dulon, CEO of Azqore, noted: “This partnership is aimed at offering our clients modern digital solutions that integrate perfectly with our core platform S2i. We are upgrading our value proposition in an increasingly demanding market, combining the performance and user friendliness of the Evooq investment advisory solution with the technical expertise of Edgelab and the functional depth of our S2i platform.”
Cédric Ullmo, CEO of Evooq, added: “We are happy to partner with Azqore and to complement their solution with ours. Together, we want to help wealth managers stand out with a successful digital transformation.”
Thanks to this partnership, Azqore, backed by a unique system and unparalleled expertise that rely on a digital ecosystem and a spirit of continuous innovation, is cementing its position on the fast-growing market for outsourcing banking operations and IT services for private banks.