Swisscom beefs up banking business

Swiss incumbent Swisscom is beefing up its banking-focused IT Services division by acquiring Entris Banking IT’s outsourcing business, which has 41 banks on its books.
The deal covers 250 Entris staff and will improve the banking expertise at Swisscom’s subsidiary, the operator states. Entris’ banking outsourcing division is contracted by banks with a total balance sheet value of 50 billion Swiss francs (€40.7 billion), providing them with the Finnova banking management product, and 35 peripheral systems.
"We are building the processing centre of the future for banks in Switzerland. In doing so, we are reducing the costs of standardized banking processes and allowing banks to concentrate on their core competencies. Security, stability, reliability and efficiency are our priorities,” says Andreas König, Swisscom IT Services chief executive.