News

BinckBank Professional Services and Syntel to continue together as Able

by Isabelle van Ast | Jan 29, 2013
BinckBank Professional Services and Syntel -a BinckBank subsidiary- will join forces and from now on operate under the new name Able. Able will be an autonomous company specialising in the field of designing, developing and processing software platforms for investing and saving. Able offers asset managers, banks, insurers and pension institutions a high degree of automation which allows them to systematically cut back their costs for these processes by up to 50%. The new autonomous company will operate in the Netherlands and Belgium and aims to expand into Europe in the longer term.
Pieter Aartsen, executive board member of BinckBank and CEO of Able: ‘Owing to the social pressure on banks’ and insurers’ revenue model and the increase in new regulations, financial institutions have an urgent need for automation solutions they can deploy to systematically reduce and more tightly control the costs of their processes and systems. What makes Able unique in this field is that if circumstances at a customer change, the service concept can also be switched to ensure that its services continue to closely match its customer’s need. Adding value for our partners is our mission.’

Bundling processing and software development, Able offers financial institutions the option to choose which product or service best matches their automation needs. Able provides both licensed software that a bank can use itself and BPO services. This is the other end of the spectrum, with Able taking on the full processes relating to investing and saving.

Able is also adding a new service concept, called Software as a Service (SaaS). With SaaS, both the hardware and the software are outsourced. The data centre, technical management of the platform, software development, test management and incident & issue management are provided by Able within the SaaS concept. Customers have scope for flexibility within this concept as they are able to set up and manage their own business processes. As a rule, this solution is 60% to 80% less expensive than customers’ in-house solutions.

More information: www.able.eu

About Able B.V.
Able is the specialist in the field of designing, developing and processing software platforms for investing and saving. Offering a high degree of automation at low prices, Able is the trusted partner of leading asset managers, banks, insurers and pension institutions. Able serves only licensed financial institutions and that focus has given it a leading position in the Netherlands. The high degree of customer satisfaction is due to its responsiveness to market trends, innovative solutions and the value it adds to partners’ propositions. This is achieved by an enthusiastic, committed workforce of over 200 professionals who make sure they deliver on their promises. This approach has resulted in a leading position in the Netherlands and the confidence to offer its products in Europe as well, with the ambition to become a leading player in its field. Able is an autonomous unit within BinckBank N.V. and originated from Syntel and BinckBank Professional Services.

About BinckBank N.V.
BinckBank is an online bank for investors, ranked in the top five in Europe. As an online broker, it offers its clients fast, low-cost access to all the important financial markets around the world. As an online bank for investors, BinckBank helps its clients look after their capital with BinckBank’s online asset management services and online savings. BinckBank offers its professional clients fast, low-cost order execution and administrative processing of securities and cash transactions, in the form of insourcing (client BPO) or licensing of the appropriate software. BinckBank is an independent online bank for investors, which is listed on Euronext Amsterdam. We have offices in the Netherlands, Belgium, France, Italy, and Spain. BinckBank has 611 FTEs at end of 2011. Our operations are split into two business units: Retail and Professional Services. BinckBank was formed in 2000 and has now more than 630,000 account holders.

Public Relations:
Harmen van der Schoor
t: +31 (0)20 522 03 78
e: hvdschoor@binck.nl

Investor Relations:
Nelleke Nederlof
t: +31 (0)20 522 03 72
e: nnederlof@binck.nl
Press releases of BinckBank N.V. can be found on www.binck.com