Swisscom snaps up Entris Operations in banking push

Swisscom snaps up Entris Operations in banking push

Summary: The telco's outsourcing subsidiary has made another acquisition in an effort to better target the financial services sector.

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TOPICS: Banking, Outsourcing, EU
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Swisscom's services arm has acquired Entris Operatioans as part of an ongoing effort to increase its share of the banking IT market.

After buying Entris Banking's outsourcing arm earlier this year, Swisscom's IT Services subsidiary will now take over its payment processing arm, which handled CHF 35.2bn of transactions from around 50 banks last year.

Swisscom IT Services announced recently that it would be creating a new payment processing centre in an effort to take more business from the financial services sector. The company has set a target of upping its revenue from banking from its current level of CHF 270 million to CHF 400 million by 2017.

Swisscom will buy the company from its current owners RBA Holding and Berner Kantonalbank, and take on its 220-strong workforce.

The financial details of the deal, announced on Monday, were not disclosed. The deal is expected to close by the end of June.

Topics: Banking, Outsourcing, EU

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