23.10.2023 CorporateCase studies
How VBS helps BIL focus on its core activities
Romain Reinhard, Head of Payments & Ancillary Services at Banque Internationale à Luxembourg (BIL), shares his experience and insights on working with Victor Buck Services after 15 years of collaboration.
In the ever-changing world of financial services, banking institutions are increasingly turning to outsourcing to optimize their operations and provide high-quality services to their customers. Banque Internationale à Luxembourg (BIL) is a striking example of this, having opted to outsource the printing and enveloping of their mail and the scanning of their TUPs (Universal Payment Vouchers). Romain Reinhard, Head of Payments & Ancillary Services, gives an insight into the reasons, benefits, and satisfaction resulting from this strategic decision.
BIL made the decision to outsource these critical activities at a time when it was at a technological crossroads. The renewal of machines, servers, and software licenses was imminent, requiring a considerable investment in terms of time, resources, and costs. In this context, establishing a business case was the cornerstone of the outsourcing decision, directing attention to Victor Buck Services (VBS). “We made a call for tenders to outsource our printing operations and VBS’ offer was the most attractive. Moreover, VBS was the only outsourcing partner able to digitize TUPs. They were already providing this service for other banks in Luxembourg, and the business case was largely positive.”
The key advantages of outsourcing are multiple and significant for BIL. « A primary benefit for BIL is that we no longer have to oversee technological monitoring and equipment maintenance. Additionally, the cost of a shared solution is inevitably lower. All this while benefiting from a high quality of service delivery including a precise commercial, financial, and technical follow-up. »
The quality of the operational service provided by VBS has been praised by BIL, with a minimal incident rate and exemplary responsiveness in the event of problems. This proactive collaboration is also reflected in the product evolution process, where BIL and VBS work closely together to meet changing market needs.
“The relationship between BIL and VBS is framed by impeccable customer support and follow-up. BIL maintains a relationship of trust, open to dialogue with all VBS people involved in the exchanges.” This close interaction translates into concrete results, where outsourced services have helped transform the way BIL manages its essential operations: printing, mailing, and scanning documents for its clients.This collaboration has enabled the bank to focus on its core activities while benefiting from increased efficiency, optimized costs, and a remarkable quality of service. The success of this initiative underscores the importance of careful vendor selection and a strong partner relationship to create lasting value.
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