SNS Bank has outlines its intention to outsource both the execution and administration of its security transactions to BinckBank.

Once an agreement has been reached, outsourcing is expected to be finalised early in 2011.

Under the agreement BinckBank would takeover SNS Bank’s total security-related process for both its investment fund and stock exchange investments.

“SNS Bank aims to be the best in selection, servicing and distribution for both investment fund investors and independent investors,” said Henk Kroeze, chairman of the board of directors of SNS Bank.

“Outsourcing the process that extends from transaction to administrative processing to BinckBank fits in with this strategy.”