An increase in private wealth in Taiwan, underpinned by the booming semiconductor market, has prompted private banks to scramble to meet the growing demand for first-rate onshore wealth management, spurring many to kick-start their digitalisation efforts or fall behind their peers. The TAIEX, the main index of Taiwan’s stock exchange, is up 42% YTD, outperforming the S&P 500’s 9.2% YTD […]

The post Taiwan private banks ramp up digital push amid chip-fuelled wealth boom appeared first on Asian Private Banker.

Asian Private Banker held the inaugural Taipei Global Wealth Summit this Tuesday, drawing more than 500 delegates for a day of high-level discussions on Taiwan’s fast-evolving financial landscape. In its inaugural edition, the summit comes at a time when Taiwan’s wealth management sector is undergoing a strategic transformation, supported by a wave of government reforms. It also coincides with a […]

The post APB debuts Taipei Global Wealth Summit amid AI-driven wealth surge appeared first on Asian Private Banker.

This is a sponsored advertorial from Avaloq. Regulatory reforms and solid economic fundamentals are driving a quiet transformation in Taiwan’s financial sector. The island’s push for more onshore wealth services is opening the door to high-quality advisory and investment offerings for local investors. Avaloq and NEC Taiwan explore this ongoing shift and its implications for Asia’s wealth management landscape. Taiwan […]

The post The shift to onshore: How Taiwan is transforming into a hub for private wealth management appeared first on Asian Private Banker.

An increasing number of Singapore’s private wealth investors are now either investing in crypto assets or would do so if offered by their financial provider. However, private banking participation remains low, with most transactions still occurring on exchanges. This is according to data gathered from Avaloq surveys conducted this year, including the Avaloq Wealth Insights Report 2025 published on Wednesday. […]

The post Singapore’s wealthy want crypto — so why are private banks missing out? appeared first on Asian Private Banker.

Taiwan’s Cathay United Bank (CUB) is leveraging the technology expertise of Avaloq to enhance operational efficiency and deliver tailored solutions to high-net-worth clients in its latest wealth push at the new asset management hub in Kaohsiung City. CUB is working closely with Avaloq to establish a new booking centre and operational base in Kaohsiung, aiming to deliver tailored private banking […]

The post Cathay United Bank taps Avaloq for Kaohsiung wealth push appeared first on Asian Private Banker.

Technology proliferation continues to obstruct the work of wealth managers in Hong Kong, a new industry report has found. Nearly half (47%) of wealth managers in Hong Kong identified difficulty in accessing existing client data as a strong or very strong barrier in their daily work, according to a recent survey by tech firm Avaloq. This is up slightly from […]

The post Tech sprawl plagues Hong Kong’s wealth managers – report appeared first on Asian Private Banker.

Asian Private Banker was proud to honour the winners of its 9th annual Technology Awards at a gala event in Hong Kong that celebrated the cutting-edge advancements of the tech vendors serving the region’s private banking and wealth communities. At a glittering awards ceremony at the city’s Mandarin Oriental hotel, big winners included EasyView (Tech House of the Year and […]

The post APB honours Technology Awards 2023 winners with gala event appeared first on Asian Private Banker.

This is a sponsored article from Avaloq. Roberto Vigano, chief banking operations officer at Avaloq, explains how financial institutions can optimise their back-office processes to enable innovation and support expansion into new client segments. The financial industry continues to face margin compression and increased competition, driving firms to enhance their efficiency, seek new revenue streams, and accelerate time-to-market for new […]

The post Here’s how to significantly reduce your back-office costs appeared first on Asian Private Banker.

Philippines universal bank Security Bank has contracted Avaloq to digitally transform its wealth management business. Under the agreement announced on Thursday, Security Bank will digitalise its wealth management business with the Avaloq Core Platform Automate and standardise workflows to offer a full spectrum of bespoke investment advisory services and products to high net worth and affluent clients. Security Bank will […]

The post Avaloq pushes further into Asia wealth space with new deal appeared first on Asian Private Banker.

The majority of wealth managers in Asia believe the technology they are using for work is outdated, new research has revealed. 56% of wealth professionals in Asia find the technology they use to be outdated, rising to 63% in Hong Kong and 59% in Singapore, according to an industry survey by wealth tech firm Avaloq. This number stands at just 37% […]

The post “Outdated”: Majority of Asia’s wealth professionals believe they are using dated technology appeared first on Asian Private Banker.

This is a sponsored article from Avaloq.   Author: Pascal Wengi, Managing Director for Asia Pacific, the Middle East & Africa (APAC & MEA) and member of the Group Executive Board at Avaloq As the third-wealthiest country, Japan is uniquely positioned in the world economy. Yet, despite its wealth, the Japanese population is known for being extremely risk-averse. This, combined […]

The post Building the digital capabilities to succeed in Japan’s wealth management sector appeared first on Asian Private Banker.

BlackRock has appointed Greater China and Singapore wealth heads, the firm said on Monday. Mandy Lui will join BlackRock as head of Greater China wealth in mid-August. Lui will be responsible for strengthening strategic relationships with distributors across Hong Kong, Taiwan and offshore China. Based in Hong Kong, she will provide insights to establish differentiated wealth solutions for clients, leveraging […]

The post BlackRock appoints Greater China, Singapore wealth heads appeared first on Asian Private Banker.

BlackRock and Avaloq have joined forces to bolster their investment technology solutions tailored for wealth managers and private banks. As part of the strategic partnership, BlackRock has decided to take an undisclosed minority stake in Avaloq, Asian Private Banker can exclusively reveal first. The deal will see Avaloq combining its core banking client relationship management and mobile banking services with […]

The post BlackRock, Avaloq partner to supercharge private banks with tech power appeared first on Asian Private Banker.

The wealth and asset management sectors have evolved faster than the much of the financial services industry over the past few years, with the pandemic hastening the adoption of new technology and innovation. The expertise and agility that comes from FinTech companies and private banks working together can deliver compelling offerings to clients, experts say. The increase of younger, more […]

The post Private banking fintech trends to watch in 2023 appeared first on Asian Private Banker.

Bank Negara Indonesia (BNI) is looking to improve the services it provides its wealth management clients by partnering with core banking software provider Avaloq, the lender announced on Thursday. The state-owned bank plans to digitalise key business processes in its wealth management division by migrating its systems to Avaloq Core, a digital platform for core banking operations that supports more […]

The post Avaloq scores new deal to upgrade Indonesian WM’s core banking software appeared first on Asian Private Banker.

Indonesia’s Bank Central Asia (BCA) has partnered with core banking software provider Avaloq to upgrade its wealth management technology and improve client engagement, according to a statement on Thursday. The bank plans to migrate its wealth management systems to Avaloq Core, a digital platform with core banking operations that supports more than US$4 tn in assets. “Our core banking software […]

The post Bank Central Asia engages Avaloq for WM transformation appeared first on Asian Private Banker.

Avaloq has made two appointments for the Australia market, Asian Private Banker can reveal. Alyssa Li joined the Swiss digital banking solutions provider earlier this month as Australia director, while Arnaldo Miranda joined in July as director, solution consulting, people familiar with the matter told APB. Both Li and Miranda report to Gery Dachlan, managing director for South Asia and […]

The post Avaloq makes two key hires in Australia appeared first on Asian Private Banker.

This is a sponsored article from Avaloq. Gery Zollinger, head of Data Science & Analytics at Avaloq, discusses the ethics of artificial intelligence in financial services. Artificial intelligence can generate real value for business by supporting targeted marketing and analytics, chatbots, and other important functions, but it can also produce biased decisions. AI systems that are trained with incomplete or […]

The post Delivering Ethical Outcomes in Finance with AI appeared first on Asian Private Banker.

This is a sponsored article from Avaloq. Pascal Wengi, Managing Director, North Asia at Avaloq The Greater Bay Area (GBA) – comprising nine cities in Guangdong’s Pearl River Delta plus Hong Kong and Macau – is an initiative by the Chinese government to better integrate trade and market dynamism, drive economic development and establish the region as a global hub […]

The post How to win and keep wealth clients in China’s Greater Bay Area? appeared first on Asian Private Banker.

Online trading of structured products is on the digital upgrade agenda of both HSBC Global Private Banking and UBS Global Wealth Management in 2022. For HSBC GPB, the capability is going live in a few weeks’ time, said John Plester, the bank’s regional head of transformation and innovation, Asia, in a webinar hosted by Asian Private Banker on Wednesday. Titled […]

The post HSBC GPB to launch online trading of structured products “in a few weeks” appeared first on Asian Private Banker.

Avaloq’s acquisition by NEC in late 2020 has not changed its business strategy of “following clients onshore” in Asia, said Pascal Wengi, managing director, North Asia for Avaloq. In the first year after the Swiss fintech was bought by the Japanese tech corporation, Avaloq made progress in expanding its client network in the region: Haitong International adopted Avaloq Wealth’s specialised […]

The post Avaloq still “follows clients onshore” in Asia after sale to NEC appeared first on Asian Private Banker.

Taipei Fubon Bank is partnering with Avaloq to build a wealth management platform for the Taiwan lender’s private banking business in Hong Kong, Singapore and onshore Taiwan. The platform will focus on key features in wealth management technology, including customer relationship management (CRM), know your customer (KYC), regulatory compliance and product management. In addition, it will incorporate a broad range […]

The post Taipei Fubon bank picks Avaloq to build WM platform for PB business appeared first on Asian Private Banker.

BDO Private Bank (BDO PB) believes that its deep local expertise and market knowledge is key to it competing with foreign players that are tapping into the burgeoning Philippines market. “What differentiates us from foreign players is we straddle both onshore and offshore markets. Our RMs are able to help clients to buy onshore and offshore investment products,” Albert S. […]

The post Deep local knowledge gives us edge over foreign rivals: BDO PB’s Albert Yeo appeared first on Asian Private Banker.

Taiwan’s CTBC Bank has struck a deal with Avaloq to adopt its core banking solution, starting with an implementation at its offices in Hong Kong and Singapore. According to a press release by Avaloq, CTBC will implement Avaloq’s core banking suite internationally, in a bid to upgrade the bank’s private banking platform. The decision to choose the Swiss fintech firm […]

The post CTBC Bank picks Avaloq Core with initial implementation in Hong Kong and Singapore appeared first on Asian Private Banker.

Hong Kong’s wealthy investors may be residing in a leading international financial centre, but they are least engaged with financial advisors and wealth planners compared to their counterparts in ten major financial markets in Europe and Asia. Core banking software provider Avaloq last week published research on Why do people invest?. It shows that only 8% of the surveyed Hong […]

The post Fewer Hong Kong wealthy investors than expected engage financial advisors appeared first on Asian Private Banker.

As private banking clients are becoming digitally more demanding, data analytics looks poised to be the “sweet spot” for private banks to level up their offering, provided that PBs effectively synergise tangible RM-client relationships with technology and take the RMs along the journey. This Tuesday, operational chiefs from major private banks in Asia gathered virtually for Asian Private Banker’s COOs […]

The post Synergising tangible relationships with data analytics will be key to success for PBs: COOLC appeared first on Asian Private Banker.

Over the coming months, Haitong International is to implement Avaloq Wealth’s specialised solutions for its Private Wealth Management operations in Hong Kong and Singapore, according to a press release from Avaloq. Launched in July 2020, the Avaloq Wealth platform aims to help banks and wealth managers to provide personalised investment advice and bespoke services to clients in a more timely […]

The post Haitong International uses Avaloq Wealth to accelerate PWM digitalisation appeared first on Asian Private Banker.

This is a sponsored article from Avaloq. Never have the stakes been higher in the world of wealth management. Banks that successfully embrace both today’s emergent technologies and the benefits of a phenomenon that Avaloq — the industry leader in financial software, services and digital technology — calls “the democratisation of wealth” will share in the profits of a market […]

The post Embracing the cloud to generate data-driven insights that exponentially enhance the client experience appeared first on Asian Private Banker.

Avaloq’s APAC head has resigned, Asian Private Banker has learned. The firm has now announced two APAC promotions. Imad Abou Haider, general manager, head of Asia Pacific, has left Avaloq to pursue new ventures, a spokesperson for Avaloq has confirmed. Haider joined the firm in August 2019. He headed Avaloq’s Asia business, providing core banking platforms and SaaS and BPaaS […]

The post Avaloq makes two senior appointments following departure of APAC head appeared first on Asian Private Banker.

Avaloq is partnering with Vontobel to offer tailored structured investment products to private clients in real-time on the Avaloq Wealth platform. Avaloq Wealth will be integrating Vontobel’s multi-issuer structured products platform deritrade® onto its solution. According to Vontobel’s website, deritrade® is an open-architecture marketplace which “connects buyers and sellers of custom-made financial products”. The new offering will first be made […]

The post Avaloq Wealth expands structured products offering with Vontobel’s platform partnership appeared first on Asian Private Banker.

The digital initiatives of private banks and wealth managers are converging. Key topics such as improving the client’s digital experience and enhancing relationship managers’ productivity will set the scene for the industry’s digital transformation for years to come. As the worst of the COVID-19 pandemic is likely behind us, PBs and WMs have embraced the fact that the digitalisation trend […]

The post Client experience and RM productivity will top PBs’ digital agendas for years to come appeared first on Asian Private Banker.

Avaloq Wednesday said its chief executive will step down following the acquisition of the Swiss core-banking technology company by NEC of Japan at the end of last year. CEO Juerg Hunziker will step down as CEO on 31 March 2021, the press release said. He joined Avaloq in 2016 and assumed the CEO role in 2018. He will focus on […]

The post Avaloq CEO to leave after sale to NEC appeared first on Asian Private Banker.

Private bank leaders have been vocal about the progress in integrating data analytics/machine learning into their business operations, but according to Avaloq, wealth managers typically unearth just a third of the treasures lying in their data. Anticipated efficiencies from adopting data analytics remain unrealised because of a serious “gap between wish and reality” in projects concerning “data science” – data […]

The post Wealth managers rarely take full advantage of AI, using only 35% of available data: Avaloq appeared first on Asian Private Banker.

Wealthtech provider Finantix has announced a strategic merger with InvestCloud to strengthen its Software-as-a-Service (SaaS) global wealth solutions platform. Finantix and Tegra118, a US-based wealth tech, will join InvestCloud, as part of the recapitalisation led by private equity houses Motive Partners and Clearlake Capital Group that valued InvestCloud at US$1 billion. Both Finantix and Tegra118 are portfolio businesses under Motive […]

The post Finantix becomes part of InvestCloud to boost SaaS wealth solutions platform appeared first on Asian Private Banker.

Data analytics and artificial intelligence hold the promise of enabling more personalised client services and creating greater efficiencies in the middle and back-office. Yet, in both client interactions and risk management decisions, the human touch will remain indispensable, according to The Front to Back Office Report 2020 published by Avaloq on Wednesday. The report found that while over half (53%) […]

The post Most investors unwilling to let go of human advisory: Avaloq appeared first on Asian Private Banker.

This is a sponsored article from Avaloq. Private banks and wealth managers are currently facing numerous challenges, but many of these can be summed up by the word ‘growth’. How best to grow in an increasingly competitive, cost-focused but still service-led market, in which digital technologies and data-driven business processes are creating new opportunities as well as fresh challenges? To […]

The post Democratising wealth management through powerful new technologies appeared first on Asian Private Banker.

Zurich-based Avaloq has rolled out the Avaloq Data Synthesiser, a solution that helps wealth managers and private banks develop and test new software with simulated client data. Avaloq Data Synthesiser derives information from real client data, but is free of client-identifying data. It creates a production-like, authentic environment and can be deployed in the Avaloq.one Ecosystem’s sandbox within a cloud-based […]

The post Avaloq introduces synthesised data solution for FIs to develop and test new software appeared first on Asian Private Banker.

Avaloq on Wednesday said it is launching a platform for advanced data science and artificial intelligence (AI) in wealth management. The tech firm said Avaloq Insight is a real-time data science cloud platform that will provide wealth managers and financial advisers with advanced levels of analytics. The platform is designed to help drive customer satisfaction and increase sales effectiveness based […]

The post Avaloq launches data science, AI platform for wealth management appeared first on Asian Private Banker.

Avaloq on Wednesday said it is partnering with Google Cloud to allow clients to use its banking software on the tech giant’s cloud services. “The financial services industry is undergoing rapid shifts, as banks seek to deliver strong, digital-first experiences to customers,” said Avanish Sahai, vice president for partnerships at Google Cloud in a press release issued by Avaloq. The […]

The post Avaloq, Google Cloud partner on solutions for banks, wealth managers appeared first on Asian Private Banker.

Avaloq on Friday said it has launched an environmental, social and governance (ESG) investment solution for banks and wealth managers that allows them to build tailor-made, personalised ESG-compliant portfolios for clients. The solution has been designed to help financial institutions capitalise on the significant market shift towards ESG investing, Avaloq said. It ensures compliance, for companies operating in the EU, […]

The post Avaloq launches ESG investment solution for banks and wealth managers appeared first on Asian Private Banker.

Quantifeed Thursday said it raised US$6 million in a series B+ round to allow it to continue growing in existing markets as well as tap new ones. The Hong Kong-based digital wealth management solutions provider said the round was led by asset manager Franklin Templeton. The fund raise will “accelerate Quantifeed’s expansion” into new markets such as the Greater Bay […]

The post Quantifeed raises US$6 million from Franklin Templeton in series B+ round appeared first on Asian Private Banker.

Temenos on Tuesday said Hong Kong-based virtual bank WeLab Bank uses its cloud-based platform to launch services to the public. WeLab Bank — which Temenos calls “Hong Kong’s first multi-cloud challenger bank” — uses the cloud-native Temenos Transact to provide a range of next generation digital services to customers on their mobile phones. The fully-digital bank reported 10,000 account openings […]

The post Hong Kong’s WeLab Bank uses Temenos platform appeared first on Asian Private Banker.

The acquisition of Zurich-based wealthtech Avaloq by Japanese firm NEC a week ago marked a milestone for both technology companies. Yet it left many with the burning question: Why now? Asian Private Banker has brought together the key events of the past few years, which culminated in the announcement of the CHF 2.05 billion deal. A CHF 1 billion valuation […]

The post The build-up to the NEC acquisition of Avaloq appeared first on Asian Private Banker.

Avaloq will be acquired by NEC Corporation, a Japanese IT and network technology firm in a deal estimated at CHF 2.05 billion and to be completed by April 2021. Currently, private equity firm Warburg Pincus holds 45% of the Zurich-based wealth tech’s shares. The balance is owned by its founders and employees. Upon completion, NEC will have a 100% stake in […]

The post NEC to acquire Avaloq in CHF 2.05bn deal appeared first on Asian Private Banker.

Avaloq has created a Global Business Consulting function and has hired a former banker to head the team, the Swiss fintech firm announced yesterday. According to the release, the Global Business Consulting team will operate under the global markets organisation of Avaloq and will offer banking and wealth management services to existing and prospective clients globally. The consulting services span […]

The post Avaloq adds consulting service to its offering, makes senior hire for new function appeared first on Asian Private Banker.

Avaloq, the Swiss-based wealth-tech vendor, has launched a digital wealth platform — Avaloq Wealth — to help banks and wealth managers to provide personalised investment advice and bespoke services to their clients in a more time and cost efficient manner. According to a news release, the new platform is available as a stand-alone solution, independent from Avaloq’s core banking software. […]

The post Avaloq launches digital platform to power wealth managers’ bespoke services appeared first on Asian Private Banker.

Avaloq has entered a strategic partnership with global outsourcing and digital solution provider Infosys with a view to expanding its global wealth management client network, starting from the APAC and EMEA regions. “The aim with Infosys is to provide new clients with a global leader as a source of project management, technical skills and scale,” an Avaloq spokesperson told Asian […]

The post Avaloq expands APAC and EMEA client network with Infosys strategic partnership appeared first on Asian Private Banker.

Avaloq is to offer the Bank of the Philippine Islands (BPI) its Software as a Service (SaaS) solution that supports multiple business units — from private banking to asset management and investment banking — on a single platform, with a view to shortening client turnaround time and boosting efficiency. Avaloq has already entered into partnerships with onshore banks in Thailand […]

The post Avaloq signs up its first bank in the Philippines appeared first on Asian Private Banker.

Deutsche Bank has extended its wealth management contract with cloud banking provider Avaloq in Asia and Europe until the end of 2028, according to a press release by Avaloq today. The contract covers Deutsche Bank’s wealth management businesses in six countries: Switzerland, Luxembourg, the UK, Saudi Arabia, Singapore and Hong Kong. The renewal of the contract means that Deutsche Bank […]

The post DB renews WM contract with Avaloq in six jurisdictions through 2028 appeared first on Asian Private Banker.

Core banking system developer Avaloq said its plan to reach net zero emission and use 100% renewable energy is on track and will be realised by 3Q20, according to a Wednesday press release. Launching its first corporate social responsibility (CSR) report, the Swiss-headquartered fintech has committed itself to several ESG (environmental, social, and governance) targets as part of its CSR […]

The post Avaloq to hit net zero emission target by 3Q20 appeared first on Asian Private Banker.

Imad Abou Haidar was named head of Asia for Avaloq in August 2019. The firm needs no introduction, but even so, it is taking concerted steps to remain one step ahead of a competitive field of firms that provide core digital solutions to private banks and wealth managers. As such, the Avaloq of yesteryear is very different from the Avaloq […]

The post Avaloq’s Asia head: We’ve moved away from ‘monolithic core engines’ to open technology, customisation, personalisation appeared first on Asian Private Banker.

Over the past five years, the private banking arm of Maybank has built a strong platform to drive growth through 2020 and beyond. Alvin Lee, Maybank’s head of group wealth management and head of community financial services Singapore, looked back at what has been achieved and shared with Asian Private Banker his ambitions for the bank. “Maybank Private has come […]

The post Alvin Lee: 2020 is critical for Maybank Private growth appeared first on Asian Private Banker.

In this four-part series, Asian Private Banker takes a look back at the major events that have shaped the competitive landscape for APAC wealth management in each quarter of 2019. Links to the other quarters: 1Q19 | 2Q19 | 3Q19 | 4Q19 October BNP Paribas announces strategic investment into Allfunds 21 Oct – BNP Paribas announced its intention to take […]

The post A year of handshakes, green lights, and ribbon-cutting: 4Q19 appeared first on Asian Private Banker.

DBS Wealth Management (WM) has extended its strategic partnership with Avaloq to develop the end-client experience, the two parties announced in a statement today. Having used Avaloq’s services since 2009, DBS WM is “delighted to strengthen [its] relationship” with the Swiss fintech to be able to deliver enhanced levels of personalised service, advisory and solutions. “DBS firmly believes in the […]

The post DBS WM extends partnership with Avaloq appeared first on Asian Private Banker.

Bank Mandiri — Indonesia’s largest lender in terms of assets — has selected Avaloq to support its wealth management division. The mandate gives the Swiss fintech company a stronger foothold in the Asia Pacific region while allowing Mandiri to “capitalise on market opportunities and the need for enhanced, digital-led service capabilities”, according to a statement released today. Mandiri currently depends on […]

The post Mandiri selects Avaloq to streamline wealth platform appeared first on Asian Private Banker.

Despite some ongoing trepidation, banks in Asia are increasingly warming to SaaS and BPaaS offerings, particularly when entering new markets given the time-to-market and cost benefits, according to Pascal Föhn, Avaloq group COO, who spoke to Asian Private Banker on the sidelines of the Avaloq Community Conference held in Singapore today. “We have interest from both new customers who still operate […]

The post Banks in Asia look to outsourcing to facilitate EM expansion: Avaloq appeared first on Asian Private Banker.

Avaloq has appointed a new head of Asia to ensure it continues capitalising on its “strong momentum in the region”, the software firm announced today. Effective October, Imad Abou Haidar will head Avaloq’s Asia business, providing core banking platforms and SaaS and BPaaS services to private banks and wealth managers in the region. Based in Singapore, he will report to Paco […]

The post Avaloq names new Asia head appeared first on Asian Private Banker.

As a demographic deficit approaches certain countries in Europe, Avaloq CEO Juerg Hunziker told Asian Private Banker that banks should democratise their wealth management services to secure the ability to make a profit. Amid private banks’ efforts to make their businesses more “future proof” — both Bank of Singapore and Maybank have launched digital upskilling programmes while Deutsche Bank optimised […]

The post PBs should democratise services, broaden clientele: Avaloq’s CEO appeared first on Asian Private Banker.

In light of thinning profit margins, private banks in Asia have been utilising technology to extend their services to the mass affluent segment, targeting future HNWIs and expanding revenue channels. According to a report by IBS Intelligence and Avaloq, private banks in Asia have been providing their advisory offerings to mass affluent clients — arguably an underserved but increasingly significant […]

The post Asia PBs target lower client segments with tech to prop revenues, gain loyalty appeared first on Asian Private Banker.

Avaloq is seeing increased interest in its outsourcing services from private banks in Asia, the firm’s CEO Jeurg Hunziker has told Asian Private Banker. Hunziker said that Avaloq’s Business Process as a Service (BPaaS) resonates with lenders looking to delegate back-office operations to a third-party specialist to “simplify their target operating model”. “Beyond BPaaS, we can also clearly see a higher […]

The post Asia PBs’ demand for BPaaS increases: Avaloq’s CEO appeared first on Asian Private Banker.

As Deutsche Bank Wealth Management continues to place Asia at the centre of its tech ambitions, Asian Private Banker sits down with Sandipan Ray, chief information officer, wealth management technology, APAC at Deutsche Bank, to discuss the private bank’s client onboarding improvements, new app developments, and its digital aspirations for the upcoming year. Sandipan, client onboarding is an important issue for Deutsche […]

The post Tech Talk: Sandipan Ray, CIO, wealth management technology APAC, Deutsche Bank appeared first on Asian Private Banker.

Accenture has announced it will acquire Orbium in a bid to enhance its private banking and wealth management offering and capitalise on the consultancy’s Avaloq-related capabilities. Pending customary closing conditions, Orbium — a management consultant and technology provider for the private banking industry — will fall under Accenture’s large network of consultants. The move comes amid a push by the region’s private […]

The post Accenture bolsters PB consultancy offering with Orbium acquisition appeared first on Asian Private Banker.

Avaloq has unveiled its latest offering — Avaloq One, a ‘web banking store’ that brings end-clients, fintechs, and private banks together, allowing for “seamless integration”, the core banking platform provider told Asian Private Banker on Tuesday at FinovateAsia, a financial innovation conference held at Hong Kong Fintech Week 2018. Avaloq is currently onboarding fintech companies to its new ecosystem, where private banks […]

The post Avaloq to launch ‘web banking store’ for PBs and end-clients appeared first on Asian Private Banker.

Banks should conduct “many experiments” during their digitalisation journeys, advises Juerg Hunziker, group CEO at Avaloq. At the 11th annual Avaloq Community Conference, Hunziker revealed that his clients are consistently demanding “instant gratification” — a notion unsurprisingly common in the digital age. However, he also highlighted that this demand is paradoxically fulfilled with long-term thinking. “Companies must first have a […]

The post Banks should “use many experiments” in tech development and deployment: Avaloq appeared first on Asian Private Banker.

Avaloq is aiming to change the way it delivers its services to banking and wealth management clients by establishing a ‘Swiss Banking Cloud’ in partnership with IBM. The platform provider said it engaged IBM to “accelerate the transformation of [the firm’s] IT operating model” and that it will leverage IBM’s private cloud infrastructure and expertise to streamline its operations. Avaloq […]

The post Avaloq and IBM to build “Swiss Banking Cloud” appeared first on Asian Private Banker.

Thai lender, Kasikornbank (KBank), has opted to use Avaloq’s core banking solution to bolster its private banking and wealth management business, the vendor announced today. KBank Private Banking will use the Avaloq Banking Suite solution to upgrade its customer service infrastructure in areas, including client relationship management and risk management as well as improve internal processes and operational outcomes. “It […]

The post Kasikornbank selects Avaloq to take its “private banking business forward” appeared first on Asian Private Banker.

Credit Suisse Private Banking is currently exploring the “bank-to-bank” or business process outsourcing (BPO) model in Asia, according to the Swiss major’s APAC COO, Christian Huber. “We already have this model [bank-to-bank model] in Switzerland and in Europe, where this industry is more advanced and we are starting to look at it in Asia but we are still [at] an early stage,” […]

The post Credit Suisse PB exploring “bank-to-bank” model in Asia appeared first on Asian Private Banker.

Two years after Deutsche Bank Wealth Management agreed to outsource its back offices to Avaloq Sourcing Asia Pacific (ASAP), the tech firm has added another private bank, Asian Private Banker can reveal. Recently established Bank of Asia plans to be up and running in the region as a digital bank using Avaloq’s BPO centre. The private bank has decided to […]

The post Avaloq’s BPO centre signs up another private bank in SG appeared first on Asian Private Banker.

Nearly four years after HSBC Private Banking signed an agreement with Avaloq to use its IT platform in branches around the world, the private bank is close to going live with the system in Asia. The British lender is working towards the launch of the Avaloq banking platform in Asia and other regions, having signed an agreement with the banking software […]

The post HSBC Private Banking to go live with core banking platform in Asia soon, sources say appeared first on Asian Private Banker.

After racing to set up centres in Hong Kong and Singapore, Chinese private banks have found themselves challenged by technology-related legacy issues. Tech vendors tell Asian Privatie Banker that for these banks to develop robust offshore businesses, they first need to work on their core banking platforms. Offshore strategy gains momentum 2017 is proving to be a momentous year for […]

The post When going offshore, Chinese private banks face platform pains appeared first on Asian Private Banker.

Greetings, Earlier this week, we released our first annual League Table for China’s private banking industry. The data is as timely as it is revealing, given that China’s domestic PB market celebrates its tenth anniversary this year.  Combined, China’s Top 10 private banks by AUM accounted for RMB 7.5 trillion in client assets at the end of 2016 (if you’re […]

The post Top Eight for Week 22 – 29 September 2017 appeared first on Asian Private Banker.

Avaloq has added two more private banks in Asia to its roster of customers, the core platform provider’s group CEO, Francisco Fernandez, tells Asian Private Banker in an exclusive interview. In addition, Fernandez discusses the success of the firm’s business process outsourcing (BPO) strategy, the need for private banks to overhaul their digital dialogues, and the firm’s strategy when it […]

The post Avaloq’s Fernandez on the firm’s new private banking customers in Asia, digital strategies in China and the BPO buzz appeared first on Asian Private Banker.

Yesterday, Indosuez Wealth Management confirmed that it has reached an agreement to buy Crédit Industriel et Commercial’s (CIC) private banking activities in Asia. As evidenced by recent acquisitions in the region, private banking mergers nowadays involve not only a marriage of two firms, but also a fusion of their respective technology systems. Asian Private Banker examines the intricacies of the […]

The post A tech take on Indosuez WM’s CIC PB deal appeared first on Asian Private Banker.

LGT’s Asia head of IT, who stepped into the role nearly two years ago, has decided to relocate back to Europe, Asian Private Banker has learnt. Markus Weidmann is moving to Europe and will transition out of his current role as head of IT for LGT’s operations in Asia. Asian Private Banker understands that Weidmann will stay with the bank […]

The post LGT’s Asia head of IT to relocate appeared first on Asian Private Banker.

Avaloq has completed its transaction whereby private equity firm Warburg Pincus acquires a 35% stake in the private banking solutions provider, Avaloq said today. “Under the partnership announced on 22 March 2017, Avaloq will be able to capitalise on Warburg Pincus’ expertise and network in the financial services and fintech sectors to accelerate the company’s long-term growth and value-creation strategy,” […]

The post Avaloq closes Warburg Pincus deal appeared first on Asian Private Banker.

Smaller private banks – which may otherwise struggle to stay afloat amid a rising regulatory burden and hefty upfront costs when installing front-to-back platforms – should consider outsourcing parts of their businesses to larger rivals, including UBS, the Swiss lender’s APAC president, Kathryn Shih, tells Asian Private Banker. “A possible alternative for smaller private banks to ride the tech wave […]

The post Smaller private banks can “rent a platform” to stay in business, says UBS’ Kathryn Shih appeared first on Asian Private Banker.

Two months ago, private banking software giant Avaloq agreed to sell 35% of its business to private equity firm Warburg Pincus, in a deal valued at over CHF 1 billion. In addition to providing the tech firm with capital for its next growth phase, how will the transaction affect Avaloq’s private banking solutions business in Asia? Asian Private Banker speaks […]

The post Avaloq’s founder & CEO: Warburg Pincus deal means access to top private banking management in Asia appeared first on Asian Private Banker.

Avaloq, the global fintech firm, has introduced an Australian retail superannuation functionality within BT Panorama, a platform offered by the BT Financial Group and targeted at independent wealth managers, advisors, accounts and private clients. BT Financial Group had previously relied upon multiple legacy systems to undertake administration functions. The new functionality, named Retail Superannuation Fund Administration, enables migration to a […]

The post Avaloq rolls out superannuation functionality with BT Financial Group appeared first on Asian Private Banker.

Now more than ever, Asia’s private banks are talking tech and taking on ambitious projects that involve cutting-edge technologies such as artificial intelligence, robo advisory, mobile apps and blockchain. But not all private banks and solutions providers have found success in 2016, and many initiatives have wilted under the pressure of testing market conditions, mounting costs and misdirection. Asian Private Banker picks its top five […]

The post Top five tech glitches of 2016 appeared first on Asian Private Banker.

HSBC Private Bank will go live with Avaloq including in Asia over the next 2-3 years, Asian Private Banker has learned. Having signed an agreement with the core operating provider in December 2013 to use its Avaloq Banking Suite, the bank has since confirmed that it will take up to three more years to go live. “And Asia will be part of the plan,” […]

The post HSBC PB goes live with Avaloq in Switzerland, but Asia will have to wait appeared first on Asian Private Banker.

It took UBS Wealth Management Australia and Crestone Wealth Management (WM) close to 12 months to transfer 70 relationship managers and A$14 billion (US$10.3 billion) in client assets – and this process was “no easy feat”, according to Crestone WM’s CEO and former head of wealth management Australia at UBS, Michael Chisholm, who speaks with Asian Private Banker. “We set ourselves […]

The post Crestone WM CEO says launch was “no easy feat” appeared first on Asian Private Banker.

Private banking core software provider, Avaloq, has set its sights on ASEAN-based private banks, with a number of lenders in the region looking to expand upon their retail offerings to cater HNWIs, the Group’s deputy CEO tells Asian Private Banker. “We are seeing a significant increase in interest from banks in Malaysia and Thailand who are looking to break into […]

The post Avaloq attracts interest from ASEAN, Chinese private banks appeared first on Asian Private Banker.

DBS is looking to roll out an artificial intelligence-driven tool for its retail and private banking clients in Singapore by the end of the year, and the application will mirror aspects of the bank’s recently launched “digibank” offering in India, says Olivier Crespin, DBS’ group head of digital bank. “We introduced a virtual assistant to help our customer base in […]

The post DBS to bring AI-driven tools to Singapore PB clients appeared first on Asian Private Banker.

Barclays’ wealth arm has signed an agreement with Indian IT outsourcing and consulting agency, Tech Mahindra, and its specialist banking and integration subsidiary, Sofgen, as part of the private bank’s overall tech revamp. Barclays Wealth, which had been operating on Avaloq’s Banking Suite for a number of years, as well as Charles River’s investment management platform, IMS, will now switch to […]

The post Barclays Wealth enters 10-year deal with Tech Mahindra appeared first on Asian Private Banker.

Union Bancaire Privée’s (UBP) integration with Coutts International – while smooth on the surface – has involved a “long-drawn” tech project due to differences in the two banks’ core operating systems, Asian Private Banker has learned. When UBP acquired the British bank’s international business late last year, the Swiss bank opted to stick with its incumbent core operating system in Asia, […]

The post UBP-Coutts integration in tech terms appeared first on Asian Private Banker.

The digitalisation dialogue is well underway on the Chinese Mainland, with private banks dedicating chunky budgets to ambitious blueprints. However, industry experts are less convinced that Chinese private banks are where they need to be. Describing the market as fragmented and straddled, with a number of players operating two different systems, those in the know tell Asian Private Banker that […]

The post One bank, two systems: the fragmented tech space in China appeared first on Asian Private Banker.

EFG International, currently in the throes of integrating recent acquisition, BSI, has faced questions on the purchase terms, client and relationship manager attrition rates and the 1MDB scandal; but what does the acquisition mean for EFG in tech terms? Temenos in, Avaloq out In May, EFG announced that it would stick with its current IT platform provider, Temenos post-acquisition. Going by industry standards, […]

The post The tech ABCs of EFG’s BSI acquisition appeared first on Asian Private Banker.

As part of the German lender’s plan to target clients with assets in the US$5 million to US$20 million range, Deutsche Bank Wealth Management seeks to hire 25 relationship managers (RMs) in Hong Kong. Competition among private banks in Asia is rife, Ravi Raju, Deutsche Bank Wealth Management Asia Pacific head, told attendees at a wealth management summit in Singapore. Accordingly, the German […]

The post Deutsche Bank requires 25 new RMs for HNW business appeared first on Asian Private Banker.

Facing squeezed margins and tough competition, RBC Wealth Management is looking to consolidate its platforms in Hong Kong and Singapore into a single platform, Asian Private Banker has learnt.  According to individuals who are close to the matter, RBC Wealth Management is doing this to increase efficiencies and slash operating costs. “The idea is to leverage Hong Kong’s brokerage model and Singapore’s private […]

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Gone are the days of desks stacked with young teleoperators, speaking politely to banking customers sitting kilometers away. Private banks are considering hanging up on the traditional business process outsourcing centres (BPOs) set up in the likes of Philippines and India, in favour of a more modern, technologically-advanced outfit closer to base. Asian Private Banker steps foot in one such […]

The post Meet Asia’s only BPO centre that’s dedicated to private banking appeared first on Asian Private Banker.

Maybank’s private banking arm has officially gone live with wealth management software provider Avaloq’s banking suite.  The deal involves the introduction of a fully integrated solution for the Maybank’s Singapore-based regional wealth management business, and is in line Maybank’s ongoing drive to expand its digital footprint in the region. Earlier this year, the Kuala Lumpur-based lender rolled out contactless wearable technology […]

The post Maybank Private Wealth goes live with Avaloq appeared first on Asian Private Banker.

Integration has proven a potent strategy for private banks to grow wallet share, and yet a number of crucial factors need to be considered for before making a final bid. According to one expert, the key to a smooth – and short – integration process is having in place sophisticated core banking solutions. “A well-managed integration project can take as […]

The post Sophisticated core banking solutions key to speedy private banking integrations appeared first on Asian Private Banker.

As is the case for all private banking mergers, EFG International has decided to stay on one IT platform following its acquisition of BSI from BTG Pactual, opting to continue with core operating software provider, Temenos. BSI Bank was using an Avaloq platform. This means that the migration of BSI’s data to EFG will take longer than if the two banks were […]

The post EFG to stick with Temenos post BSI merger appeared first on Asian Private Banker.

With Singaporean banks DBS and OCBC strongly rumoured to be slugging it out for Barclays’ Asia wealth unit, Asian Private Banker talks to experts on what the acquisition for either bank means in terms of technological infrastructure. In the event that DBS, the frontrunner for the acquisition based on industry whispers, does seal the deal, experts say that it would […]

The post Going techside on Barclays’ Asia wealth arm sale appeared first on Asian Private Banker.

Deutsche Bank Wealth Management (WM) has brought in a new Asia chief operating officer, while promoting the last one to a global role. Sudhir Nemali is the German lender’s new Asia COO, based in Singapore. He takes over from Venkatesh Narasiah, who will now be the global head of the WM operating model for the bank’s WM division. In this role, […]

The post Deutsche Bank WM reshuffles senior management in Asia appeared first on Asian Private Banker.

Two months after this publication reported that Deutsche Bank Wealth Management became the first private bank in Asia to outsource its back office operations to Avaloq, the latter has confirmed the successful operation. The new BPO (business process outsoucing) centre which is a wholly-owned subsidiary of the Avaloq group, Avaloq Sourcing Asia Pacific (ASAP), is providing Deutsche Bank WM back […]

The post Deutsche Bank WM officially live on Avaloq’s BPO centre appeared first on Asian Private Banker.

The private bank which was to have been the pilot buy-side institution for technology consortium LAND, has pulled the plug on the initiative, Asian Private Banker has learnt. Consequently, the project may not go live this year as planned, say insider sources. Leonteq, Avaloq, Numerix and DBS Bank joined hands to form LAND in March 2015, under the name Investment Products Distribution […]

The post Structured product platform LAND may be grounded appeared first on Asian Private Banker.

In a bid to expand its structured product offering, Malaysian lender Maybank has announced a partnership with technology firm and structured product distribution provider Leonteq. Leonteq wil support Maybank in the origination and lifecycle management of structured investment products along the entire value chain. It will provide the automated platform for the Malaysian lender, with the first products made available […]

The post Maybank signs with Leonteq for structured product distribution appeared first on Asian Private Banker.

Crestone Wealth Management, the new financial advisory firm that spun out of UBS Wealth Management Australia’s business, has officially signed on with Avaloq’s Banking Suite. Crestone will introduce the system as its fully integrated back, middle and front office banking functionalities, combined with customised business solutions as the IT backbone of the company. “Strategic partnerships such as the one we […]

The post UBS WM Australia spinoff signs on with Avaloq appeared first on Asian Private Banker.

Fourteen months after signing with Avaloq Sourcing Asia Pacific, Deutsche Asset & Wealth Management (AWM) has gone live with the business process outsourcing centre in Hong Kong and Singapore. When contacted, spokespersons from Avaloq and Deutsche AWM declined to comment on the recent integration. The project, which involves Avaloq Sourcing Asia Pacific, a subsidiary of Avaloq Group, supplying back office services […]

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