CTBC Bank goes live with Avaloq core in Hong Kong and Singapore after three-year implementation

CTBC Bank Goes Live with Avaloq Core Platform: Key Points

1. Completion of Project:
   • CTBC Bank has completed a three-year implementation project to transform its private banking operations using Avaloq’s core banking platform.
   • The bank first announced its selection of Avaloq in September 2021 for its private banking businesses in Singapore and Hong Kong.
2. Benefits of Implementation:
   • The platform supports the expansion of CTBC’s private banking services and streamlines operations.
   • Ensures compliance with regulations across different markets.
   • Automates functions related to client relationship management, accounting, and compliance.
   • Streamlines front-to-back-office workflows.
   • Enhances risk management capabilities with integrated regulatory checks.
   • Facilitates offering more sophisticated investment products and services across jurisdictions.
3. Statements from Leadership:
   • Freddie Chen, head of international private banking at CTBC, highlights the platform’s role in improving their private banking services and operational efficiency.
4. Additional Digital Transformations:
   • In early 2023, CTBC Bank implemented Tata Consultancy Services (TCS) core banking system for a digital revamp of its retail banking, corporate banking, and wealth management services.
   • In May 2023, the bank partnered with Hitachi Asia to redesign its web interface and mobile banking app in the Philippines.