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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.

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