Tuesday, July 23, 2024
23.6 C
New York

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.

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

Boku names former NatWest exec Rob Whittick as new CFO

Key Points:Company Background:Headquarters: London and San Francisco ...

CFPB proposes new rule to include payday advances under Truth in Lending Act

Key Points:Proposed Rule:Payday loan advances would be...

B2B paytech Slope lands $65m equity and debt funding led by JP Morgan

Key Points:Investment Details:Total Investment: $65 million Led...

US fintech Coast bags $40m Series B for product, partnership and team expansion

Key Points:Investment Details:Total Raised in Series B:...

Black Hills Federal Credit Union tasks NCR Atleos with ATM management in new agreement

Black Hills Federal Credit Union (BHFCU) Partners with NCR...

RTGS.global co-founder and CTO Andrew Smith announces departure

Andrew Smith to Depart RTGS.globalPosition: Co-founder and Chief...

Related Articles

Popular Categories