The agreement will see the Taiwanese bank implement Avaloq’s market-leading wealth management software across its private banking division in Taiwan, Hong Kong and Singapore.
Avaloq’s new client is one of Taiwan’s largest commercial banks with more than 150 branches throughout the country. Besides its home market, the bank also offers private banking services in Hong Kong and Singapore.
The new client is aiming to implement Avaloq’s award-winning wealth management solution in Singapore, Taiwan and Hong Kong. The Avaloq solution will give the bank a robust and scalable digital banking solution that will enable it to grow its private banking business in the different locations.
This latest client win underlines Avaloq’s strong momentum in the Asia-Pacific market; just a couple of months ago the company announced the Bank of the Philippine Islands as a new Software as a Service (SaaS) client, following several new regional clients and successful go-lives in previous years. Avaloq has already won seven awards and industry recognitions in 2020, including at the Asian Private Banker Technology Awards, WealthBriefing Asia Awards and at the Global Private Banking Innovation Awards for its outstanding work with a Hong Kong-based wealth management institution.
Imad Abou Haidar, Avaloq’s Head of Asia, said: “We are absolutely delighted to welcome the first Taiwanese client to the Avaloq Community. It is a privilege to enter this sophisticated market with such a strong and well-established partner on the ground. Our own local presence in Singapore, Hong Kong and Manila will help us to provide the bank and its clients throughout the region with an outstanding digital user and customer experience.”