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Taiwan's CTBC Bank makes a significant step towards digital transformation to enhance private banking services across Asia.
Taiwan’s largest privately owned bank, CTBC Bank, has changed its banking operations in Singapore and Hong Kong by successfully implementing the Avaloq Core Platform. With this implementation, the software builds up using modern digital capabilities to enhance customer service and expand its global reach.
The Avaloq Core Platform is now ready to offer specialized private banking products and services flexibly across jurisdictions. The platform enhances operational efficiency and regulatory intimation by automating client relationship management, accounting, and compliance functions. This decision indicates CTBC’s commitment to giving customers advanced solutions while ensuring strict risk management procedures.
“Our new core platform supports us in further expanding our private banking offering and streamlining operations while ensuring compliance with regulations across different markets,” shared Freddie Chen, Head of International Private Banking at CTBC Bank, while emphasizing the platform’s impact.
Regional Director for North Asia at Avaloq, Eliza Chang, underscored the partnership's significance: "We feel proud to support CTBC Bank in its digital transformation journey within the dynamic private banking landscape of Hong Kong and Singapore."
Industry observers expect further advancements in private banking solutions utilizing Avaloq’s capabilities, strengthening its position as a leader in Asia's financial markets.
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