Hong Kong-based China CITIC Bank International (CNCBI) has selected Avaloq group’s Avaloq Banking Suite to grow its portfolio of private banking and retail wealth clients.
CNCBI executive director and alternate CEO Helen Kan said that the Avaloq Banking Suite will enable the bank to provide more comprehensive wealth management services to customers, enhancing its proposition to new customers and supporting market expansion.
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"The solution will be integral to a broad aspect of the business, and integrated with the bank’s processes from front to back office, resulting in greater cost efficiency, risk control capability and scalability," Kan added.
Avaloq general manager Asia Pacific Peter Scott said: "This partnership with China CITIC Bank International is highly strategic and important in supporting Avaloq’s expansion plans into the ‘on-shore’ wealth segment in the region.
"Our goal is the delivery of a highly differentiated proposition for the bank in support of their market expansion plans and we are delighted to welcome China CITIC Bank International to our growing Avaloq Community."
CNCBI, a wholly-owned subsidiary of China CITIC Bank Corporation (CNCB), provides a suite of financial services including corporate banking, personal banking, wealth management, treasury and global markets solutions.
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