The Agricultural Bank of China has implemented the Avaloq Banking Suite to assist the launch of its private banking business at its Hong Kong branch.
The major drivers behind the adoption of Avaloq Banking Suite by the Agricultural Bank of China are its functional richness, unique architecture and quick implementation time.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Additionally, Agricultural Bank of China’s Hong Kong branch is using Avaloq’s Model Bank Asia, which includes a series of local features including payment advices and bank statements in Chinese language.
Peter Scott, general manager Asia Pacific at Avaloq said: "Avaloq has invested in specialised product features for the Asian market that include support of specific structured investment products and credit related management capabilities."
Betty Ng, head of personal banking and product development, at Agricultural Bank of China Hong Kong branch, said: "In order to start up our private banking business in Hong Kong we looked for a partner that excels through long lasting experience and a market-proven solution. The comprehensive functional coverage of the Avaloq Banking Suite, and the fact that it offers advice and statements in Chinese were crucial factors in our decision making process."
Avaloq has been serving the Asia-Pacific region since 2007, when its regional headquarters opened in Singapore. The firm already serves 14 clients in the region, including DBS, Nomura, Barclays and Coutts.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
