China Banking Corporation (China Bank) has deployed a new wealth management system developed by Sopra Banking Software to expand its private banking business.

The new system called, Sopra Banking for Wealth Management, will enable China Bank to streamline information across the private bank and will also enable the offsite centres of the bank’s Private Banking Group (PBG) to use the standardized platforms for faster product launches and implementation of third party products.

According to China Bank, the new wealth management solution will automate a large number of processes and calculations, and offer the bank with full 360-degree insight into its private banking customers, including the capability to simulate actions or model future behaviour.

Ricardo Chua, SEVP and chief operating officer of China Bank, said: "We are confident that with Sopra Banking Software, we can build a powerful, future-proof wealth management platform, and we look forward to a successful implementation."