Haitong International, a financial institution in Hong Kong, has chosen the Avaloq Wealth platform to help its wealth managers.

The Avaloq Wealth platform provides a microservice architecture to allow financial institutions to consistently scale the growth of their wealth management business. Haitong will use Avaloq Wealth and its solutions over the coming months for its private wealth management operations in Hong Kong and Singapore.

Austin Luo, Haitong International’s head of private wealth management, said: “As in most other similar industries, we are seeing a strong trend towards digitalisation in wealth management. We endeavour to help our clients optimise their portfolios by designing top-notch investment solutions for them. We look forward to the partnership with Avaloq to bring premium experience to our clients.”

Pascal Wengi, managing director for North Asia at Avaloq, added: “We are delighted to welcome Haitong International to the growing Avaloq Community. As a digital and core-agnostic platform, Avaloq Wealth is designed to seamlessly integrate into existing IT landscapes. It is therefore ideally suited to unleash the full growth potential of Haitong International’s Private Wealth Management business.”

A number of FIs have turned to Avaloq and Avaloq Wealth in recent months. Vontobel will connect its structured products platform deritrade to the Avaloq Wealth platform.

The goal is to give Avaloq clients a direct, automated means of offering individual investment solutions.

Avaloq and Vontobel formed a partnership to combine a fully automated client advisory and wealth management process with a multi-product marketplace on a single integrated platform for the first time.

In addition, Crypto Finance Group implemented its brokerage solution for crypto assets with some Avaloq banking clients.

Financial institutions and their clients can now initiate crypto asset trading, settlement, and storage with automated, real-time reconciliation.

Furthermore, Avaloq and Crypto Finance are attempting to power financial institutions in offering a seamless digital experience.