View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
December 19, 2013updated 04 Apr 2017 2:38pm

HSBC Private Bank selects Avaloq Banking Suite as global wealth management platform

The UK-based bank partners with integrated banking solutions provider Avaloq to deploy wealth management solutions across their global entities.

By Sruti Rao

The UK-based bank partners with integrated banking solutions provider Avaloq to deploy wealth management solutions across their global entities.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

In its first phase of rollouts, the Avaloq Banking Suite will be implemented across HSBC’s Private Banking businesses in Switzerland, Luxembourg, Monaco, Guernsey and Bermuda. The bank has further plans to deploy this platform accross their other global entities.

In commenting about the factors behind the bank’s decision to implement this solution suite, John Armstrong, chief operating officer, Global Private Banking at HSBC comments: "The functional richness and the international deployment capabilities are two of the main reasons why we decided to go with the Avaloq Banking Suite for our private banking business. Through the implementation of the Avaloq Banking Suite we will significantly improve our operational efficiency, levels and consistency of customer service, while also improving our cost structure."

With the Avaloq banking suite, HSBC hopes to simplify and centralise operations where necessary, for greater efficiency and shorter time to market of new products. In effect, the bank aims to provide a more seamless and coherent product and service offering to their clients.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International