With the support of a new wealth management system, developed by Sopra Banking Software, China Banking Corporation will update and modernise its private banking business for high-net-worth individuals.
Sopra, a French software and IT services company, has developed a platform which allows the offsite centres of the bank’s private banking group to launch products and implement third party products faster.
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The Henry Sy-led bank believes this new system would automate many processes and calculations. Moreover, it will give the bank full insight into its private banking customers, including the ability to predict the future behaviour of its clients.
China Bank said: "The Sopra Banking for wealth management will enable China Bank to streamline information across the private bank, from the front office where the customer-facing relationship managers require real-time data and information with a complete view of the clients’ portfolio, to the back office where transactions are consolidated efficiently with minimal human intervention
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