Ongoing upgrades now boost the bank’s agility to cater to an international audience while personalizing client relationship management through data intelligence
One of the largest privately owned bank in Taiwan, CTBC Bank, operates 219 banking service outlets in 14 countries across Asia and North America. Continually aiming for further growth by enhancing its financial service offerings, the bank believes in investing in furthering its digital capabilities.
To optimize and automate its private-banking functions such as client relationship management, accounting and compliance, CTBC Bank has adopted a new platform that streamlines workflows across the front, middle and back offices, while consolidating systems into a single platform.
Regulatory checks are fully integrated into the new core platform (cloud-native Software-as-a-Service), which further strengthens the bank’s risk management capabilities as it moves to offer more sophisticated investment products and services across jurisdictions. More than 70 modules can be incorporated into the scalable platform to facilitate the bank’s client segments now and in the future, with an underlying unified data model the circumvents siloing. Cryptocurrency trading is also supported.
According to the bank’s Head of International Private Banking, Freddie Chen, the successful implementation of core platform in the Hong Kong and Singapore operations has significantly improved the ability to offer specialized private banking services. “Our new core platform supports us in further expanding our private banking offering and streamlining operations while ensuring compliance with regulations across different markets. Looking ahead, our clients can depend on our steadfast commitment to technological innovation, service quality and to building their wealth over generations.”
Said Eliza Chang, Regional Director (North Asia), Avaloq, the provider of the Business Process-as-a-Service wealth-tech solution: “The private banking sectors in Singapore and Hong Kong are currently undergoing a remarkable transformation, and we are proud to work closely with CTBC Bank to drive this change… to further extend its digital capabilities, optimize its processes, and create an exceptional banking experience for its private banking clients… We look forward to further strengthening our partnership over the long term.”
