Recognized for its satisfied high-net-worth clients, the bank has turned to a new wealth management platform to augment its achievements.
Security Bank in the Philippines’ is a private universal bank, providing bespoke financing, leasing, foreign exchange, stock brokerage, investment banking, and asset management services.
To address the growing demand for bespoke wealth management services, the bank embarked on digitalization, optimizing its front office, and creating a stable, reliable operational foundation for the long term. Additionally, its new wealth management platform will automate and standardize workflows and enable the bank to offer a full spectrum of bespoke investment advisory services and products for its high net worth and affluent clients.
The platform offers high straight-through processing (STP) and service-accuracy rates for payments, securities and fund processing, improving operational efficiency and allowing teams to focus more resources on providing personalized service, creating new innovative offerings, and expanding into new markets and client segments.
In addition, the bank’s relationship managers can now command a complete overview of client profiles and portfolios to carry out more targeted communication and simpler transaction management to foster closer client relationships. They will be able to offer tailored investment advisory services to a larger, more diverse client base.
Said the bank’s Financial Markets Head, Arnold Bengco: “We continue to innovate our financial markets products to meet the evolving needs of our clients. With this acute focus to deliver tailored solutions and distinct service, we’re confident our new platform will attract incremental investment AUM and help deepen customer relationships.”
The specialized wealth management platform adopted by the bank is from Avaloq, whose managing director (for the Asia Pacific, the Middle East and Africa), Pascal Wengi, said: “By automating end-to-end processes, from order entry to reporting, (our platform) will provide the operational foundation for the future growth and success of the bank’s wealth management business… and empower the bank’s relationship managers, helping them to build lasting relationships with their clients. We are proud to work closely with Security Bank to support the growth of the Philippines’ wealth management sector.”
