CTBC Bank teams up with Avaloq to boost private banking platform

The private bank will implement Avaloq’s core banking solution internationally.

Taiwan’s CTBC Bank has partnered with a digital banking solutions expert, Avaloq, to upgrade its international private banking platform.

The agreement will see CTBC Bank implement Avaloq’s core banking solution internationally, starting from its business units in Hong Kong and Singapore.

CTBC Bank selected Avaloq’s core banking software, Avaloq Core, due to its comprehensive product coverage, strong straight-through processing capabilities, and hardware-enforced security policies that ensure banking resilience. As CTBC Bank operates across several Asian markets, Avaloq Core will also provide the potential for the bank to consolidate its wealth management business, retail banking and other offerings within a single secure space, boosting the bank’s operational efficiency across the region.

“We chose Avaloq Core as we were impressed by the flexibility and capability of the product to meet the requirements of our distinguished clients. The platform’s simplicity and seamlessness will also aid us in our day-to-day operations, helping us to enhance and deliver quality private banking services. We look forward to working with Avaloq as we move to consolidate and upgrade our international business on the Avaloq Core platform,” Frank Shih, executive vice president at CTBC Bank said.