Bank SinoPac Goes Live on Avaloq Platform in Hong Kong

Bank SinoPac has gone live on Avaloq ’s wealth management platform in Hong Kong.

The Taiwanese lender now uses Avaloq as the core system for its offshore wealth management business in Hong Kong. The bank expects the platform to help it scale operations and introduce new offerings more efficiently.

Bank SinoPac’s Hong Kong wealth management business has grown steadily in recent years. Growth has been particularly strong among high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients.

The cross-border wealth management market continues to expand, while clients’ financial needs are becoming more complex. Bank SinoPac said it needed a core system that could support further growth.

With Avaloq’s integrated platform, Bank SinoPac expects to increase automation and streamline operations. It also expects the system to help it serve clients more efficiently and respond faster to changing market requirements.

Bank SinoPac joins fellow Taiwanese lender CTBC Bank, which completed its own Avaloq implementation for private banking in Hong Kong and Singapore in 2024.

“We selected Avaloq because we needed a proven, specialised platform that could support this next stage of development with greater efficiency, consistency and scalability,”

said Angus Lin, Head of Overseas Business Division, Bank SinoPac.

Lin cited the Swiss software provider’s reputation among financial institutions in Taiwan and across Asia as a key factor in the bank’s decision.

Vibhooti Chaturvedi “The market continues to play an important role for clients with cross-border needs, and financial institutions require technology that can help them operate more efficiently, respond faster and scale with confidence,”

said Vibhooti Chaturvedi, Managing Director for Region Asia Pacific, Avaloq.

Featured image credit: Edited by Fintech News Hong Kong, based on image by Who is Danny via Magnific

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