Capital Union Bank taps Avaloq for new online banking platform
Bahamas-based Capital Union Bank has selected Avaloq’s Web Banking solution to power its new online banking platform and is set to upgrade its core banking system “with new modules and features based on joint innovation” with the vendor.
Capital Union Bank goes live with Avaloq’s online banking platform
Capital Union Bank provides execution, custody and lending services to institutional investors, financial intermediaries and ultra-high-net-worth individuals across the world.
The bank has now launched a new online banking platform leveraging Avaloq’s Web Banking tech, offering what it calls an “intuitive” interface for customers, real-time portfolio overviews and frequent communication between relationship managers and clients for faster approvals. It also offers customisable dashboards and over 100 self-service features including document management and digital signatures.
Patrick Zbinden, CEO at Capital Union Bank, says Avaloq’s Web Banking solution will enable its clients to have “even more control over their assets”.
Capital Union has been using the Avaloq Core Platform since 2014, and has now renewed the partnership to further enhance its core banking capabilities. The bank plans to integrate dedicated modules enabling “highly automated, robust” compliance processes including know your customer (KYC) checks and support for complex investment products such as over-the-counter forex and the bank’s new digital assets offering.
Avaloq also handles the bank’s back-office processes through its Banking Operations offering. Capital Union says the solution allows it to achieve straight-through processing (STP) rates of up to 99% and high service accuracy for payments, securities and fund processing.
