Security Bank selects Avaloq to digitise wealth management business
Security Bank, a private universal bank based in Makati in the Philippines, has partnered with Swiss banking software provider Avaloq to digitise its wealth management business.
Avaloq to power Security Bank’s wealth management business
The bank will leverage the Avaloq Core platform to power the release of “a full spectrum of bespoke investment advisory services and products” through its wealth management offering, serving “high net worth and affluent clients” specifically.
It has also tapped the vendor for its Relationship Manager (RM) Workplace solution which, applied to its front office, is expected to enhance productivity and client insight for the bank’s relationship managers, while also expanding its offering into “tailored investment advisory services”.
Reflecting on the partnership, Arnold Bengco, financial markets head at Security Bank, says that with Avaloq’s “acute focus to deliver tailored solutions”, he expects the new platform to “attract incremental investment AUM and help deepen customer relationships with our bank”.
Lucose Eralil, EVP head of enterprise technology and operations at Security Bank, adds that Avaloq’s tech will enable the bank to “further expand our wealth management business to help individuals and businesses in the region grow and preserve their wealth”.
The bank’s latest agreement with Avaloq builds on the previous deal it struck with ACI Worldwide in March last year to leverage the software firm’s enterprise payments platform to modernise its payments infrastructure.
