The Avaloq group, an international leader in integrated and comprehensive banking solutions, will implement the Avaloq Banking Suite at China CITIC Bank International Limited (“CNCBI”).
The Hong Kong based bank has chosen the Avaloq Banking Suite based on its ability to provide a more comprehensive service, which will allow the bank to retain and grow its portfolio of private banking and retail wealth clients.
CNCBI is a full-service commercial bank which offers a comprehensive suite of financial services including corporate banking, personal banking, wealth management, treasury and global markets solutions.
CNCBI is an indirect wholly-owned subsidiary of China CITIC Bank Corporation Limited (“CNCB”), which is listed on both the Hong Kong and Shanghai stock exchanges. CNCB has a mainland Chinese network of 1,254 outlets which are strategically located in the economically fast growing eastern and coastal regions as well as in the key inner areas of the country.
Mrs. Helen Kan, Executive Director and Alternate Chief Executive Officer at CNCBI explains what led the bank to choosing Avaloq: “The Avaloq Banking Suite will allow CNCBI to provide more comprehensive wealth management services to customers, enhancing its proposition to new customers and supporting market expansion. The solution will be integral to a broad aspect of the business, and integrated with the bank‟s processes from front to back office, resulting in greater cost efficiency, risk control capability and scalability.”
Peter Scott, Avaloq‟s General Manger in Asia Pacific, says, “This partnership with China CITIC Bank International is highly strategic and important in supporting Avaloq‟s expansion plans into the „on-shore‟ wealth segment in the region. Our goal is the
delivery of a highly differentiated proposition for the bank in support of their market expansion plans and we are delighted to welcome China CITIC Bank International to our growing Avaloq Community.”
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