Search
AI

Security Bank, Avaloq collaborate to digitalise PH wealth management operations

by

Azunta Gaviola

-

3 months ago

Are you ready to unlock the secrets to skyrocketing your e-commerce business in the hearts of Southeast Asia’s e-commerce hub? The ‘E-Commerce Marketing Series 2024’ conferences are coming to Malaysia and the Philippines starting this July! Click here to find out more!

Zurich, Switzerland – Aiming to advance the digitalisation of the company’s wealth management operations in the country, Philippine-based Security Bank has recently teamed up with wealth management technology and software provider Avaloq. 

This strategic initiative will leverage Avaloq’s core platform and relationship manager workplace solution to address the company’s increasing need for customised wealth management services. 

Simultaneously, it further extends to enhancing its front office operations as well as establishing a strong operational foundation to support its long-term growth.

As a result, the company will be able to automate and standardise workflows, allowing them to provide more comprehensive investment advisory services and products for their high-net-worth clients. 

They can also achieve high straight-through processing and service accuracy rates for payments, securities, and fund processing, leading to enhanced operational efficiency. 

This efficiency will enable the bank to allocate more resources to personalised services, develop new innovative offerings, and expand into new markets and client segments. 

Additionally, the platform’s user-friendly solution will equip the bank’s relationship managers with comprehensive insights into client profiles and portfolios. This will facilitate more personalised communication and streamlined transaction management, improving productivity and nurturing stronger client relationships.

Commenting on the partnership, Arnold Bengco, financial markets head at Security Bank, said, “The bank’s strategic partnership with Avaloq will strengthen our wealth management capabilities even further. We continue to innovate our financial markets products to meet the evolving needs of our clients. With this acute focus to deliver tailored solutions and distinct BetterBanking service, we’re confident our new platform will attract incremental investment AUM and help deepen customer relationships with our bank.”

Lucose Eralil, executive vice president, head of enterprise technology and operations at Security Bank, also remarked, “This new partnership with Avaloq reflects our commitment to digitally transforming our bank to deliver exceptional value to our clients and stakeholders and to become the most customer-centric bank in the Philippines.”

“With Avaloq’s specialised wealth management platform and RM Workplace solution, we can further expand our wealth management business to help individuals and businesses in the region grow and preserve their wealth. I look forward to strengthening our partnership with Avaloq over the years to come,” Lucose added.

Meanwhile, Pascal Wengi, managing director for Asia-Pacific, the Middle East, and Africa at Avaloq, further stated, “We are firmly committed to supporting Security Bank on its digitalization journey across the front, middle, and back offices. By automating end-to-end processes, from order entry to reporting, the Avaloq Core Platform will provide the operational foundation for the future growth and success of the bank’s wealth management business.” 

“At the same time, our RM Workplace solution will empower the bank’s relationship managers, helping them to build lasting relationships with their clients. We are proud to work closely with Security Bank to support the growth of the Philippines’ wealth management sector,” concluded Pascal.

Discover the current trends in business communication based on over 473 billion interactions. Download the free report here to stay ahead of the curve in messaging trends!
Experience history at MARKETECH APAC’s ‘Marketing Technology Awards 2024! On November 28, live in Singapore, celebrate visionaries shaping Asia-Pacific’s marketing tech across 45 categories. Join us in honouring innovation and excellence! Click here to learn more.

 

Share

RECENT ARTICLES

Elitery to expand cloud expertise as Indonesia’s Google Cloud managed services provider
Mastercard enhances fraud detection capabilities with additional AI-powered security features
Vietnam’s PVcomBank unveils new mobile banking service using Temenos Digital on AWS
GreenNode to elevate artificial intelligence capabilities across APAC with Nvidia, global partners collaboration
FWD Group to bolster cloud tech capabilities with AWS partnership extension
Ellipse 3

RELATED ARTICLES

Mastercard enhances fraud detection capabilities with additional AI-powered security features (1)_11zon (1)
2_GreenNode to elevate artificial intelligence capabilities across APAC with Nvidia, global partners collaboration_11zon (3)
Microsoft to drive AI adoption amongst SMEs with launch of new partnerships, AI Pinnacle program second phase_11zon (1)
Ellipse 3

FEATURED ARTICLES

Mastercard enhances fraud detection capabilities with additional AI-powered security features (1)_11zon (1)
2_GreenNode to elevate artificial intelligence capabilities across APAC with Nvidia, global partners collaboration_11zon (3)
Microsoft to drive AI adoption amongst SMEs with launch of new partnerships, AI Pinnacle program second phase_11zon (1)

Subscribe to UpTech Media Newsletter

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.