DBS rolls out the Avaloq Banking System
ConvergenceAsia staff
28/08/2009

Singapore-based DBS, the biggest bank in Southeast Asia, has successfully rolled out the Avaloq Banking System for its Private Banking Unit in Hong Kong on 6 July. This is the first time that an Asian bank has opted for the “made in Switzerland" Avaloq Banking System.

DBS is deploying the fully-integrated Avaloq Banking System for its Private Banking Unit in Hong Kong, replacing a number of legacy systems and providing the bank with operational efficiencies from the front to the back office. By rolling out the Avaloq Banking System, DBS can offer their customers even better service, boost its internal efficiency and gain a competitive edge on the banking market.

Amy Yip, CEO of DBS (Hong Kong) and Head of DBS Wealth Management Group said, “We have evaluated various options that are used by many global financial institutions and have chosen Avaloq for its relevant functionalities and scalable potentials for our private banking business.”

This system, she said, “has the flexibility of customising for local needs, and yet at the same time allow us to standardise our processes across several locations in the region. The Avaloq system is thus a compelling system to partner DBS as we grow and strengthen our private banking business in Asia”.

Avaloq is the Swiss market leader for standard banking software. It has its head office in Zurich and branch offices in Luxembourg and Singapore, from where 25 in-house staff and an "implementation force" consisting of more than a hundred Avaloq specialists and partners are responsible for serving the Asian market.

advertisement