HSBC Selects Avaloq for Private Banking Business

HSBC building
HSBC PB is to deploy the Avaloq Banking Suite across its global private banking business.

HSBC has announced it will deploy Avaloq Banking Suite across its global private banking business.

The software implementation is designed to simplify and standardize processes on a global scale, centralizing HSBC's private banking operations while assisting with regulatory compliance.

"Through the implementation of the Avaloq Banking Suite we will significantly improve our operational efficiency, levels and consistency of customer service, while also improving our cost structure," says John Armstrong, COO of Global Private Banking at HSBC "These are integral factors in ensuring that our private banking business maintains its high-quality standards, which are fundamental to an enriched private banking client experience."

The Avaloq Banking Suite will be implemented in Switzerland, Luxembourg, Monaco, Guernsey and Bermuda, before a wider implementation in other global locations.

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