It seems that the first phase started in 2014 with the roll-out of Avaloq’s core across the banks in Switzerland, Luxembourg, Monaco, Guernsey and Bermuda, bankingtech.com reports.
HSBC Private Bank aims to replace disparate in-house solutions at each location with a standardised global platform.
HSBC Private Bank signed for Avaloq’s CRM, portfolio management, securities and payment processing, credit and financial accounting and reporting modules.
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