UnionBank backs Avaloq for wealth management core

UnionBank backs Avaloq for wealth management core

As part of ongoing digital transformation.

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UnionBank of the Philippines is deploying a core banking platform made by Avaloq in its wealth management business.

The vendor said the core system would allow UnionBank to support “holistic wealth management services, such as family wealth structuring, philanthropy and sustainability advice as well as professional succession planning.” 

It is intended to “automate and standardise aspects of the front, middle, and back-office wealth management functions, such as client relationship management, compliance, and payment processing,” the vendor added.

“We are confident that migrating our wealth management platform to Avaloq will help us remain at the cutting edge of digitalisation and innovation,” UnionBank’s global markets group SEVP and Treasurer & Center Head Jose Emmanuel “Toto” Hilado said.

Hilaldo added that the new wealth management core would improve UnionBank’s ability to “compete not only locally but globally in delivering world-class wealth management products and services to our customers.”  

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