PH’s Security Bank digitising its wealth management platform

The bank has partnered with Avaloq to automate and standardize the WM workflows.

Philippine-based private leander Security Bank has partnered with wealth management tech and software provider Avaloq to digitise its wealth management business.

The bank has seen its wealth management assets under management grow by a CAGR of 44% since 2017, and has expanded its client base by a CAGR of 40% over the same period. 

To address the growing demand for bespoke wealth management services, Security Bank said that it partnered with Avaloq to drive the digitalization of the bank, optimize its front office, and create a solid operational foundation for its continued growth over the long term. 

The bank’s new wealth management platform is expected to automate and standardize workflows and enable Security Bank to offer a full spectrum of bespoke investment advisory services and products for its high net worth and affluent clients.

Security Bank’s relationship managers are expected to make use of Avaloq’s RM workplace solution, giving them a complete overview of clients’ profiles and portfolios and ensuring more targeted communication and simpler transaction management to boost productivity.