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Avaloq, the Switzerland-based banking and wealth management technology firm which is being bought by Japan’s NEC, has chalked up a large client in Taiwan. The lender will implement Avaloq’s wealth management software across its private banking division in Taiwan, Hong Kong and Singapore.
The bank’s identity wasn’t disclosed in Avaloq’s statement about the matter.
Avaloq’s new client is one of “Taiwan’s largest commercial banks with more than 150 branches throughout the country.” Besides its home market, the bank also offers private banking services in Hong Kong and Singapore.
The firm said it has “strong momentum” in the Asian market. Earlier this year it said that the Bank of the Philippine Islands had become a new software as a service (SaaS) client, following several new regional clients and go-lives in previous years.