Bank SinoPac Goes Live on Avaloq to Scale Wealth Management in Hong Kong

Bank SinoPac has successfully deployed the Avaloq platform to anchor its offshore wealth management operations in Hong Kong. This implementation provides the Taiwan-based institution with a scalable core system to manage increasingly complex cross-border wealth structures, enabling more efficient servicing of high-net-worth and ultra-high-net-worth clients in a competitive regional market.

What was announced

Bank SinoPac, a subsidiary of Taiwan-based SinoPac Financial Holdings Company Ltd., has completed the implementation of the Avaloq platform to serve as the technological foundation for its Hong Kong-based offshore wealth management business. The move addresses the bank's need for a scalable operating model as its client base of high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals continues to grow and their financial requirements become more sophisticated.

By integrating Avaloq’s wealth management platform, Bank SinoPac aims to achieve higher levels of automation and operational efficiency. The system is designed to handle the complexities of cross-border wealth management, allowing the bank to bring new offerings to market more rapidly. The platform serves as a core system that supports the bank’s ability to adapt to changing market requirements while maintaining service consistency for its HNW and UHNW segments.

The deployment marks a significant milestone in Bank SinoPac’s regional expansion strategy. As wealth structures in the Asia-Pacific region become more intricate, the bank is utilizing the platform’s integrated capabilities to provide a more robust foundation for its offshore services. This transition ensures that the bank can manage its expanding volume of business in Hong Kong without compromising the specialized servicing required for its most affluent clients.

"Our wealth management business in Hong Kong has expanded significantly, particularly among high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients with increasingly diverse needs. We selected Avaloq because we needed a proven, specialized platform that could support this next stage of development with greater efficiency, consistency and scalability. Avaloq’s strong reputation among leading financial institutions in Taiwan and across Asia, together with its proven track record in wealth management, was a key factor in our selection. With Avaloq, we are better positioned to broaden our offering and continue delivering the high level of service our clients expect."

Angus Lin, Head of Overseas Business Division of Bank SinoPac.

The companies involved

Avaloq is a global provider of wealth management technology and services, currently operating as a subsidiary of the Japanese technology giant NEC Corporation. The company specializes in providing core banking software and digital storefronts for private banks and wealth managers. With a significant footprint in the Asia-Pacific region and Europe, Avaloq’s systems are designed to manage the entire wealth management lifecycle, from client onboarding to portfolio management and reporting.

Bank SinoPac is the banking arm of SinoPac Financial Holdings Company Ltd., a major Taiwan-based financial group. The parent company, SinoPac Financial Holdings, maintains a diverse portfolio of financial services through its various subsidiaries, which include banking, securities, asset management, leasing, and venture capital. Bank SinoPac itself has been expanding its international presence, particularly in key financial hubs like Hong Kong, to capture the growing demand for cross-border financial services among Asian investors. The bank’s focus on the HNW and UHNW segments in Hong Kong reflects its broader strategy to capitalize on the increasing concentration of wealth in the Greater China region.

What FF News has reported before

FF News has followed Avaloq’s expansion across global wealth hubs closely. Recently, the publication covered how InvestGB Partners with Avaloq for First Major Wealth Tech Transformation in Kuwait, highlighting the vendor's reach into the Middle East. This followed a major regional milestone where DBS and Avaloq Target SGD 1 Trillion Wealth Goal with Expanded Asia Partnership, underscoring Avaloq's role in supporting Tier-1 Asian banks.

In Europe, FF News reported that CA next bank Becomes First in Switzerland to Launch Avaloq’s New SaaS Mobile Banking App, demonstrating the platform’s evolution into software-as-a-service (SaaS) delivery models. Additionally, the vendor’s activity in the UAE was noted when Emirates Investment Bank Partners with Avaloq to Modernize its Wealth and Investment Management Operations in Dubai.

What this means

This implementation highlights the intensifying technology arms race in the Hong Kong wealth management sector. As HNW and UHNW clients demand more sophisticated cross-border services, regional players like Bank SinoPac are under pressure to match the digital capabilities of global giants. By moving to a specialized core system, the bank acknowledges that legacy infrastructure can no longer support the complexity of modern wealth structures. For the industry, this move suggests that internal systems are being phased out in favor of standardized, scalable platforms that handle rapid regulatory and market shifts. The question remains how quickly other regional banks will follow suit to avoid being left behind in the race for offshore assets.