The latest technology news in the wealth management sector from around the world.

Security Bank, Avaloq
Security Bank, based in the Philippines, has formed a new partnership with Avaloq, the provider of wealth management technology and software.

The Asian bank aims to digitalise its wealth management business with the Avaloq Core Platform and to roll out Avaloq’s Relationship Manager (RM) Workplace solution for its its front office. 

The bank provides bespoke financing, leasing, foreign exchange, stock brokerage, investment banking, and asset management services. Since it launched the wealth management business in 2017, its assets in this unit have grown by a compound annual rate of 44 per cent.

The bank’s new wealth management platform will automate and standardise workflows, Avaloq, which is headquartered in Switzerland, said in a statement. 

Earlier in February, Avaloq issued a report that found that most wealth managers are either dissatisfied with or indifferent to their technology systems, viewing them as outdated, not suited to their needs, and difficult to use.