To stay ahead of the technology curve as the financial industry continues to digitalize in the pursuit of greater efficiency and innovation, UnionBank of the Philippines has partnered with digital banking solutions firm Avaloq to migrate its wealth management ( WM ) business platform into Avaloq’s core banking platform.

Avaloq’s platform will support UnionBank in offering its clients access to holistic WM services, such as family wealth structuring, philanthropy and sustainability advice, and professional succession planning.

The platform covers the needs of all WM client segments and is fully customizable, with dedicated modules for client lifecycle management, regulatory reporting, accounting and other key processes.

With the platform, UnionBank can seamlessly automate and standardize aspects of the front, middle, and back office of its WM functions, such as client relationship management, compliance, and payment processing.