Case Study


According to the 2017 Hong Kong Private Wealth Management Report, total AUM in Hong Kong was estimated to be over US$800 billion and is forecasted to grow as additional wealth is brought in from Greater China. As such, the Hong Kong market provides Wealth Management Institutions with ample opportunities to establish themselves as industry leaders. This was the case for CIB which chose Avaloq to be its Private Banking front-to-back platform of choice and Orbium as the implementation partner to support the creation of its Private Banking business in Hong Kong.

Orbium had the privilege of being responsible for the end-to-end solution design and implementation management where more than 20 Avaloq and Private Banking experienced Orbium consultants were engaged. Orbium could also leverage on its remote development and delivery teams.


With a time to market of six months, it was one of the fastest Avaloq projects ever implemented in the Asian market. The project was a greenfield project implying no data migration and minimal peripheral system integration. The objective was to leverage on Avaloq’s extensive wealth management offerings to provide a cutting-edge platform enabling the launch of CIB’s new Private Banking arm with a very short time to market.

The key success factors for this impressive achievement included:

Alignment & Commitment: A clear direction and a strong commitment from CIB’s senior management were crucial for this time driven project such that an early alignment on the project’s scope and principles was achieved. The Project team stressed the ‘must-have’ functionalities required for banking operations and adopted a strong adhesion approach to the Avaloq standard baseline. Availability of the key business users was also decisive.

ABR/S Baseline: Avaloq’s ‘Ready for Banking’ starter kit, offered a comprehensive set of pre-configured products and functionalities enabling a faster implementation without compromising on the offering. Together with a complete set of use cases, pre-defined functional test cases, the project lead time was significantly reduced. These factors were especially important in achieving quality results from testing.

Avaloq Platform & Local Market Expertise: Orbium’s project team seamlessly combined strong implementation experience with expertise on the Avaloq core banking platform. The team had deep knowledge on the specific needs of the Hong Kong Private Banking market in terms of products, services and regulatory requirements, enabling the solution delivered to be compliant with CIB’s business needs.

Project Methodology: Orbium’s proven implementation project methodology was key to success. Early and continuous involvement of business users, detailed planning, an iterative and collaborative approach, daily progress tracking and adjustment to changes enabled a smooth delivery, on time and on budget.

Close Team Collaboration: Establishing a trustworthy relationship and strong partnership with all stakeholders was critical to project success. To facilitate this, regular communication updates were planned to include all levels from team members to senior management. Transparency, a can-do attitude and continuous alignment of interests were highly beneficial in achieving a fruitful collaboration.


Delivery of a fully operational cutting-edge Private Banking platform powered by Avaloq supporting CIB’s growth plans by providing clients with a wide range of new products and services, all within a 6-month time period.


A rich scope of functionalities and products was delivered including end-to- end client onboarding, investment advisory, trading, portfolio management, investment suitability, financial accounting, client reporting as well as the regulatory and compliance requirements and related reporting. A full range of products such as Money Market, Equities, Bonds, Funds, Derivatives, Structured Products, Lombard Loans, Foreign Exchange products and options were part of the implementation.



* Abbreviations: ABR/S = Avaloq Banking Standards Starter Kit, AUM  = Assets under Management, CIB = Industrial Bank Co Ltd, UHNWI = Ultra High Net Worth Individuals