OneAston in Action

There is no substitute for Experience

Large local Hong Kong Bank automating its Private Banking Platform

As one of the largest local banks in Hong Kong, our client had recently established a private banking department and was experiencing very solid growth. There was a need to implement a modern private banking solution which could automate much of the front and middle office to ensure the system had the capacity to support the growth. Our client selected the Temenos Triple’A solution and the combination of this together with the OneAston OneStart configuration offered a platform on which these requirements could be met.

The bank had 9 in-house systems which were used by the retail and corporate business activities and wanted to use these to process and settle the investment products which would be offered by the Private Bank. The objective of the bank was to leverage these existing core systems to share operations and to ease the overall consolidation required for regulatory and management reporting. There was also a need to offer International Equities, however as this was currently not supported by the internal systems, these were processed by Triple’A, generating the necessary cash management and associated GL postings.

Triple’A and OneStart was implemented to provide order capture and STP processing through to the relevant in-house system. All investment data was stored in Triple’A which was then used to provide a consolidated client view, in addition to consolidated client statements and performance measurement, which were integrated into the bank’s client portal.

Client onboarding was implemented in Triple’A including the necessary HKMA client and risk classifications. This allowed the extensive pre-trade checking of OneStart to be implemented, including product suitability, cash/product availability

Credit Management and Monitoring was a key requirement and has been implemented to allow the Bank to effectively manage their leveraged portfolios, in addition to performing pre-trade collateral checking to control customers are not placing orders that exceed their approved limits.A workflow for voluntary corporate actions was required and hence the OneEvent module was deployed and integrated with Triple’A to effectively manage the process from notification, through to client election and position settlement.

The project was delivered over three phases with the first phase, encompassing back to front interfaces to the core systems and client statements, being put into production only 6 months after the commencement of the project. Progressive phases encompassed the STP data flows, credit processing and KYC enhancements.