Bank of Asia, a start-up digital bank in the British Virgin Islands focused on companies that have ties to Asia, has signed for the Avaloq Banking Suite core platform.
The system will be provided on a Software-as-a-Service basis out of Avaloq’s business process outsourcing (BPO) centre in Singapore, Avaloq Sourcing (Asia Pacific).
Bank of Asia is expected to be fully operational by end of this year. Its founder and chairman is Carson Wen, a Hong Kong based businessman and lawyer. He’s been working on this project since 2015.