Insurance group Ageas Hong Kong will use Verizon's enterprise cloud to operate its wealth management trading platform i-Invest.
Under the deal, Verizon Enterprise Solutions will host and manage the IT infrastructure to operate the platform from its Hong Kong data center.
Verizon will also provide managed services including a dedicated service management team.
The US-based telecom giant launched a suite of new and expanded cloud services in Hong Kong in March to help meet growing demand for enterprise-grade cloud capabilities in the market.
Ageas' Hong Kong CIO Henk ten Bos said the project is designed to help address the transformational changes taking place in the financial services industry.
“Innovation, innovation and more innovation — our industry demands it and IT must be able to push boundaries to generate real business results and not just operational efficiencies,” he said.
“It’s all about identifying new product solutions and empower our intermediaries to serve their customer better — particularly important in a competitive financial services sector where we are constantly challenged by competitors, changing regulations and changing market environment.”
Ageas' i-Invest platform was developed to provide customers and agents with investment instruments including mutual funds and bonds. It supports multiple languages, currencies and account set-up structures.