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Five years on, Asia’s private banks and wealth managers are still wary of...
In July 2012, consulting firm Celent published a report highlighting the reluctance of wealth managers to outsource processes, largely due to privacy concerns. It noted, however, that in the wake of...
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Citi PB’s Bassam Salem: Digital has a role to play in cash management
While technology continues to infiltrate daily routines and tasks, its role in a “very high-touch and personal business such as private banking” remains limited, though it does have a role to play in...
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Two months removed, CS Invest sees “very good pickup”, according to Sitohang
Clients have reacted favourably to Credit Suisse Private Banking’s digital advisory platform, CS Invest, according to Helman Sitohang, Credit Suisse APAC’s CEO, who says that the younger generation...
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Asia fintech investments wane due to lack of “mega-deals”
Due to a paucity of “mega-deals”, investments into fintech companies in Asia declined in the first half of 2017, according to a KPMG report, which also shows that Hong Kong-based fintechs have played...
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Citi US draws inspiration from HK and SG wealth units for tech initiatives
While Citi’s home market tends to be a first adopter of new technologies, the American lender has a lot to learn from its Hong Kong and Singapore units when it comes to rolling out digital tools for...
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LGT inks partnership with regtech firm for Hong Kong, Singapore operations
LGT is revamping its regulatory reporting and risk management operations in Hong Kong and Singapore, according to a statement from regtech solutions firm Wolters Kluwer. The Liechtensteinian bank will...
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MAS’ Mohanty welcomes UK fintech education body
MAS’ chief fintech officer, Sopnendu Mohanty, has welcomed a decision by the Centre for Finance, Technology and Entrepreneurship (CFTE) to team up with the Singaporean regulator for the establishment...
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EAMs “rely too much on banks” and need to invest in tech: Singapore’s AIAM...
The president of the Association of Independent Asset Managers (AIAM) in Singapore, Steve Knabl, believes the external asset manager (EAM) industry is spending too little on technology and that firms...
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App Map update: Indosuez WM, Pictet WM latest PBs to launch digital offerings
Indosuez Wealth Management and Pictet Wealth Management are the latest private banks in the region to roll out apps for their clients this year, making them the newest additions to Asian Private...
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Farringdon AM says a third of revenues will come from ultra-wealthy clients...
Singapore-based Farringdon Asset Management says it expects to generate a third of its revenues from ultra-wealthy clients following the launch of its private equity app. The external asset manager...
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Mid-sized private banks should house 100-150 robots: RPA expert
To operate efficiently, a medium-sized private bank should house an army of 100 to 150 ‘robots’, Ashwani Kohli, APAC head of technology firm UiPath, tells Asian Private Banker, adding that private...
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Banks should share information to tackle cyber risks: Deloitte
As financial institutions are “heavily influenced” by each other when it comes to cyber risk management, information sharing between all stakeholders is needed to ensure a resilient cyber ecosystem,...
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Lack of IT infrastructure a double-edged sword for private banks, says...
The fact that private banks tend to have less IT infrastructure relative to retail banks and insurers “can be a positive and a negative”, according to Kevin Nixon, global & Asia Pacific leader at...
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VP Bank inches closer to launch of digital portal for clients
VP Bank has reiterated its commitment to digitisation with the relaunch of its website and an expansion of its online services, according to a press release from the bank. The Liechtensteinian private...
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DBS allocates S$20 million towards “grooming a generation of digital bankers”
DBS will invest more than S$20 million over five years in a technology programme aimed at upskilling its 10,000 employees in Singapore, according to a statement from the bank. According to the...
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The innovation lab strategy leaves “many questions unanswered”
Private banks are yet to perfect a strategy aimed at fostering the growth of Asia’s fintech community – the housing of so-called ‘innovation labs’, Carey Kolaja, Citi Fintech’s US-based chief product...
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Former BoS tech head: Five roadblocks between fintechs and private banks
Vincent Caldeira, a former Bank of Singapore tech and strategic programme head, speaks to Asian Private Banker about five inefficient processes fintech companies must grapple with when working with...
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Automation to impact RMs in next 3-5 years: BoS’ Bahren Shaari
Automation and disruptive technologies will alter the nature of private banking jobs – including the way relationship managers (RMs) communicate with their clients – in the next three to five years,...
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StanChart makes “solid progress” on its US$250 million PB and WM tech project
Following a string of interruptions and senior management changes earlier this year, Standard Chartered has made “solid progress” on its widely anticipated US$250 million tech revamp project, called...
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Hong Kong’s SFC signs fintech agreement with Dubai
Hong Kong’s Securities and Futures Commission (SFC) has signed a cooperation agreement with the Dubai Financial Services Authority (DFSA), the SFC said in a statement today. The two jurisdictions will...
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