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Bank of Singapore invests in tech to “cope” with swelling AUM, transaction...
Bank of Singapore’s assets under management (AUM) and transaction volumes jumped by 12.6% and 60% respectively in the first half of the year. Eddy Tai, the Singaporean private bank’s global head of...
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Six banks team up with UBS on blockchain project
Six global banks have joined hands to create a digital currency for clearing and settling financial transactions using blockchain technology. Barclays, Credit Suisse, Canadian Imperial Bank of...
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Singapore well positioned to “ride the AI wave”, says UBS WM’s Tracey Woon
Relative to its peers in Asia, Singapore is likely to see the fewest jobs losses stemming from the “artificial intelligence wave”, which is set to transform the financial services industry in coming...
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Cyber security spending to increase by 7.5% annually: Julius Baer
Due to the threat of costly cyber attacks, cyber security spending is projected to grow by 7.5% a year through 2020, according to a global report by Julius Baer. The cyber security business is...
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UBS WM to go live with global tech project in Hong Kong and Singapore next month
UBS Wealth Management plans to complete the Asian leg of its global tech project, One Wealth Management Platform (1WMP), in a matter of weeks, Asian Private Banker has learnt. UBS Wealth Management...
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Citi launches chatbot in Singapore, plans broader rollout in Asia
Citi has launched a natural language chatbot on Facebook Messenger for its clients in Singapore, the American lender said in a statement today, adding that it plans to roll the service out to clients...
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Wealthy investors “enthusiastic” about digital currencies, as SFC ups...
Wealthy investors are keen on digital currencies and are playing a “non-negligible” role in initial coin offerings (ICOs), according to Henri Arslanian, a member of the temporary board of the Fintech...
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Bond trading workflows still “very inefficient” at private banks, say...
The documentation trail of bond trading between a private bank’s execution desk and the relationship manager is still manual and “very inefficient” for both the banker and the end-client, external...
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Private banks grappling with data management issues as CRS looms
Data gaps and quality issues are among the many data management challenges that private banks are grappling with as they trawl through their internal systems in preparation for the Common Reporting...
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Hong Kong signs fintech agreement with Malaysia
Hong Kong’s Securities and Futures Commission (SFC) has entered into a fintech cooperation agreement with the Securities Commission Malaysia, the regulator said in a statement. The agreement is aimed...
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Hong Kong and Singapore to benefit from China’s tough stance on...
With cryptocurrencies garnering the attention of wealthy investors, regulators in Hong Kong and Singapore appear to be taking a more permissive approach to the emerging asset class compared with China...
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StanChart invests in data firm to “empower” the bank’s teams
Standard Chartered has made a “strategic investment” in data management firm Paxata to help the bank’s employees, including its private banking teams, to make sense of and manage data, according to...
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Singapore signs fintech agreement with Malaysia
The Monetary Authority of Singapore (MAS) has signed a fintech collaboration agreement with the Securities Commission Malaysia, the Singaporean central bank said in a statement. “The cooperation...
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Fintech firm WEALTH working with BoS, UBS and DBS PB; launches digital...
Singapore-based fintech firm WEALTH, which is backed by independent asset management (IAM) tech specialist Prive Holdings, now works with at least three private banks, while it has also rolled out a...
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Deutsche Bank CEO: Automation in banking will cause “a lot” of redundancies
Deutsche Bank CEO John Cryan believes that “a lot of people” in the banking industry are at risk of being made redundant as automation sweeps through the sector. “It’s difficult to say where the...
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DBS partners with government body for fintech training programme
DBS has partnered with a government body in Singapore to create a fintech training programme focused on “deep technology skills”. The Singaporean bank is working with the Infocomm Media Development...
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Australian regulator to set up “Chief Data Office”
The Australian Securities and Investments Commission’s (ASIC) data strategy for 2017-2020 includes plans to create a department dedicated to managing and analysing data. The regulator aims to...
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Tencent’s HK$372m investment in CICC to boost the bank’s wealth management drive
Tencent has paid US$372 million for a roughly 5% stake in China International Capital Corporation (CICC), in a deal that will help the bank to “provide more personalised and diversified wealth...
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MAS establishes international advisory panel on cyber security
The Monetary Authority of Singapore (MAS) has established a Cyber Security Advisory Panel (CSAP) comprised of experts in the field from around the globe, the regulator said in a statement. “As...
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CCB (Asia) and IBM team up for blockchain project
China Construction Bank (CCB) (Asia) and IBM are working on a blockchain-enabled bancassurance project in Hong Kong, according to a statement from the bank. Built on the IBM Blockchain Platform, the...
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