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PBs using MiFiD II-compliant digi-tools to reduce suitability stress
Private banks scrambling to adapt their compliance workflows to suitability requirements set by Hong Kong regulators are turning to tech tools originally designed to address the European Union’s...
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HKMA inks fintech collaboration with Dubai regulator
The Hong Kong Monetary Authority (HKMA) has announce yet another fintech collaboration agreement – this time with Dubai’s financial watchdog. HKMA’s newly inked agreement with the Dubai Financial...
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Lufax CEO: online wealth management to see exponential growth in next five years
Online wealth management is set to grow exponentially in the next five years, as artificial intelligence and big data redraw the battle lines in the financial industry through better transparency and...
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Credit Suisse takes 10% stake in Canopy
Credit Suisse has taken just over a 10% stake in Singapore-based fintech firm, Canopy, Asian Private Banker can reveal. The firm has also raised US$3.4 million from investors including Credit Suisse...
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Cyber risk top concern for financial services industry
A recent survey has revealed that the financial industry is becoming more aware about cybersecurity and the associated risks, with 78% of respondents citing cyber risk as one of their top five...
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Swiss vendor joins Contineo’s structured products consortium
Contineo, the Hong Kong-based structured products platform, has partnered up with a Swiss trading, transactions and payment vendor to roll out a lifecycle management tool for its private banking...
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Hong Kong, Singapore regulators sign 12 fintech collaboration agreements in 2017
Both Hong Kong and Singapore’s financial regulators have stated on multiple occasions throughout the year that inter-jurisdictional collaboration on fintech and digital innovation will only increase,...
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Tencent taps AI, biometric adoption in HNWI push
Licaitong, Tencent’s online wealth platform, is looking into implementing more exclusive technological innovations in the year ahead with plans to increase its wallet share of high-net-worth clients....
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DBS reduces RM market data costs by nearly 50% with FactSet tools
DBS Wealth Management (WM), including its private banking arm, has reduced its market data costs by as much as 50% this month through the use of FactSet’s market data solution, according to DBS WM’s...
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Do private banking apps need trading functionalities?
A growing number of private banks in the region believe that it is necessary for them to include trading functionalities in their mobile apps. Clients apparently demand it and the ability to trade...
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Ping An Private Bank hits strategy reset in 2018
Ping An Bank’s private banking arm is relaunching its strategy in the year of 2018 as the bank, under its leadership with dual responsibilities for the group’s securities brokerage arm, will look to...
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StanChart’s new tech-focused business unit to support private bank
Standard Chartered Private Bank continues to illustrate that “technology is at the heart” of its strategy, this time stating that it will work with the bank’s newly established business unit, SC...
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The Final Word: Technology
This piece is the fifth instalment of The Final Word series, where top private banking and wealth management heads share their views on industry trends in 2017 and the year to come. Today, the theme is...
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BNP Paribas WM to roll out four new digital tools in 2018
BNP Paribas Wealth Management is set to add to its digital toolkit for its clients by launching four new features in the coming months. The French private bank will “enrich” its digital portal,...
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Former additiv APAC head launches wealth consultancy with ASEAN focus
The former APAC general manager of Swiss-based digital solutions provider, additiv, has launched a new boutique consulting firm in Singapore, Asian Private Banker can confirm. Loïc Pitrou and a team...
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UBS WM’s Koh hints at new RM digi tools for 2018
Edmund Koh, UBS Wealth Management’s APAC head, has told Asian Private Banker that the private bank will roll out a number of key digital initiatives this year in Asia, primarily aimed at its client...
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HK, Australia fintech associations sign MoU to spur industry collaboration
The FinTech Association of Hong Kong (FTAHK) and FinTech Australia have signed a memorandum of understanding (MoU) today at the inauguration of the StartmeupHK Festival, signalling closer...
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Digital transformation a top business priority for global banks in 2018
The vast majority of global banks cite digital transformation as a key business priority for 2018, according to EY’s latest international banking survey. However, working relationships between banks,...
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Hong Kong needs the best of wealth tech to maintain edge: InvestHK
InvestHK’s head of fintech, Charles D’Haussy, has stressed the importance of leading wealth technology to Hong Kong if it is to maintain its leading position in private wealth management. Currently,...
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HKMA reviews guidelines on virtual banks
The Hong Kong Monetary Authority (HKMA) has reviewed and updated its guidelines on the authorisation of virtual banks for public consultation. In a press statement, the HKMA said it will continue to...
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