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LGT picks Appway for client onboard to offboard processes
LGT has selected Appway, the Swiss-based fintech firm, to digitise its operational and client-facing processes globally. The Liechtenstein private bank said today that it will begin the first phase of...
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Asian Private Banker’s AppMap: The 2018 update
The first official update of Asian Private Banker’s AppMap – the region’s most comprehensive roundup of front-office digi tools deployed by the region’s wealth managers – reveals that banks remain...
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HKMA: 71 arrests made by fraud and AML task force
The anti-money laundering (AML) task force, formed by the Hong Kong Monetary Authority (HKMA) and the local police force, has made 71 arrests over a ten-month period and frozen some HK$2.8 million...
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New Wealth: Pre-meeting preference analysis improves client conversion rate
Client conversion rates have improved for private banks that have introduced a pre-meeting profiling solution, said Loïc Pitrou, CEO of Singapore wealth app provider New Wealth. On Monday, New Wealth...
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Singapore ties up with Vietnam on fintech innovation
The Monetary Authority of Singapore (MAS) and State Bank of Vietnam (SBV) signed a Memorandum of Understanding (MoU) yesterday, on enhancing cooperation on fintech innovation. The MoU facilitates...
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Leonteq expands to onshore Japan
Leonteq, the structured product-focused fintech firm, will open a new Tokyo office on 1 May as part of its Asia expansion strategy. Satoshi Kubo will lead the newly established office as CEO of...
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PBOC asks robo-advisors to disclose algorithm assumptions, asset allocation...
The People’s Bank of China (PBOC) has asked financial institutions using artificial intelligence (AI) to deliver investment advisory and asset management services to disclose key assumptions their...
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SFC tightens guidelines around use of instant messengers for investment orders
The Securities and Futures Commission (SFC) has issued a circular demanding that intermediaries maintain a “centralised record” while ensuring proper authentication when it comes to receiving client...
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MAS to expand AI and data analytics development programme
The Monetary Authority of Singapore (MAS) has announced a series of partnerships aimed at enhancing the artificial intelligence ecosystem in Singapore. In a release, the Singapore watchdog said it...
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PBs should focus on asset allocation maturity, not committed funding when...
Private banks looking to partner with a third-party robo advisor should pay close attention to their portfolio construction and advisory service requirements and not focus solely on funding received...
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Incoming EU data security rules to impact private banks in Asia
The General Data Protection Regulation (GDPR) regime that will come into force in Europe on 25 May this year will require private banks with a European presence to implement new data management...
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DBS exploring “digital ICs”
DBS is testing the water for ‘digital investment councillors (ICs)’ to assist private clients in utilising its digital investment and wealth management solutions, said the bank at the launch of its...
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Singapore’s MAS adds another fintech bridge
The Monetary Authority of Singapore (MAS) has extended its network of agreements with foreign jurisdictions, inking a fintech cooperation agreement with the Monetary Authority of Brunei Darussalam...
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Crossbridge aims to forge B2B partnership for digital platform
Singapore-based independent asset manager (IAM), Crossbridge Capital, is looking at establishing a new relationship with a “regulated financial company outside of Singapore” in the next couple of...
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Chinese digital WM market still has a long way to go: BCG and Lufax
China’s digital wealth management market still has huge room to develop despite the relatively high penetration of online distribution of wealth management products, according to a report co-released...
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CITIC aims to be go-to forex bank
China CITIC Bank is attempting to forge a new identity as the ‘go-to bank’ for high net worth clients’ foreign exchange needs, as the bank pushes for a series of product and technology upgrades that...
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PB COOs say innovation progress “on par” with rivals but lags tech giants
Private banking COOs and technology heads, for the most part, believe they are keeping up with their rivals in terms of the quality and speed of their tech programmes, but are under no illusion that...
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EM demand for simple private banking apps “not fully tapped”: New Wealth
The demand for simple digital applications from private banks is not being met, especially in the emerging ASEAN markets where investment product offerings tend to be basic, according to...
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Fosun-backed bond AI solution provider enters Australian market
Fosun-backed bond artificial intelligence solution provider, BondIT, has entered the Australian market by signing a deal with the country’s largest local fixed-income house, FIIG Securities. In an...
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HKMA sets HK$300m minimum paid-up capital requirement for virtual banks, says...
The Hong Kong Monetary Authority (HKMA) has confirmed the minimum paid-up capital requirement for virtual banks will be HK$300 million in its revised Guideline on Authorization of Virtual Banks,...
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