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UBS WM trialling AI
UBS Wealth Management (WM) is piloting a series of programmes that use artificial intelligence (AI) to help clients decide how to invest their money, according to the private bank’s chief investment...
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Surge in transaction-capable client apps will increase importance of...
A recent uptick in the number of private banks bringing trading functionality to their mobile and tablet apps will likely force the industry to step up client and investment suitability checks to...
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Regtech to the rescue
Banks will need to devote more time and resource to regtech solutions as regulators step up their scrutiny on how banks aggregate, store and analyse data, according to a report produced by financial...
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IAM to launch digital advisory platform in Singapore, targets US expats
Singapore-based independent asset manager, Crossbridge Capital, is partnering with two firms to roll out a digital advisory platform for its ultra high net worth investors – including US expatriates...
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Expect biometric budgets to soar, says expert
Private banks will need to increase their spend on biometric authentication solutions to allay concerns over the security of client-facing digital tools, says Sherie Ng, managing director, strategic...
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Citi launches wealth management tool in South Korea
Citi’s automated advice tool, Total Wealth Advisor (TWA), has been rolled out in South Korea, two months after it was first launched in Singapore. The American lender’s South Korea unit now has access...
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DBS to bring AI-driven tools to Singapore PB clients
DBS is looking to roll out an artificial intelligence-driven tool for its retail and private banking clients in Singapore by the end of the year, and the application will mirror aspects of the bank’s...
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Avaloq attracts interest from ASEAN, Chinese private banks
Private banking core software provider, Avaloq, has set its sights on ASEAN-based private banks, with a number of lenders in the region looking to expand upon their retail offerings to cater HNWIs,...
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Crestone WM CEO says launch was “no easy feat”
It took UBS Wealth Management Australia and Crestone Wealth Management (WM) close to 12 months to transfer 70 relationship managers and A$14 billion (US$10.3 billion) in client assets – and this...
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Part of UBS WM’s Kowloon office will become a “Techhub”, reveals Lo
UBS Wealth Management is planning to transform part of its Kowloon office into a “Techhub” for fintechs, reveals Amy Lo, head of UBS Wealth Management Greater China and country head for UBS Hong Kong,...
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FATCA-tailored systems won’t suffice for CRS regime
Private banks that expect to reuse their FATCA-tailored technologies to comply with the incoming Common Reporting Standard (CRS) regime are sorely mistaken, according to regulatory and risk firm...
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BNP Paribas WM goes live with tech solution in Taiwan
BNP Paribas Wealth Management has implemented ERI’s OLYMPIC Banking System in Taiwan, joining the French lender’s Singapore and Hong Kong operations that are already using the solution. The...
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Fintechs: a disruption or distraction for private banks?
Most of us know that private banking CEOs love the f-word – fintech, that is. And though many CEOs will claim that their latest incubator scheme or accelerator programme is clear evidence that they...
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Going techside on five private banking integrations in Asia
Expect consolidation dynamics to intensify. Few in Asia’s private banking industry would argue otherwise, although not everyone agrees that profitability (i.e. survival) and scale are necessarily...
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MAS to breed fresh fintech talent with new tie-up
The Monetary Authority of Singapore (MAS) has tied up with five local polytechnics to find ways to “prepare and equip” graduates with fintech-related skill sets to take on the booming fintech-related...
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Deutsche Bank’s Nemali: We’re working on three front office tools
It has been almost a year since Deutsche Bank Wealth Management became the first private bank in Asia to outsource its entire back office operations. Now Sudhir Nemali, the private bank’s COO for...
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Bank of Singapore’s tech head departs for fintech scene
Bank of Singapore’s technology and strategic programme head has resigned and will enter the region’s burgeoning fintech space, Asian Private Banker can reveal. Vincent Caldeira, who has been with Bank...
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HNW-focused “bionic” advisor secures first client
Singapore-based Bento’s new robo advisor tool has launched in the Lion City it already has a client. The fintech’s “bionic advisor” – a high-net-worth-targeted tool that combines the inputs from a...
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Junior RMs called upon to teach their seniors about mobile apps
Tech-savvy junior relationship managers (RMs) at an American private bank are being teamed up with their senior colleagues whose lack of sophistication regarding their bank’s digital offering is...
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UBS WM expects to complete its global tech revamp by 2018
UBS Wealth Management’s country-wide technology overhaul that will uproot legacy systems and streamline the Swiss bank’s operations costing “hundreds of millions” is pegged to be completed in the next...
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