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Singaporean life insurance startup raises funding from HK, UK investors
Singapore Life, a startup that aims to offer universal life and other insurance products, has raised US$50 million in capital and applied to the Monetary Authority of Singapore for a direct life...
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Synpulse pilots “iTunes of mutual funds” platform with seven private banks
Seven private banks, together with their respective relationship managers and external independent asset manager (IAM) coverage heads, are collaborating with Synpulse on its new...
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Private banks opting for tailor-made fraud prevention platforms, says Synpulse
Consulting firm Synpulse says multinational private banks are developing their own bespoke digital fraud prevention platforms since there is a lack of ready-made solutions catering to their needs....
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AI will push PBs to further differentiate between low- and high-end wealth...
The widespread adoption of artificial intelligence (AI) will force private banks to further differentiate between their lower- and higher-end wealth tiers, says Sundeep Gantori, global IT analyst at...
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DBS WM’s Patrick Dreyfuss on IBM Watson, AUM survival thresholds and mobile apps
Asian Private Banker sits down with DBS Wealth Management’s chief operating officer, Patrick Dreyfuss, to discuss the bank’s evolving digital offerings, the latest tech trends and whether scale...
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Three alternative tech strategies for private banks with AUM below US$20 bn
Private banking COOs and IT heads at Asian Private Banker’s IAS Summit in Singapore discussed three alternative tech strategies for private banks – typically those with less than US$20 billion in AUM...
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Synpulse partners with Additiv to develop robo advisory platform
Consulting firm Synpulse and fintech company Additiv have partnered to develop a robo advisory offering for financial institutions in Asia, targeting retail and mass affluent client segments in the...
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Financial institutions now more reliant on machines than humans for data...
Amid the rapidly changing regulatory environment, financial institutions have become more reliant on machines than humans for their data processing needs, according to Thomson Reuters. 2016 was the...
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SFC signs first fintech co-operation agreement with UK
Hong Kong’s Securities and Futures Commission (SFC) has entered into its first fintech agreement, with the UK Financial Conduct Authority (FCA), following HKMA’s agreement with FCA last December. The...
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CFA Institute to add fintech to syllabus, views technology as an...
The Chartered Financial Analyst (CFA) Institute plans to include fintech topics in its exams from 2019, though the institute is a “long way” from finalising the broadened syllabus, says Nick Pollard,...
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Is tech adoption driving up RM:assistant ratios at Asia’s private banks?
The ratios of relationship managers (RMs) to assistant relationship managers (ARMs) at private banks in the region are climbing – particularly among Asia’s homegrown institutions, according to Asian...
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SFC’s proposed suitability requirements for online platforms will be...
Hong Kong’s Securities and Futures Commission (SFC) is holding consultations about the proposed guidelines on online distribution and advisory platforms, with much of the discussion revolving around...
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Credit Suisse PB’s Thailand unit grows AUM “tenfold” in first year of business
Credit Suisse Private Banking’s wealth management business in Thailand has recorded “strong growth” since launching a year ago, with the number of client accounts increasing “fivefold” and assets...
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Fintech company receives funding for robo offering, targets lower wealth...
Digital solutions provider additiv’s CHF21 million capital raise will help boost the firm’s robo offerings – particularly in Asia, where there is interest from the lower wealth tiers, Loïc Pitrou,...
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Singaporean robo advisor plans to launch this summer after raising additional...
Singaporean robo advisor StashAway has raised a further S$3 million and “plans a launch this summer” after qualifying for a retail fund management license. StashAway said in a news release that the...
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MAS inks deal with IFC to boost regional connectivity, fintech innovation
The Monetary Authority of Singapore (MAS) has signed an agreement with the International Finance Corporation (IFC) aimed at developing the region’s fintech ecosystem. The partnership, called the ASEAN...
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Contineo to roll out new lifecycle management tool for private banks
Contineo, a Hong Kong-based structured products platform, plans to offer a new lifecycle management tool that leverages distributed ledger technology – usually associated with blockchain – to private...
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Asia’s private banks are finally waking up to the robo revolution
Almost half of all private banking robo advisory offerings in Hong Kong and Singapore were launched in 2016, according to Asian Private Banker’s robo chart, which shows that private banks in these key...
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Avaloq’s founder & CEO: Warburg Pincus deal means access to top private...
Two months ago, private banking software giant Avaloq agreed to sell 35% of its business to private equity firm Warburg Pincus, in a deal valued at over CHF 1 billion. In addition to providing the...
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How China’s new cyber security laws will affect private banks
To comply with China’s new cyber security laws – which came into effect today but include a grace period that could last until the end of 2018 – private banks will need to establish data inventories...
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