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 committed to developing and rolling out mobile apps for clients and relationship managers, with ‘communication’ and ‘content’ emerging as key themes.

Communication: Messaging systems to curtail WhatsApp, WeChat
To create an official channel for clients and their relationship managers (RMs) to communicate, 13 banks in Asia have thus far implemented messaging functions on their mobile/tablet apps. Even so, COOs say that clients still prefer to use unsanctioned channels including Whatsapp and Wechat, creating compliance headaches. RMs, too, are using these ubiquitous platforms and their broadcast functions to circulate news and information.

Aiming to curb these practices, individual banks are pushing out their own chat platforms en masse. For example, BNP Paribas Wealth Management developed a complete app dedicated to client/RM communications, which has been progressively rolled out in Asian markets since August. Clients are able to hold conferences with their advisors in a recorded environment, providing RMs with a safely disseminate advice to their clients and for clients to place trade orders.

Content: Digital distribution of information remains strong
According to a 2017 survey conducted by Asian Private Banker, Asia-based COOs reported that 75% of bank apps already offered clients access to research and market reports. Investor and bankers’ predilection for digitally-distributed research and news is reflected in the fact that 12 private banks have developed 19 apps with the capability to distribute information directly to clients. Many of these apps provide information specific to a client’s portfolio holdings. Moreover, 3Q17 data from research portal, Statista, shows that two-thirds of internet traffic in Asia came from a mobile device.

Mobile launches and updates to continue
And there’s more to come in 2018. Deutsche Bank Wealth Management’s APAC head of technology, Sandipan Ray, told Asian Private Banker that the German lender has committed to “investing EUR 65 million to upgrade its digital platform aiming to improve systems, processes and clients/RMs’ experiences.”

Meanwhile, Indosuez Wealth Management has a “new app [which] will be launched over the course of the year”. Pictet Wealth Management is also working on an advisory extension for its client app “starting this year”.

Keep an eye out as we track the continued development of private banking mobile/tablet applications – and if you have something to add, please reach out to us as editor@asianprivatebanker.com.

 

Private BankApp NamePlatformAsia Launch DateMain Features
Bank of SingaporeBank of Singapore Client AppiPhone / iPadDec 2016- Tailored research
- Monthly Statements / Contract notes
- Portfolio navigation by sectors
- Geographical distribution
- Transaction history
- Asset and currency allocation
- Biometric login with facial recognition
- FX views: asset gains and losses
Bank of SingaporeBank of Singapore RM Navigator appiPadDec 2016- Clients' portfolio information
- Tailored research based on clients' portfolios & preferences
BEA Private BankingiPortfolio AnalyseriPadJul 2016- Client portfolio date sliced by asset class, currency mix, transaction details & historical performances
- Client portfolio & predefined standard investment models comparison
- Inbuilt paperless risk assessment questionnaire to calculate client's risk & tolerance levels
-Built with IBM
BNP Paribas WMVoice of WealthTabletAug 2016- Content library for investment, insights on financial markets, market trends, reports and research
BNP Paribas WMmyWealthMobile / TabletDec 2016 (Tablet)
Mar 2018 (Mobile)
- One-stop digital banking platform
- Portfolio overview/details
- Notifications related to client account: equity research, recommendations, etc.
- Secure messaging platform where clients can execute trades (mobile-only)
- Personalised content newsfeed from internal/external sources that is catered to the client portfolio (mobile-only)
- Investment management for clients with personalised advice (mobile-only)
BNP Paribas WMmyConference AsiaiPhone / iPadAug 2017- Dedicated channels for client/RM communication
- Video call and conferencing
- Instant order placement
BNP Paribas WMLeaders' ConnectionMobileJan 2017BNP WM investors can:
- Contact each other
- View sell-side mandates from the bank
- Share and discuss investment ideas on co-investments
Citi PBCiti Private Bank In ViewMobile / TabletFeb 2014- View portfolio, including asset allocation, recent transactions, performance analysis
- Research, description of products & services
- Real-time communication with RMs specialists
Credit Suisse PBCredit Suisse PB APAC AppMobile / Tablet2017- Portfolio overview/details and transaction history
- Library of bank publications and market news
- Customisable watchlist of financial instruments
- Securities trading on major exchanges
- Execute spot FX and forward trades
- 12 month archive of electronic documents
- Secure RM communications with instant messaging, video calling and screen sharing
- Document sharing function
- Portfolio risk analysis
- Tailored investment advice and ideas through CS Invest
- Digital token and biometric login
DBS PBMy WorkbenchTabletNov 2016- RM dashboard: market news, appointments and conversation planner
- Real time view of client account, transactions, performance and analysis
- Prepare and deliver customer presentations
DBS PBDBS iWealth SGMobile,
Apple Watch
Jan 2017- Biometric logins
- Insights & analysis customised to clients' preferences & holdings
- Trade stocks in 7 markets
- Data and analysis for over 400 funds
- Price alerts for equity, FX, funds and fixed income
- Contact RMs/Advisor
Deutsche Bank WMDeutsche Bank WM SpotlightMobileJan 2017- Market news & updates across all asset classes for RMs
Deutsche Bank WMECQ PricerMobileFeb 2017- Price discovery app
- "On-the-go" equity structured product solutions and live pricing for RMs
Deutsche Bank WMDeutsche Wealth OnlineMobile / TabletNov 2017- Portfolio overview/details and transaction history
- Daily/monthly statements
- Online messaging and advice
- Digital token and biometric logic
- Available in Chinese
Goldman Sachs Private WMGoldman Sachs Wealth Management AppMobile / TabletSep 2012- Portfolio information: positions, asset allocation & recent transactions
- Market information: news, data, quote search, alerts and watchlists
- Secure messaging service and phone access to wealth management team
- Content library: access to proprietary research and insights
HSBC PBHSBC Private Bank MobileMobileAug 2015- Accounts, portfolios, transaction history
- Contact RMs/Advisor
Indosuez WMIndosuez InsightsMobile / TabletFeb 2017- Provides clients with access to the bank's latest economic and financial research
- For clients
Julius BaerJulius Baer VisionMobile / TabletSep 2013- Content library for the bank's corporate magazine
Julius BaerJB Investment InsightsMobile / TabletJun 2017- Consolidation of previously separate "Gen-Y Investment Workshop" and "Next Generation - The Future" apps
- Content library for next gen studies, investment publications/ideas, research documents
- Multi-format CIO research
Pictet WMWealthMobileQ1 2017- Portfolio holdings & summary overview
- Secure messaging system between clients and portfolio managers
- Content library for financial news and market data
Standard Chartered PBPortfolio View & MessagingMobileMar 2016- Portfolio holdings & summary overview
- Cash account transaction history
- Form requests
- Secure messaging service
- Clear payment instructions
UBS WMUBS Mobile BankingMobile / Tablet2015- Account balance and transaction history
- Portfolio health check alert
- Content library: investment news, research and commentary from the CIO office
- Customisable notifications for: assets, payments, cards, budget/goal management
- Secure messaging service
- Cards: transaction history and management
- Customisable interface with ability to 'favourite' functions
UBS WMUBS Morning BriefMobile2017- Content library curated by UBS experts
- Daily morning investment news and articles
- CIO house views
- Articles from 'UNLIMITED by UBS', a monthly curated newsletter
- Accessible while offline
UBS WMNavigatoriPadApr 2014- Investment scenarios via interactive simulations
- Advisors & investment specialists contact
UBS WMNewsstandiPadOct 2014- Research, analysis & insights from CIO office
Vontobel WMVontobel WealthMobile / TabletNov 2015- Overview and control of portfolios and accounts
- Detailed performance overview with individual time periods
- Asset analysis by category and currency
- Secured instant messaging center for real-time communication with RM
- Recent market and company developments with the assessment of proprietary research specialists
- Multi-format (video and podcast) information channels from Vontobel experts
- Generate individual ad hoc reports, such as performance overviews, account extracts, etc.
- Access to documents, receipts and statements
VP BankVP Bank e-banking mobile AppMobile / Tablet- Portfolio overview/details and transaction history
- Payment transactions: log/submit payments through scanning tool
- Stock exchange access: set up and process orders, payments, standing orders
- Secure messaging
- Archive of electronic statements