Awards for Distinction 2024 – Best International Private Bank – Digital Innovation and Services

Best International Private Bank Digital Innovation and Services

 

J.P. Morgan Private Bank

Best International Private Bank – Digital Innovation and Services

Benson Wong

head of digital products and channels, International Private Bank

“We are truly honoured to receive the Best International Private Bank for Digital Innovation and Services award. Digital innovation is at the core of our business strategy, and we take great pride in this recognition.

“Our goal is to provide our clients with innovative, comprehensive, and personalised digital solutions that enable us to offer best-in-class wealth management services anytime, anywhere. We view digital not merely as a means of ‘self-servicing’ but as an opportunity to harmonise digital and human advisor interactions through AI, data, and other technologies.

“This award serves as a strong affirmation of our journey towards delivering exceptional services, products, and seamless experiences to our clients through our advisors and platform.”

What was behind the judges’ decision?

  • Throughout 2024, J.P. Morgan Private Bank has significantly enhanced its artificial intelligence capabilities for APAC clients by setting up a dedicated AI regional team. Leveraging J.P. Morgan’s industry-leading AI expertise, the APAC team has further refined its large language model suite and introduced AI Research Analysts – Connect Coach. This innovative tool enables relationship managers to seamlessly access and share J.P. Morgan’s in-house research in multiple languages, enhancing client engagement and advisory services.
  • JPOI has been elevated to a new level in 2024, now available in over 20 regions, across nine booking platforms, and in seven languages. Powered by the bank’s in-house AI capabilities, JPOI delivers an enhanced client experience, offering personalised digital solutions, advanced fraud and security features, and refined real-time performance analysis, setting a new benchmark for digital innovation in private banking.
  • The numbers speak for themselves. During the judging period, client engagement metrics showed a significant uptick. Over 75% of client relationships now engage digitally every month, with a 26% increase in active users on the platform. While J.P. Morgan Private Bank has seen tremendous success in its APAC business, its strategic digital investments have played a key role in driving this growth. Notably, the bank achieved a nearly 90% success rate in eligible online trades and recorded an 80% surge in mobile engagement, reinforcing its commitment to delivering a seamless and innovative digital experience for clients.

What we said…

“J.P. Morgan Private Bank has won the Best International Private Bank for Digital Innovation & Services award for the first time, highlighting the US giant’s commitment to placing digital innovation at the forefront of its services for ultra high net worth and family office clients,” said Carly Lau, senior reporter, Asian Private Banker.

“The US lender impressed the judging panel with its in-house designed artificial intelligence technologies built to power client-centric digital platforms driven by data-driven strategies. J.P. Morgan Online International (JPOI) saw strong adoption in 2024, featuring enhanced capabilities such as personalised digital solutions, fraud and security portals, goals-based planning, and seamless integration with ENGAGE, WhatsApp and WeChat.

“This milestone, achieved under the leadership of Benson Wong, head of digital products and channels, is a testament to J.P. Morgan Private Bank’s relentless pursuit of excellence in digital capabilities, enhancing both relationship manager productivity and client experience. Asian Private Banker congratulates the J.P. Morgan Private Bank digital team on their well-deserved win.”


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