Q1: Reflecting on 2025, what were your bank’s major milestones from an operational perspective, and how did you achieve them? Conversely, what were the setbacks and challenges encountered along the way, and what measures were taken to surmount them? How have those lessons shaped your 2026 strategy?

In 2025, UOB Private Bank (UOB PB) doubled down on delivering a more holistic experience to clients across the bank’s wealth continuum. We do this by offering them the option and flexibility to engage with us however and whenever they wish, from simpler day-to-day banking services and enquiries to more complex investment advice. 

Beyond omni-channel access, clients increasingly prefer an integrated engagement for all their banking and investment advisory needs, delivered both digitally and through our relationship managers (RMs). Ensuring they can seamlessly navigate our services and solutions through a single point of contact or platform is essential to providing a consistent and positive experience. 

In 2026, we will extend this approach beyond the consumer and private bank to deliver a unified and positive experience to clients across the entire bank. This strengthens our One-Bank strategy to serve both our clients’ business and personal needs.

Q2: As private banks invest in upgrading their KYC systems and scaling AI capabilities, how are you addressing the operational challenges of integrating these technologies while driving measurable KPIs in revenue growth and delivering hyper-personalised client experiences?

In response to the rapid evolution of technology in private banking, many private banks have been actively prioritising enhancements to their systems, particularly the deployment of AI capabilities for KYC due diligence checks. Such improvements aim to make review processes more efficient, strengthen AML controls, and reduce reliance on manual checks. At the same time, there is a growing focus on scaling up the delivery of bespoke investment advice to target client segments. 

As the industry continues with this upgrading journey, our approach at UOB PB remains focused on two fronts:

• First, ensuring our key processes, data models, and tools across both KYC and client advisory are designed and refined in partnership with experienced, relevant business professionals. We adopt an agile approach with continuous feedback, enabling timely learning and rapid deployment of new capabilities to sharpen our solutions and deliver clear outcomes. It is essential to set clear KPIs from the outset, using both quantitative and qualitative measures with interconnected links to drive meaningful and measurable outcomes.
  
• Second, we engage our wider staff population early in the process, equipping them with knowledge on how these tools can effectively enhance their roles and encouraging daily adoption. Driving this change agenda is critical and cannot be underestimated, as the success of such initiatives depends on broad-based support and active participation from our colleagues.

Through these concerted efforts, we are committed to delivering operational excellence, enhanced client experiences, and robust regulatory compliance as we advance our digital transformation journey.

Q3: The cost-to-income ratio is a key metric for assessing bank performance. What range do you consider optimal, and how is the bank managing the cost side—across investments, real estate, and other operating expenses—to maintain efficiency and competitiveness in the region?

The cost-to-income ratio is a derivative of the different operating models of each private bank. At UOB PB, rather than seeking an “ideal” ratio, we focus on deepening our understanding of our clients’ servicing needs. This approach allows us to sharpen our comparative advantage and operating model, offering a comprehensive suite of products and services beyond wealth management. 

At the same time, we continue to leverage technology, data and partnerships across other segments of the Bank to enhance our operational and resource efficiency. This ensures that we deliver greater value to all our clients.

Q4: With regulatory requirements continually evolving, private banks are reassessing their compliance systems and processes. From an operational perspective, what are the biggest challenges you face in meeting these requirements, and how is the bank tackling them to maintain both efficiency and client trust?

With increased regulatory scrutiny on uplifting the source of wealth (SOW) standards, many banks are investing in technology solutions to automate aspects of their SOW due diligence. This is often accompanied by augmenting human resources, ensuring timely delivery of outcomes to mitigate AML risks across the bank. However, to push the envelope and achieve this, banks are compelled to request significantly more information and documentation from clients.

Banks must strike a delicate balance between collecting client information and its implications for the client experience, especially in new banking relationships. While it is vital to ensure regulatory compliance and uphold a bank’s fiduciary duty, it is important to differentiate between must-haves and good-to-haves when requesting additional documentation from clients. Existing clients also need to be assured that the trust they have established with the bank remains valued.

Striking the right balance between effective AML risk management and positive client experience requires clarity and alignment across all business lines, controls and compliance functions. Business risk appetites and due diligence requirements must be clearly defined and supported by transparent rationales that are understandable to both RMs and clients. This clear understanding between RMs and clients helps to foster cooperation and continued trust. 

Besides providing regular training for staff across the service chain, we are also equipping them with self-help guides and tools, tailored to different client scenarios. These resources are designed to promote consistent and positive client engagements while ensuring regulatory requirements are met. By getting these processes right the first time, we also minimise unnecessary follow-up outreach to clients.