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?

The focus in 2025 was on sharpening execution. A key milestone was the ongoing streamlining and optimisation of core operational processes, particularly KYC, credit, client onboarding, and client life cycle management. These improvements promoted continued efficiency gains, enhanced consistency throughout the client journey, and increased scalability. These steps were necessary to ensure a solid foundation of stability, quality and trust.

Another important development was the consolidation of our APAC regional coverage (marketing/operations) in Singapore, our Asia headquarters. It enabled clearer accountability, closer collaboration across teams and ultimately faster decision-making, which benefits all stakeholders, especially clients. 

At the same time, the year was not without challenges. Rising regulatory expectations and periods of market volatility increased operational demands, necessitating careful prioritisation and resilience. Balancing regulatory rigour with responsiveness remained a constant focus.

These experiences have directly shaped our approach as we entered 2026. We started the year with clear priorities, a strong emphasis on cross-functional collaboration, and a continued commitment to incremental improvements that support regulatory expectations, a high-quality client experience, and prudent cost management.

Examples include centralising parts of our investment compliance, business and operational risk management tasks with the corporate centre in Liechtenstein and fine-tuning the management and operational aspects of the client lifecycle through dedicated specialists. 

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?

VP Bank emphasises a ‘Partnership for Progress’ philosophy. This reflects our belief that sustainable progress is achieved by identifying opportunities, taking responsibility and collaborating closely with clients and partners to shape positive outcomes.

From an operational perspective, we focus on integrating technology in a way that strengthens, rather than fragments, the client experience. For instance, our professional data feed is a comprehensive, reliable digital solution designed specifically for intermediaries. We approach client life cycle management holistically, from initial onboarding through to long-term wealth planning and generational transfer. Rigorous KYC and AML processes form the foundation of this approach, supported by digital tools that enhance transparency, data quality and process efficiency. Although AI and automation are playing an increasingly important role, they must be deployed with clear governance and defined objectives to ensure they meaningfully contribute to operational and commercial outcomes.

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?

Although the cost-to-income ratio is an important indicator, direct comparisons between banks are only partially meaningful. Different institutions use different calculation methodologies. At VP Bank, for instance, we take a comprehensive approach that incorporates all cost components, including depreciation and provisions. Many of our peers only partially report these, or exclude them altogether, which can result in structurally lower headline ratios.

Therefore, rather than targeting a specific peer benchmark, we focus on ensuring that our cost base supports sustainable growth — growth that balances ambitions with operational discipline and resilience. This involves achieving continuous efficiency gains through process streamlining, making disciplined investment decisions that support long-term client value, and taking a prudent approach to operating expenses.

In terms of operating expenses, our flexible and hybrid working arrangements, for example, supported by modern digital tools, have strengthened productivity, talent retention, and operational resilience, while also supporting cost efficiency.

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?

The pace of regulatory change remains one of the most significant operational challenges for private banks in Singapore and the wider region. The expectation of greater transparency, improved data quality, ongoing monitoring, and regular reporting continues to grow, putting pressure on systems, processes, and personnel.

VP Bank addresses these challenges by implementing group-wide frameworks, controls, and methodologies that ensure consistency while also enabling enhanced oversight and reporting. Close collaboration between functions is a key success factor, particularly between operations, compliance, IT, risk, and the front office. Translating regulatory requirements into efficient, workable processes requires a common understanding for alignment across these teams. In our view, robust regulations underpin financial stability and reinforce the trust that is fundamental to private banking.

By embedding regulatory considerations into day-to-day operations rather than treating them as additional tasks, we aim to reduce operational risk while maintaining a smooth client experience.