Alan Luk, head of private banking and trust services, Hang Seng Bank shares his views with Asian Private Banker in ‘The Final Word’, a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology.
Business Performance | Productivity and efficiency matter more than ever in this environment. Over the past year, what key steps have you taken to improve both the productivity and efficiency of the business and, to date, what has been the impact?
In this ever-changing and fast-paced operating environment, continuously improving the end-to-end journey for high net worth clients is critical to maintaining customer satisfaction. Our strategy aims to offer the best possible experience from the first point of contact, supported by the use of various client lifecycle management (CLM) tools.
We have implemented several CLM initiatives in the past year that have helped make various tasks and necessary procedures easier for our clients and RMs. For example, the new customer onboarding process has been digitalised and we have automated some routine elements of regular operations. Where possible, we are adopting paperless initiatives that not only streamline and speed up various approval and other processes, but also reduce our use of natural resources. These and other digitally driven actions are making the client journey faster and easier, and improve the connectivity, communication, and collaboration among the involved parties. As turnaround times become shorter and the number of processes that need to be completely manually declines, RMs have more time to build deeper relationships with clients and focus on meeting their specific wealth management needs and objectives.
The digitalisation and optimisation of the end-to-end client journey is ongoing, and supports our firm commitment to pioneering a more productive, client- centric business model.
Meet 2019’s industry leaders in the full round up of of Asian Private Banker‘s The Final Word 2019.