26 April 2019 |

AppMap: The 2019 update

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As private banks in Asia continue to invest in technology, Asian Private Banker reviews the milestones that the industry has reached in the 2019 update of AppMap — the most comprehensive round-up of front-office and client applications deployed by the region’s wealth managers. Significant updates and tweaks in the last 12 months include reducing the friction of client-RM communications, upgrading personalisation, and enhancing digital investment propositions.

Learning to talk
In order to establish communication audit trails, private banks have enhanced their in-app instant messaging features to be as seamless as possible, aiming to match the convenience of popular third-party messaging apps such as WhatsApp and WeChat. While some private banks have added the option for voice and video calls, in the case of Bank of Singapore and Credit Suisse, more advanced functions like file and screen sharing, respectively, are offered so RMs and clients can review identical information during their discussions.

Still, Asian HNWIs’ affinity for WhatsApp and WeChat is hard to curtail and communications with RMs often remain on these channels. While institutions like Deutsche Bank Wealth Management have opted for internally developed instant messaging, the likes of DBS and Credit Suisse have added compliance layers to third-party apps so all communication history can be recorded in — and retrieved from — the banks’ servers for audit purposes.

To each their own
To deliver unique client experiences, private banks have added more personalisation features to their apps. To customise content, DBS’s iWealth curates research articles based on a client’s portfolio holdings while Credit Suisse, via the CS Invest platform, generates ideas based on clients’ pre-selected interests.

A number of banks also allow clients to modify notification settings so that alerts are sent when a particular investment of choice is priced above or under a certain threshold. On usability, UBS has designed a customisable interface which allows users to pick which charts and news to display on their landing page.

Investing by fingertip
Pending regulatory approvals, private banks have, slowly but surely, been adding trading capabilities to their apps in a bid to increase transactional and, in some cases, recurring revenue. Currently in their infancy, apps with trading execution functions mostly have vanilla asset classes on offer but some (UBS, Vontobel, and VP Bank) have made select structured products available.

In the case of DBS and its recently launched digiPortfolio, robo-advisory and discretionary portfolio management have simultaneously made their way into apps, with the robo-advisory component of the solution democratising DPM investing.

Private bank & appFeatures
Bank of Singapore
Bank of Singapore digital services


Target users: Clients
Available for users in: HK & SG
Login features
- Touch ID (fingerprint)
- Face ID (facial recognition by Apple)
- 2FA via OTP

Portfolio information
- Portfolio overview; breakdown by asset class, instrument, sector, geographical distribution (Portfolio 360)
- Updated at periodic intervals in a day
- Rates updated at start of business day

Instant messaging
Yes; includes multi-party video calling and file sharing

Research & content
Research published by the CIO team and Morningstar within past 12 months; updated intra-day

Reporting
- Monthly statements
- Contract notes
- Important notices
- General updates
Bank of Singapore
Bank of Singapore RM Navigator app


Target users: RMs
Available for users in: HK & SG
Portfolio information
- Portfolio overview; breakdown by asset class, instrument, sector, geographical distribution (Portfolio 360)
- Updated at periodic intervals in a day
- Rates updated at start of business day

Instant messaging
Yes; includes multi-party video calling and file sharing

Research & content
Research published by the CIO team and Morningstar within past 12 months; updated intra-day

Reporting
- Monthly statements
- Contract notes
- Important notices
- General updates
BNP Paribas WM
Voice of Wealth


Target users: Clients
Research & content
Content library for investments, insights on financial markets, market trends, reports, and research
BNP Paribas WM
myWealth


Target users: Clients
Available for users in: HK & SG
Login features
- Touch ID (fingerprint)
- Face ID (facial recognition by Apple)
- 2FA via OTP

Portfolio information
- Portfolio overview; breakdown by asset class and currency distribution

Transaction execution
Trades available on Australia, Hong Kong, Japan, and Singapore exchanges

Instant messaging
Yes

Research & content
Equity research publications, news by Thomson Reuters, daily market commentary, and news curated to clients' portfolios

Reporting
- Pre-generated monthly statements by month or customised date range
BNP Paribas WM
The Leaders' Connection


Target users: Clients
Other
Private networking application for BNP WM investors to:
- Contact each other
- View sell-side mandates from the bank
- Share and discuss investment ideas on co-investments
Citi PB
Citi Private Bank In View


Target users: Clients
Available for users in: HK & SG
Login features
- Touch ID (fingerprint)
- Face ID (facial recognition by Apple)

Portfolio information
- Portfolio overview; breakdown by region, asset class, and currency distribution

Instant messaging
Yes

Research & content
Reports, description of products and services

Reporting
- Statements, confirmations and tax information which are sharable with relationship team
Credit Suisse PB
Credit Suisse PB APAC App


Target users: Clients
Available for users in: HK, SG & AU
Login features
- Touch ID (fingerprint)
- Face ID (facial recognition by Apple)
- 2FA via digital token

Portfolio information
- Portfolio overview; breakdown by asset class and currency distribution
- Positions viewer; compare performance against benchmarks
- Personalised watchlist to track multiple assets and notifications on FX and equity trade activity
- For CS Invest clients: CS Invest portfolio summary page, customised investment ideas (within last 30 days), notifications for portfolio development

Transaction execution
Securities on major global exchanges, FX spot and forward trades

Instant messaging
Yes; includes video calls, audio calls, and screen sharing capability

Research & content
Proprietary investment strategy and research publications

Reporting
- Bank statements, correspondence and advices within past 12 months
- Document sharing function
DBS PB
RM Mobility


Target users: RMs
Available for users in: SG
Portfolio information
- Portfolio overview; breakdown by geography, sector, asset class and currency distribution
- Portfolio analysis; breakdown by credit portfolio, transaction history, retail holdings, account information, outstanding call reports, and notifications

Transaction execution
Funds – purchase and redemption

Research & content
Proprietary research and insights

Reporting
- Research, documentation and meeting details
- Shareable with clients

Other
- Available on iPad instead of mobile
- Other features: calendar, conversation planner, client 360
- Prepare and deliver customer presentations
- Consult and capture call reports
DBS PB
DBS iWealth


Target users: Clients
Available for users in: HK & SG
Login features
- Touch ID (fingerprint)
- Face ID (facial recognition by Apple)
- 2FA via digital token & OTP

Portfolio information
- Portfolio overview; breakdown by geography, sector, asset class and currency distribution
- Portfolio analysis and transaction history for past 12 months
- Access to retail accounts

Transaction execution
Equities in 7 markets, funds, FX, fixed deposit, online leveraging and banking transactions

Instant messaging
Yes; via DBS Wealth Chat on WhatsApp

Research & content
Proprietary research and insights, personalised research articles related to client’s portfolio holding, CIO equity insights and relayed research, insights on select DBS focus funds tailored to the customer’s risk appetite

Reporting
- Bank eStatements
- Wealth eAdvices
- Portfolio-related price alert notifications for equity, FX, funds, and fixed income
Deutsche Bank WM
Deutsche Wealth Online APAC


Target users: Clients
Available for users in: HK & SG
Login features
- Touch ID (fingerprint)
- 2FA via mobile digital token

Portfolio information
- Portfolio summary overview; breakdown by asset class and currency, performance charting, P&L view
- Portfolio consolidation to view aggregated portfolio

Research & content
CIO insights and select publications

Reporting
- Monthly and daily statements
- Advices and correspondence
Deutsche Bank WM
Deutsche Bank WM Spotlight


Target users: RMs
Research & content
Market news and updates across all asset classes
Deutsche Bank WM
ECQ Pricer


Target users: RMs
Other
- Price discovery app
- 'On-the-go' equity structured product solutions and live pricing
Goldman Sachs PWM
Goldman Sachs Private Wealth


Target users: Clients
Available for users in: HK & SG
Login features
2FA via OTP

Portfolio information
- Portfolio overview; breakdown by asset class, positions, and recent transactions

Research & content
Proprietary research, insights and strategies, market news and data
HSBC PB
HSBC Private Bank Mobile


Target users: Clients
Available for users in: HK & SG
Login features
2FA via OTP

Portfolio information
- Portfolio overview; breakdown by asset class
- Account balance as of previous business day
Indosuez WM
Indosuez Insights


Target users: Clients
Research & content
Daily news, proprietary economic and financial research
Julius Baer
JB Investment Insights


Target users: Clients
Research & content
Proprietary research, CIO and investment content via articles or videos
Pictet WM
Wealth


Target users: Clients
Available for users in: HK & SG
Portfolio information
- Portfolio overview; breakdown by valuation, performance and asset allocation
- Includes market and currency effects on each security

Instant messaging
Yes

Research & content
Proprietary publications, research and videos, macroeconomic news, market data and charts for each position

Reporting
- Account statements
- Correspondence with RM
Standard Chartered PB
Portfolio View & Messaging


Target users: Clients & RMs
Available for users in: HK & SG
Login features
- Touch ID (fingerprint)
- Face ID (facial recognition by Apple)
- 2FA via OTP

Portfolio information
- Portfolio overview; breakdown by asset class
- Currency rates valued daily at start of business day via Thomson Reuters

Instant messaging
Yes

Research & content
Yes

Reporting
- Account statements
- Advices
UBS GWM
UBS Mobile Banking


Target users: Clients
Available for users in: HK & SG
Login features
- Touch ID (fingerprint)
- 2FA via authentication app 'UBS Access'

Portfolio information
- Portfolio overview; breakdown by asset class and currency distribution
- Updated and screened for daily health

Transaction execution
Equities, funds and select structured products

Instant messaging
Yes

Research & content
Proprietary publications, CIO views and research, market and trade news

Reporting
- Account statements
- Advices and correspondence
Vontobel WM
Vontobel Wealth


Target users: Clients
Available to: Asia clients who are booked in Vontobel's Swiss booking center
Login features
Touch ID (fingerprint)

Portfolio information
- Portfolio overview; breakdown by asset class and currency distribution

Transaction execution
Equities, bonds, select funds and structured products

Instant messaging
Yes

Research & content
Investment topics, news and publications

Reporting
- Account statements
- Investment proposals
- Wealth statements
VP Bank
VP Bank e-banking mobile App


Target users: Clients
Available for users in: SG
Login features
- Touch ID (fingerprint)
- Face ID (facial recognition by Apple)
- 2FA via OTP

Portfolio information
- Portfolio overview; breakdown by asset class, sector, and currency distribution

Transaction execution
Payments, equities, bonds, select funds and select structured products

Instant messaging
Yes

Reporting
- Account statements
- e-Post documents