To keep up with the needs of Asia’s ultra and high net worth individuals, family offices need to pick up the pace and have plans in place to serve generations ahead, says Hemant Tucker. This is driving Farro Capital, a Singapore-headquartered multi-family office, to proactively devise new strategies for the Asian wealth segment amid a shift towards more “institutional” frameworks, […]

The post Quick wins or lasting wealth? MFO reveals what matters to UHNWIs appeared first on Asian Private Banker.

Capturing growth in 2026 requires wealth portfolios to decisively rotate away from US tech-heavy strategies toward Asian markets buoyed by domestic policy, fair valuations and a softening greenback, according to Eastspring Investments’ Vis Nayar. “The reality is that markets have done well, and Asian markets really powered ahead again in January. We’re seeing quite material outperformance from Asia from a […]

The post Eastspring CIO: Wealth portfolios shift to Asia as US tech dominance fades appeared first on Asian Private Banker.

J.P. Morgan Private Bank has revealed that over 60% of its APAC advisers now regularly use internal AI tools, while client engagement has surged fivefold as the firm pivoted from generic LLMs to deeply embedded, proprietary data workflows. “Whenever I approach something initially, it’s never about technology first. It’s always about: What’s the business problem, opportunity and how to drive […]

The post Rethinking outreach? J.P. Morgan PB sees 5x engagement jump with AI appeared first on Asian Private Banker.

DBS is leveraging its ‘One Bank’ capability to bring artificial intelligence (AI)-related investment opportunities in Asia to wealth clients. On Monday, the bank announced a three-year partnership with multi-asset investment platform Granite Asia to develop innovative investment and financing solutions, broaden access to capital and provide strategic support to high-growth Asian companies. The partnership kicked off with Granite Asia’s closing […]

The post DBS taps ‘One Bank’ to give wealth clients access to Asia’s AI investments appeared first on Asian Private Banker.

Artificial intelligence is no longer just a growth theme — it has become a core support for the US economy and equity markets. As consumption and manufacturing slow, AI investment has emerged as the standout growth driver, contributing more to US GDP expansion than consumer spending, according to Julius Baer’s group CIO, who warns this heavy reliance on a single […]

The post Who will win the US AI race—providers or users? Julius Baer CIO weighs in appeared first on Asian Private Banker.

After riding the AI growth wave of 2025, Julius Baer is eyeing broader opportunities in China, hoping that the country’s next policy moves will provide longer-term fixes to consumer and property sectors. “It’s not an overstatement to mention that it was a tech-led rally in China in 2025. I think 2026 would be more balanced,” Richard Tang, China strategist and […]

The post Julius Baer pivots China strategy to robotics and policy bets appeared first on Asian Private Banker.

Wealth clients in Asia hoping to cash in on further artificial intelligence (AI)-led rallies this year could be let down, Nick Wilcox told Asian Private Banker, noting that the recent beta runs might not hold for much longer and warrant more considered, diversified allocations. Wilcox, who is a managing director for discretionary equities at Man Group, noted that he is […]

The post Asia wealth clients risk AI letdown as US beta trade runs dry, says Man Group appeared first on Asian Private Banker.

From record North Asia flows and the resumption of full-force hiring to digital assets and evergreen funds, Asian Private Banker looks back at the big stories that dominated headlines in 2025. 1. Hong Kong’s comeback: Record North Asia wealth flows Asia’s private banks experienced unprecedented growth in North Asia, with Hong Kong’s wealth industry bouncing back to near pre-pandemic levels, making the city […]

The post APB Wrapped: The top 10 Asia private banking trends in 2025 appeared first on Asian Private Banker.

Artificial intelligence (AI) is moving rapidly up the private-banking agenda in Asia, reshaping how banks engage clients, support relationship managers (RMs), and run core investment and risk processes. What began as pilot experimentation with automation and natural-language tools is now becoming integral to advisory models from Singapore to Hong Kong, driven by rising client expectations and intensifying regional competition. Standard […]

The post Private banks take AI live — Julius Baer shows how it’s done appeared first on Asian Private Banker.

The impact of the ongoing artificial intelligence (AI) boom will be felt beyond equity allocations, with fixed income taking a hit amid new bond issuances, Ben Bennett, head of investment strategy, Asia, at L&G, told Asian Private Banker. With bonds outperforming year-to-date on the back of a positive 2024 and negative 2023, developments led by AI companies this quarter could […]

The post The AI boom is here, and what it means for 2026 bond investors appeared first on Asian Private Banker.

High net worth individuals (HNWIs) in Asia are rotating into emerging market (EM) debt and Japanese equities in the face of a persistent bubble in tech stocks and a weakening US dollar, Nuveen’s Laura Cooper told Asian Private Banker. EM debt has seen increased investor interest this year due to higher yields and attractive valuations, with recent gains and positive […]

The post Asian HNWIs rotating to EM debt and Japan amid dollar weakness appeared first on Asian Private Banker.

This is a sponsored advertorial from Robeco. Artificial intelligence is transforming every industry, and investing is no exception. But amid the hype, AI risks being used more as a marketing label than a genuine source of insight or performance. Artificial intelligence (AI) is hot and transformative, reaching far beyond tech into the investment industry. With so much hype, there is […]

The post 25+ years of quant investing at Robeco: Five critical conversations to test whether your asset manager’s AI adds value appeared first on Asian Private Banker.

Imagine a highly reliable group of employees capable of meticulously sifting through thousands of pages of financial statements and data sets, all while spotting news trends such as sustainability claims, executive moves, social media chatter, fund flows, and then suggesting calculated trades on a whim – not just for one company, but for tens of thousands of organisations across different […]

The post AI gives quant the edge, but can it replace human judgement? appeared first on Asian Private Banker.

“Artificial intelligence (AI) represents something larger than compliance efficiency — it’s about redefining what’s possible in banking,” Kelvin Chiang, head of platform and analytics, financial crime compliance, Bank of Singapore, told Asian Private Banker. His comments come as Singapore’s wealth management industry continues to rebuild trust after a S$3 billion money-laundering scandal two years ago. As the Monetary Authority of […]

The post AI steps in as private banking’s new compliance watchdog appeared first on Asian Private Banker.

The wealth industry’s rush into artificial intelligence (AI) is already rapidly moving beyond basic efficiency tools and into more complex portfolio advisory tasks, as implementation becomes a top-tier operational priority. But has anyone stopped to ask an obvious question: How will banks differentiate their advice if every advisor in the city relies on the same or similar machine-driven insights? DBS […]

The post Citi, DBS, Leo Wealth warn of AI-driven portfolio homogenisation appeared first on Asian Private Banker.

The wait-and-see era is officially over. More than half (52%) of Hong Kong’s private wealth management firms are now actively investing in, or planning to invest in, virtual assets, a monumental shift that coincides with a 15% year-on-year surge in industry AUM. However, the nightmare of duplicating custody systems in Hong Kong, along with other regulatory hurdles, continues to create […]

The post Hong Kong private banks double down on digital assets as confidence soars appeared first on Asian Private Banker.

The US stock market has delivered three consecutive years of exceptional gains, a feat not achieved since the dotcom era, leaving some to wonder, can the party last? According to UOB Private Bank (UOB PB), there is still some way to go, with the Singaporean private bank upgrading equities from neutral to overweight for the fourth quarter. A combination of […]

The post Is the party over for US equities? UOB Private Bank thinks not appeared first on Asian Private Banker.

Bank of Singapore has launched an agentic artificial intelligence (AI) tool to overhaul a key part of its client due diligence process. The technology automates the know your customer (KYC) due diligence process required to confirm the legitimacy of clients’ assets and financial history, the firm said in a release on Friday. Dubbed the Source of Wealth Assistant (SOWA), the […]

The post Bank of Singapore deploys agentic AI for faster source of wealth checks appeared first on Asian Private Banker.

This is a sponsored article from CICC.  On September 11, the CICC 2025 GBA Wealth Management Forum was held in Hong Kong, injecting fresh momentum into regional economic growth and financial cooperation. On September 11, the CICC 2025 GBA Wealth Management Forum was successfully held in Hong Kong. The event brought together over 400 representatives to engage in in-depth discussions […]

The post CICC 2025 GBA Wealth Management Forum successfully held in Hong Kong appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has launched a generative AI-powered ecosystem in a bid to help its wealth management staff enhance client experience. Client-facing staff members, investment counsellors and product specialists will be able to leverage the bank’s new Wealth Intelligence ecosystem to provide clients with market insights and personalised investment strategies, according to a statement on Tuesday. “Client […]

The post HSBC GPB launches GenAI-powered ecosystem for wealth staff appeared first on Asian Private Banker.

Swiss pure play Pictet Wealth Management (Pictet WM) identifies a growing trend among clients to diversify into European markets and focus on AI, driven by increasing concerns over continued volatility in US markets. Noting the evolving geopolitics playing out since Trump’s “Liberation Day,” Karen Tan, head of managed solutions, Asia, Pictet WM, said there has been a sharp reset of […]

The post Pictet WM’s Karen Tan bets on Europe as US diversification grows appeared first on Asian Private Banker.

As private banking clients shift their focus away from the US amid rising policy uncertainty, Morgan Stanley is betting on China’s booming AI market as the next frontier for private wealth clients. Energy was high at Morgan Stanley’s recent China Best Conference in Shenzhen, where strong interest in China’s AI market was evident. Corporates from a broad range of sectors […]

The post Morgan Stanley PWM Asia goes big on China’s US$2.4tn AI revolution appeared first on Asian Private Banker.

Ionic Wealth is blending smart tech with human advice to scale fast in India’s competitive wealth space. The Mumbai-headquartered firm is tapping into the country’s digitally savvy population through a flexible model that offers access via app or adviser. Co-founded by CEO Srikanth Subramanian, the firm operates in nine Indian cities with a team of 166, including 57 relationship managers (RMs). It serves […]

The post Indian wealth firm betting on AI to scale up appeared first on Asian Private Banker.

Standard Chartered has appointed a global head of data, analytics and artificial intelligence (AI) for the Wealth and Retail Banking (WRB) business, the bank announced in a statement on Monday. Based in Hong Kong, Yusuf Demiral has been appointed as the global head for WRB data, analytics & AI at Standard Chartered. In this newly created role, he will lead […]

The post StanChart bolsters wealth arm with HSBC AI expert appeared first on Asian Private Banker.

This is a sponsored article from Robeco. The rise of artificial intelligence (AI) has spurred discussions about the future of investing. Robeco explores leveraging next-generation techniques in its quant investing and beyond. Following the release of ChatGPT, AI concepts like natural language processing (NLP) and machine learning have become firmly embedded in the public consciousness, creating tremendous excitement about their […]

The post 25+ years of quant investing at Robeco: Man vs machine to man plus machine? appeared first on Asian Private Banker.

New technological developments in artificial intelligence (AI) have the potential to change life for private banking relationship managers (RMs), according to a leading consultant. While many private banks are already using AI, its application has been relatively limited, predominantly using large language models (LLMs) for tasks such as reading and summarising documents. While this works really well for simple applications, […]

The post “Big breakthrough” in AI could radically change how RMs work appeared first on Asian Private Banker.

The following is an excerpt from Asian Private Banker’s Bottom Line newsletter – an essential rundown of all of the past week’s essential news and views on the region’s private banking industry. Bottom Line is available to all APB subscribers The surprise emergence of a lower-cost artificial intelligence (AI) model has helped re-energise Chinese equity markets that had spent the […]

The post Bottom Line: The Jack Ma rally may just be getting started appeared first on Asian Private Banker.

Outperforming rivals like ChatGPT at lower cost, China’s DeepSeek R1 challenged assumptions about not only the dominance of US tech firms in the booming artificial intelligence (AI) space – but also their equity valuations. That realisation has wiped hundreds of billions of dollars off the US stock market over the past week as investors priced in a future with lower […]

The post DeepSeek: More evolution than revolution? CIOs weigh in appeared first on Asian Private Banker.

Technology proliferation continues to obstruct the work of wealth managers in Hong Kong, a new industry report has found. Nearly half (47%) of wealth managers in Hong Kong identified difficulty in accessing existing client data as a strong or very strong barrier in their daily work, according to a recent survey by tech firm Avaloq. This is up slightly from […]

The post Tech sprawl plagues Hong Kong’s wealth managers – report appeared first on Asian Private Banker.

Asian Private Banker was thrilled to unveil the winners of our Asset Management Awards for Excellence 2025 this month. You can read more about who won what by clicking here. Markets were again choppy this year. Many of the most notable bouts of volatility occurred in late summer, including the unwinding of the yen carry trade, the artificial intelligence sell-off, […]

The post Five things we learned from AMA 2025 appeared first on Asian Private Banker.

With artificial intelligence (AI) adoption rapidly becoming a cornerstone of business strategy, particularly in the US, UBS explains how to best tap this exploding opportunity. AI adoption continues to broaden, with 5.9% of 1.2 million tracked companies in the US using AI as of 3Q24 compared to just 3.7% in 3Q23, UBS Global Wealth Management chief investment office (UBS GWM […]

The post “Tech theme of the decade” – UBS reveals how to tap booming AI opportunity appeared first on Asian Private Banker.

Singapore’s Philanthropy Tax Incentive Scheme (PTIS), which seeks to incentivise single-family offices (SFOs) to commit capital to charitable causes, has seen sluggish demand since opening at the start of the year. Meanwhile, Hong Kong is playing catch-up to Singapore when it comes to AI governance but has recently launched a generative AI (Gen AI) sandbox to bolster adoption of this […]

The post Singapore’s SFO philanthropy scheme starts slow; Hong Kong AI governance playing catch-up appeared first on Asian Private Banker.

Hong Kong’s family offices are implementing artificial intelligence (AI) across a broad range of functions, primarily to automate otherwise lengthy and manual processes but also to enable them to tap a broader clientele. The investments in AI come as financial institutions increasingly grapple with how best to harness the technology’s huge – albeit expensive – potential. A recent Goldman Sachs […]

The post How Hong Kong family offices are riding US$1tn AI wave appeared first on Asian Private Banker.

With AI upending many jobs and professions, from long-distance truck drivers to writers to radiographers, time may too be ticking for wealth advisors. This is according to a new survey of the wealth management industry, which interviewed 250 wealth management firms and 2,000 investors, and found that 60% of Gen Y and Gen Z, also known as Millennials and Zoomers, […]

The post Could private bankers be extinct by 2030? Gen Y and Z think so appeared first on Asian Private Banker.

Seen by some as a bubble, UBS Global Wealth Management (GWM) is betting on the long-term potential of Artificial Intelligence (AI). Although valuations may be high, the bank believes AI is nevertheless a “super mega trend”, and the growth potential justifies the price. Despite volatile markets, interest in ChatGPT – and generative AI as a whole – picked up over […]

The post “Big will get bigger” – Why UBS GWM is betting on AI in the long term appeared first on Asian Private Banker.

AI chatbot ChatGPT could stand to bring a raft of benefits to wealth management, from investment analysis to risk management, if given the right prompts. ChatGPT, or the Chat Generative Pretrained Transformer, to give its full name, is the latest artificial intelligence development that has been grabbing headlines in recent months. ChatGPT is referred to as a ‘generative AI’, which […]

The post ChatGPT: Which prompts can make wealth management smarter? appeared first on Asian Private Banker.

This is a sponsored article from Avaloq. Gery Zollinger, head of Data Science & Analytics at Avaloq, discusses the ethics of artificial intelligence in financial services. Artificial intelligence can generate real value for business by supporting targeted marketing and analytics, chatbots, and other important functions, but it can also produce biased decisions. AI systems that are trained with incomplete or […]

The post Delivering Ethical Outcomes in Finance with AI appeared first on Asian Private Banker.

Avaloq on Wednesday said it is launching a platform for advanced data science and artificial intelligence (AI) in wealth management. The tech firm said Avaloq Insight is a real-time data science cloud platform that will provide wealth managers and financial advisers with advanced levels of analytics. The platform is designed to help drive customer satisfaction and increase sales effectiveness based […]

The post Avaloq launches data science, AI platform for wealth management appeared first on Asian Private Banker.

McKinsey & Company has made the case that AI and machine learning need to evolve from the current largely siloed practice into an integrated, full-stack approach, capable of capturing all the opportunities that AI can afford. “We are probably in the early stages of an AI-driven revolution in banking, and this will last many years. To be able to use […]

The post Full-stack AI transformation will soon become a “hygiene factor” for PBs: McKinsey appeared first on Asian Private Banker.

Private banks in Asia should look beyond the marketing hype generated by digitalisation and artificial intelligence (AI), and instead focus on how technology can magnify their existing capabilities, shared Will Lawton, head of QUO, the cloud-based ‘software-as-a-service’ investment management platform of TradingScreen, a US-based order and execution management systems provider. “In private banking, digitalisation predominantly happens behind the scenes around […]

The post COVID-19 piles pressure on PBs to digitalise — without losing human touch appeared first on Asian Private Banker.

Bank of Singapore has named a chief data and innovation officer today, a new role created to deepen its digital transformation programme. As chief data officer, Céline Le Cotonnec is to “unlock opportunities and deliver actionable insights” for clients and business functions. As head of the innovation unit, she will drive innovation efforts. She will report to Bahren Shaari, chief […]

The post New data and innovation officer to drive digital transformation at Bank of Singapore appeared first on Asian Private Banker.

Asia has been the world’s goldmine for many a private bank in the past decade. The region has grown to be home to the most HNW wealth and largest HNW population, and is set to keep minting millionaires at a CAGR of 7.6% over the next five years1. But as with all gold rushes, the discovery of wealth brings about […]

The post Experts say analytics is the way forward for upping RM productivity appeared first on Asian Private Banker.

Hong Kong-based MioTech made headway on its expansion plans, having secured its series A+ funding round from Li Ka-shing’s private investment arm Horizon Ventures, the fintech announced today. MioTech uses artificial intelligence, natural language processing, and ‘knowledge graph’ technology to provide corporate and market data for financial institutions. As of 2019-end, it had some fifty clients in Asia consisting mostly of […]

The post MioTech pushes the pedal on expansion after Series A+ funding appeared first on Asian Private Banker.

To combat financial crime more effectively, financial institutions and fintechs should collaborate and involve regulatory watchdogs early in their transformation journeys, Deloitte told Asian Private Banker. “Financial institutions and fintechs should partner rather than compete. They also need to bring regulators along their innovation journey from the outset,” said Radish Singh, Southeast Asia financial crime compliance leader at Deloitte. According to Singh, […]

The post Banks, fintechs should partner rather than compete to fight financial crime: Deloitte appeared first on Asian Private Banker.

The increased application of machine learning — the mechanism that underlies artificial intelligence (AI) — is likely to raise cybersecurity concerns for private banks as it functions best in a public cloud environment. However, with the proper precautions taken, private banks can help their machines learn without exposing themselves to too much risk, an expert has explained to Asian Private […]

The post How to train your AI: Expert chimes in on proper public cloud usage for PBs appeared first on Asian Private Banker.

In view of enhancing supervision amid the increased adoption of artificial intelligence (AI) solutions, the HKMA sent letters to the chief executives of all authorised institutions in Hong Kong last Friday, stressing that board members and senior management remain accountable for AI-driven decisions. The letter, penned by Raymond Chan, the HKMA’s executive director for banking supervision, set out 12 principles […]

The post HKMA stresses senior management accountability for AI-driven decisions appeared first on Asian Private Banker.

In a bid to improve RM efficiency, offer more convenience to clients, and stay ahead of technological disruption, Asia’s private banks have increasingly relied on and invested in their digital capabilities and solutions. In July, Asian Private Banker distributed its 2019 Mid-Year Private Banking Technology Snapshot Survey in the region to gain a clearer, aggregated understanding of where firms stand […]

The post Work in progress: The digitalisation journey so far for Asia’s private banks appeared first on Asian Private Banker.

To avoid stifling the spirit and momentum of AI innovation, the region’s regulators must establish AI governance with caution, according to panellists at today’s Asia Securities Industry & Financial Markets Association (ASIFMA) Conference. During a panel titled ‘AI Governance’, industry experts agreed that AI technology has a considerable way to go before it can be considered “mature” enough to be relied […]

The post Experts say moderate regulator guidance needed to maintain AI innovation appeared first on Asian Private Banker.

Ecommerce-related ‘bigtech’ firms have the potential to be the next systemically important financial institutions (SIFIs) and therefore require regulatory oversight, according to Ong Chong Tee, deputy managing director at the Monetary Authority of Singapore (MAS). Fintech developments have offered tech giants a space on the competitive financial services landscape, which could have implications for financial stability as bigtech companies — […]

The post ‘Bigtech’ firms could be next systemically important FIs: MAS appeared first on Asian Private Banker.

This is a sponsored article from RAM Active Investments. The application of artificial intelligence is opening up extraordinary new frontiers in asset and wealth management, as machine learning increases the speed and efficiency of critical data processing and optimisation exercises. Meanwhile, another powerful theme is reshaping the investment universe: sustainable, socially responsible investing and the overarching need to build portfolios […]

The post Heart of the machine: AI with a human touch transforms sustainability investing appeared first on Asian Private Banker.

Singapore’s GIC, SGInnovate, and Singapore Management University (SMU) have inked strategic partnerships with Canadian-based AI software provider Element AI to further bolster AI capabilities in Singapore’s technology ecosystem. The purpose of the agreements is to foster collaboration between the four parties in order to “convert the latest academic breakthroughs into robust AI products that can be integrated and uniquely customised at […]

The post Four-way collaboration to “transform” Singapore’s AI landscape appeared first on Asian Private Banker.

As artificial intelligence (AI) applications become increasingly pervasive amongst financial institutions across the globe, a chasm has opened up between the uptake of AI and the governance and regulations of such technologies, according to a research report released by law firm Baker McKenzie, based on a survey of 355 senior executives in the financial services sector. More than half (52%) […]

The post Legal and ethical frameworks need to catch up with AI: Baker McKenzie appeared first on Asian Private Banker.

Recent incidents of cybersecurity breaches have highlighted the risks financial institutions (FIs) face by storing data centrally, according to a fintech expert at the FinTech Security Conference held in Hong Kong. As the frequency of financial transactions grows given rapid technological developments, both Hong Kong and Singapore regulators are increasingly recognising the importance of cybersecurity and, as such, have published guidance around […]

The post Cybersecurity breaches highlight risks of centralised data stores appeared first on Asian Private Banker.

Temenos has revealed its plans to incorporate artificial intelligence (AI) throughout its core banking platform to individualise end-client experience and “cut costs and gain efficiencies”, according to the firm’s APAC managing director. By empowering its systems with AI capabilities and quality data, the banking software provider aims to assist its banking clients in personalising customer experience, creating more data-driven decisions for […]

The post Temenos to incorporate AI into its core banking system appeared first on Asian Private Banker.

Fintech firm MioTech on 20 September launched its newest product, Ami, a tool set to “make teams smarter” by leveraging AI technologies, according to co-founder and CEO Jason Tu. MioTech is an AI platform that “empowers investment managers to better serve their clients in a world of complex data”, and its latest offering Ami (advanced market intelligence) analyses key market data […]

The post MioTech leverages AI, launches “virtual data scientist” appeared first on Asian Private Banker.

Goldman Sachs Private Wealth Management has launched two new single asset class discretionary portfolio management (DPM) solutions — one for equities and one for fixed income — with a focus on enhancing alpha generation through alternative security selection approaches and underlying assets. Leveraging big data and machine learning for equity security selection For equities, Goldman Sachs Private Wealth Management has leveraged […]

The post Goldman Sachs PWM draws interest in Asia through big data equity and illiquid fixed income mandates appeared first on Asian Private Banker.

The bank that has vowed to turn itself into a fintech company is cautioning that the application of artificial intelligence (AI) cannot displace human bonds. Instead of relying on robotic solutions as a silver bullet that will serve as the answer to all, China Merchants Bank suggests that the banking industry should sharpen its focus on making efficiency gains when investing […]

The post CMB PB: AI cannot displace the human bond appeared first on Asian Private Banker.

Singapore-based independent asset manager (IAM), Crossbridge Capital, is looking at establishing a new relationship with a “regulated financial company outside of Singapore” in the next couple of months, after having expanded the functionalities of its digital and wealth management platform, CONNECT. “We’re looking at quite a few different potential partners on B2B,” Charlie O’Flaherty, partner and head of digital strategy […]

The post Crossbridge aims to forge B2B partnership for digital platform appeared first on Asian Private Banker.

The Monetary Authority of Singapore (MAS) has announced a series of partnerships aimed at enhancing the artificial intelligence ecosystem in Singapore. In a release, the Singapore watchdog said it would collaborate with the Economic Development Board (EDB), Infocomm Media Development Authority (IMDA) and the Institute of Banking and Finance (IBF). The EDB will “augment” MAS’s S$27 million Artificial Intelligence and Data Analytics […]

The post MAS to expand AI and data analytics development programme appeared first on Asian Private Banker.

The anti-money laundering (AML) task force, formed by the Hong Kong Monetary Authority (HKMA) and the local police force, has made 71 arrests over a ten-month period and frozen some HK$2.8 million worth of assets, Arthur Yuen, HKMA deputy chief executive, announced yesterday. Set up as a pilot scheme in 2017, the Fraud and Money Laundering Intelligence Taskforce has shown “concrete results” since its establishment […]

The post HKMA: 71 arrests made by fraud and AML task force appeared first on Asian Private Banker.

Bank of China (Private Banking), the Chinese industry’s third-largest, has shaken up its product selection platform, amid a deepened push for artificial intelligence (AI) adoption and greater training for its frontline staff — ahead of a central bank-mandated ban for guaranteed wealth management products next year. Bank of China said in its latest earnings report released Thursday, the private bank […]

The post BOC PB shakes up product and service platform appeared first on Asian Private Banker.

Bank of China (BOC) Private Banking, China’s third largest, is working on developing its capability for artificial intelligence-allocated investment portfolios, as a potential alternative to mutual fund offerings. The Chinese bank’s management disclosed it is working on building such solutions, which it could sell to HNW investors in bulk through one-click processes online as its next key offering. The bank’s […]

The post BOC PB eyes AI-allocated portfolios as fund alternative appeared first on Asian Private Banker.

This is a sponsored article from FactSet. Wealth management is in the grip of a digital revolution. The sun is setting on the days when a private banker and client met once a quarter in a discreet club room for an amiable chat about portfolio options. Today, high net worth individuals conduct 44% of their wealth management interactions online and […]

The post Wealth management with a digital touch that is surprisingly human appeared first on Asian Private Banker.

China’s Bank of Communications (BoCom) has launched a new artificial intelligence-driven wealth advisory app for clients. The app is an upgrade of the bank’s previous iteration which  has allowed clients to conduct live transactions and directly access relationship managers through video calling since last year.  Developed following an analysis of behavioural data from some 110 million BoCom clients, the app […]

The post BoCom launches AI-driven wealth advisory app appeared first on Asian Private Banker.

Licaitong, Tencent’s online wealth platform, is looking into implementing more exclusive technological innovations in the year ahead with plans to increase its wallet share of high-net-worth clients. Among the technologies the Tencent platform is experimenting with this year is a robo-advisory algorithm with deep learning capabilities, that can make investment recommendations with a higher degree of precision than its existing artificial intelligence algorithm. […]

The post Tencent taps AI, biometric adoption in HNWI push appeared first on Asian Private Banker.

The end of this week marks the end of the “world’s largest fintech event” in the form of the Singapore FinTech Festival; and as one would expect, the city-state’s regulator, the Monetary Authority of Singapore (MAS), made a number of key announcements throughout the event. Asian Private Banker, which was in attendance, rounds up the most significant developments that emerged during the […]

The post Singapore FinTech Festival: key announcements and initiatives appeared first on Asian Private Banker.

Private bankers in Hong Kong, overburdened by the number of investment suitability checks they need to carry out, are increasingly turning to artificial intelligence solutions to cope, says George Ong, managing director of private banking tech vendor Axisoft. “Where I believe private banks in Hong Kong are still in a grey area is in the way their RMs manage product […]

The post Hong Kong’s private bankers turning to AI-driven tools to deal with suitability requirements appeared first on Asian Private Banker.

Tencent is working on developing an “ecosystem” that will benefit both individuals and financial institutions including private banks, Daniel Hong, deputy general manager of Tencent Financial Technology, tells Asian Private Banker. “What’s in the pipeline for Tencent Fintech? In general, we aim to build an ecosystem benefiting both individual users and financial institutions,” Hong said. “Within such [an] ecosystem, we […]

The post Tencent plans to build “ecosystems” and SaaS solutions for financial institutions appeared first on Asian Private Banker.

A shared KYC platform for banks operating in Hong Kong will be launched “very soon”, according to UBS’ Amy Lo, who adds that the utility will first cover corporate clients and SMEs and that the inclusion of individual clients is “still under discussion”. “In terms of regtech, we have been discussing with regulators the development of a digital identity [resource],” […]

The post Shared KYC utility coming soon to Hong Kong, says UBS’ Amy Lo appeared first on Asian Private Banker.

Citi has launched a natural language chatbot on Facebook Messenger for its clients in Singapore, the American lender said in a statement today, adding that it plans to roll the service out to clients across the region over coming months. Han Kwee Juan, CEO of Citibank Singapore, said that with customers becoming increasingly mobile, the bank is integrating itself “into […]

The post Citi launches chatbot in Singapore, plans broader rollout in Asia appeared first on Asian Private Banker.

Relative to its peers in Asia, Singapore is likely to see the fewest jobs losses stemming from the “artificial intelligence wave”, which is set to transform the financial services industry in coming years, UBS Wealth Management’s Asia Pacific vice chairman, Tracey Woon, said at a conference on Friday. “Singapore is in a sweet spot to ride the AI wave and […]

The post Singapore well positioned to “ride the AI wave”, says UBS WM’s Tracey Woon appeared first on Asian Private Banker.

To operate efficiently, a medium-sized private bank should house an army of 100 to 150 ‘robots’, Ashwani Kohli, APAC head of technology firm UiPath, tells Asian Private Banker, adding that private banks are only just beginning to warm to the concept of robotic process automation (RPA). RPA is an emerging technology that automates largely administrative or clerical processes using programmed […]

The post Mid-sized private banks should house 100-150 robots: RPA expert appeared first on Asian Private Banker.

Whereas cyber crime was previously seen as more of an issue for retail banks, the increasing use of online platforms means cyber security has become equally important for private banks, a consultant tells Asian Private Banker. “Doing transactions face-to-face, in person, certainly lowers risk, but the demand nowadays is more towards mobility and other technical solutions regardless of whether they […]

The post Private banks are increasingly exposed to cyber risks, says consultant appeared first on Asian Private Banker.

Banks should be cognisant of data protection and the scope of liability when harnessing big data and artificial intelligence (AI), says Adrian Lawrence, partner at Baker McKenzie. Lawrence said at the Hong Kong Technology Conference today that regulators may look to distinguish between anonymous data that is only used for data analytics, and data that is personally identifiable. “Data protection is […]

The post Data protection and liability in focus as banks adopt AI, says law firm appeared first on Asian Private Banker.

The Securities and Futures Commission (SFC) wants to see more technology providers “supporting compliance in a more general perspective” in Hong Kong, according to Benedicte Nolens, senior director and head of risk and strategy at the regulator. While identity recognition, know your customer (KYC), and anti-money laundering (AML) technologies are relatively well developed, the SFC would like to see more […]

The post SFC wants to see more regtech solutions in Hong Kong appeared first on Asian Private Banker.

The Chartered Financial Analyst (CFA) Institute plans to include fintech topics in its exams from 2019, though the institute is a “long way” from finalising the broadened syllabus, says Nick Pollard, CFA Institute’s managing director for the Asia Pacific. “It is an extensive, continuous, global process that identifies what topics should be added, deleted, or modified to the CFA Program […]

The post CFA Institute to add fintech to syllabus, views technology as an “opportunity” for bankers appeared first on Asian Private Banker.

The widespread adoption of artificial intelligence (AI) will force private banks to further differentiate between their lower- and higher-end wealth tiers, says Sundeep Gantori, global IT analyst at UBS Wealth Management’s Chief Investment Office. Gantori believes that AI disruption risks are particularly high for the financial services industry. And while technology will most likely affect consumer banking first, it will […]

The post AI will push PBs to further differentiate between low- and high-end wealth tiers, says UBS WM appeared first on Asian Private Banker.

It’s no secret that financial institutions in Asia have been bullish about artificial intelligence (AI) for some time, with private banks in particular looking to new technologies to assist in data analytics and investment advice. Yet, a camp of private banking tech heads and external vendors are growing more cautious about adopting an approach that relies on the so-called ‘black […]

The post AI’s ‘black box’ methods stir scepticism among PB experts appeared first on Asian Private Banker.

Anti-money laundering (AML) officers at Asia’s private banks are warming to prospects of greater automation in their daily workflow, but remain wary of widespread adoption, according to a survey of 24 AML and compliance officers in Hong Kong and Singapore by Asian Private Banker. Transaction monitoring, as the term implies, involves sifting through client transactions to detect abnormal activities, or […]

The post Transaction monitoring may be ripe for automation, but no machine will beat the client “smell test” appeared first on Asian Private Banker.

UBS Wealth Management’s investment office shares its views about how artificial intelligence (AI) will transform Asia – with estimates about AI’s economic value, impact on the job market, and related investment advice – in a biannual publication focused on longer-term investment views of 5-10 years. “Given its ability to uproot the status quo across industries, artificial intelligence has become a […]

The post UBS Wealth Management: How AI will transform Asia appeared first on Asian Private Banker.

2017 promises to be a year of technological reassessment and reinvention for Asia’s private banking industry. So what’s in store? Here are five Asian Private Banker predictions: Voice technology will dominate front-office tools. Forget UI and UX. A new era has dawned for virtual assistants – best exemplified by Apple’s Siri, Microsoft’s Cortana and Amazon’s Echo. As clients become more comfortable […]

The post Five tech predictions for private banking in 2017 appeared first on Asian Private Banker.

POSB, part of the DBS Banking Group, has rolled out on its website and Facebook Messenger a virtual assistant called dVA, allowing customers to chat online with the bank. The chatbot utilises artificial intelligence technology that is powered by New York-based fintech startup, Kassito. The purpose of the virtual assistant is to field questions from clients about products and services, including checking […]

The post DBS account holders can now chat online with AI bot appeared first on Asian Private Banker.

Asian Private Banker rounds up and reviews the major tech plays at 10 private banks in 2016.

The post 10 banks, 10 tech plays for 2016 appeared first on Asian Private Banker.

UBS Wealth Management is planning to transform part of its Kowloon office into a “Techhub” for fintechs, reveals Amy Lo, head of UBS Wealth Management Greater China and country head for UBS Hong Kong, speaking at the Swiss bank’s “Disruptive Technology” conference in Hong Kong today. “We are developing a ‘Techhub’ in Hong Kong in our new Kowloon office where we […]

The post Part of UBS WM’s Kowloon office will become a “Techhub”, reveals Lo appeared first on Asian Private Banker.

DBS is looking to roll out an artificial intelligence-driven tool for its retail and private banking clients in Singapore by the end of the year, and the application will mirror aspects of the bank’s recently launched “digibank” offering in India, says Olivier Crespin, DBS’ group head of digital bank. “We introduced a virtual assistant to help our customer base in […]

The post DBS to bring AI-driven tools to Singapore PB clients appeared first on Asian Private Banker.

UBS Wealth Management (WM) is piloting a series of programmes that use artificial intelligence (AI) to help clients decide how to invest their money, according to the private bank’s chief investment officer, Mark Haefele. The Swiss lender will be running a number of tests to see how it can best utilise AI technology – including trialling a tool that examines and interprets […]

The post UBS WM trialling AI appeared first on Asian Private Banker.

In the financial sector, tech buzzwords are a dime a dozen, the newest being artificial intelligence (AI). Stripping away all the hype, Asian Private Banker looks closely at how AI works at a private bank and whether it will last. It’s a humid and overcast afternoon in Hong Kong. A 30-something private banker, her laptop blinking, swivels on a chair […]

The post Shock of the new: Artificial intelligence comes to private banking appeared first on Asian Private Banker.

More than a year after DBS Private Bank announced it would deploy the supercomputer that was made famous in US game show Jeopardy, the large realms of data involved means the Singaporean lender is still working on how best to quantify the artificial intelligence system. Roll-out of the system on a wider basis was targeted for the second half of […]

The post DBS Private Bank-IBM Watson a “work-in-progress” appeared first on Asian Private Banker.

The competition to establish the most powerful fintech partnership continues, with OCBC announcing that it will target wealth management through artificial intelligence (AI). Through its new unit launched last month, The Open Vault, and accelerator programmes to help the Singaporean lender engage with fintechs in Asia, the bank will look at ways to effectively utilise the solutions for different parts […]

The post OCBC targets wealth management through artificial intelligence appeared first on Asian Private Banker.