Fintech Canopy has raised US$3 million from several Hong Kong and Singapore-based family offices to support its newly opened US office, expanding its HNWI data services from Asia to North America. “We currently have a team of 66 in Asia and plan to build a team of 15 to 20 in the US market within 1½ years,” Tanmai Sharma, founder […]

The post Singapore-based Canopy raises US$3 million to expand HNWI data services to the US appeared first on Asian Private Banker.

 How can private banks harness data to empower client relationships and reinvent service models? Canopy founder and CEO Tanmai Sharma — named Asian Private Banker‘s Tech Changemaker of the Year for 2020 — discusses the power of data in wealth management.

The post APB Thought Leaders: Empowering the digital era of wealth management through the power of data – Canopy appeared first on Asian Private Banker.

Data analytics fintech Canopy said it has set eyes on widening its acquisition and consumption of data in 2021 and beyond, on the back of the launch of a benchmark site that allows the public to compare against Canopy’s aggregate data across investment sentiment, performance, and allocation. The new public site provides insight on how an individual investor compares with […]

The post Canopy rolls out benchmark site, with an eye on broader data acquisition and consumption appeared first on Asian Private Banker.

The average annualised return achieved by investors subscribed to Canopy’s portfolio aggregation and analysis solution fell from 8% in early December to 2% at the end of April, demonstrating just how much market conditions deteriorated over the five-month period as fears over the impact of COVID-19 compounded a global economy already undergoing a synchronised slowdown. On average, investors saw a […]

The post Canopy data reveals reversal of fortune for 2019’s top performing investors appeared first on Asian Private Banker.

As family offices consider incorporating digitalisation into daily business operations, they are in need of tools that can improve their internal efficiency, revealed a study conducted by ESSEC Business School on behalf of fintech firm Canopy. The study — conducted by Lucas Jacquet, Hortense Puget, Antoine Rodesch, and Rafal Staniszewski — noted that both single and multi-family offices place a […]

The post In digitalisation, family offices keenest on internal efficiency gains: ESSEC & Canopy appeared first on Asian Private Banker.

In this four-part series, Asian Private Banker takes a look back at the major events that have shaped the competitive landscape for APAC wealth management in each quarter of 2019. Links to the other quarters: 1Q19 | 2Q19 | 3Q19 | 4Q19 October BNP Paribas announces strategic investment into Allfunds 21 Oct – BNP Paribas announced its intention to take […]

The post A year of handshakes, green lights, and ribbon-cutting: 4Q19 appeared first on Asian Private Banker.

In this four-part series, Asian Private Banker takes a look back at the major events that have shaped the competitive landscape for APAC wealth management in each quarter of 2019. Links to the other quarters: 1Q19 | 2Q19 | 3Q19 | 4Q19 JULY VP Bank, Hywin WM ink strategic tie-up for HNW China market 11 Jul – Vaduz-based VP Bank […]

The post A year of handshakes, green lights, and ribbon-cutting: 3Q19 appeared first on Asian Private Banker.

In this four-part series, Asian Private Banker takes a look back at the major events that have shaped the competitive landscape for APAC wealth management in each quarter of 2019. Links to the other quarters: 1Q19 | 2Q19 | 3Q19 | 4Q19 FEBRUARY Schroders WM acquires IAM Thirdrock’s wealth management arm 1 Feb – Schroders Wealth Management struck the first […]

The post A year of handshakes, green lights, and ribbon-cutting: 1Q19 appeared first on Asian Private Banker.

Nippon Wealth has selected Singapore fintech Canopy to provide account aggregation and analytics services to its RMs and “enhance client relations”, Asian Private Banker can reveal. The wealth manager, which currently holds a restricted banking licence in Hong Kong, is looking to leverage Canopy’s analytics to launch MIKI on 2 December, a new service that will allow clients to visualise […]

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Canopy has signed on Corecam Family Office — the fourth independent asset manager (IAM) to which the fintech provides account aggregation and analytics services, Asian Private Banker can reveal. Corecam will fully integrate Canopy’s solution in 4Q19, from which time its portfolio and relationship managers will gain insight into clients’ assets — both bankable and non-bankable — across various geographies and asset […]

The post Canopy signs fourth IAM to deepen footprint in Singapore, Switzerland appeared first on Asian Private Banker.

Relationship managers tend to adopt a reactive rather than proactive approach to less active clients who could be better served through effective collaboration between RMs, investment counsellors (ICs) and digital tools, according to Canopy COO Michiel van Selm. “When it comes to dealing with less active clients, what I see is a reactive approach driven by either client initiative — […]

The post PBs should proactively engage less active clients via collaboration: Canopy appeared first on Asian Private Banker.

Private banks’ monthly statements lack the innovation and transparency that could provide clients with holistic insights on their holdings, thus requiring advisors to do extra legwork translating the data into meaningful and useful information, according to Canopy. “Clients want to be able to see the data in their preferred way,” Michiel van Selm, Canopy’s COO, told Asian Private Banker. “They […]

The post Monthly PB statements lack transparency and innovation: Canopy appeared first on Asian Private Banker.

Canopy has announced its partnership with Hong Kong-based Raffles Family Office as the fintech firm expands its client base to include multi-family offices, which are seeking solutions “just as sophisticated” as those used by their private banking counterparts, according to Canopy’s COO. In the second of quarter of 2019, Raffles Family Office will have access to Canopy’s account aggregation and […]

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Account aggregation platform Canopy will launch proofs of concept with two additional private banks this week, indicating an increase in demand for account aggregation services in the region, Canopy’s CEO and founder, Tanmai Sharma, told Asian Private Banker. Due to confidentiality concerns, Canopy can only reveal that its two newest clients are a “global international private bank” and a “specialised Swiss private […]

The post Canopy strikes deals with two more PBs in Asia appeared first on Asian Private Banker.

As 2018 draws to a close, Asian Private Banker reviews some of the most significant moments in the world of Asian private banking. February Top Tweets: BoS hits $100B two years ahead of target, clinches Obama Bank of Singapore started the year off with two headline-making tweets — in February, CEO Bahren Shaari announced on Twitter that the bank’s AUM […]

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Account aggregation platform Canopy has announced its plans to expand to Zurich in an effort to “lock down” market opportunities in Europe, CEO and founder Tanmai Sharma told Asian Private Banker. Interestingly, the move was prompted by Canopy’s ability to handle a format that competitors, according to Sharma, cannot: the PDF. “Even after five years, Canopy seems to be the only […]

The post Canopy expands to Switzerland under “monopolistic” situation appeared first on Asian Private Banker.

Credit Suisse said on Tuesday “the core of the strategic intent” behind its partnership with Canopy and its decision to add Canopy’s account aggregation tool to its digital platform in Hong Kong was to “problem-solve something critical” — specifically, the “high demand” from Credit Suisse’s client base for a consolidated view of portfolios and positions across institutions. But take a closer […]

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Credit Suisse has gone live with its Canopy-powered automated account aggregation solution in Hong Kong, after launching the service in Singapore last year. The rollout marks the latest enhancement to Credit Suisse’s digital private banking service in Hong Kong. It is also an audacious — if predictable — move by a major player that anticipates a power shift towards multi-banked […]

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Credit Suisse has taken just over a 10% stake in Singapore-based fintech firm, Canopy, Asian Private Banker can reveal. The firm has also raised US$3.4 million from investors including Credit Suisse and Lionrock Capital, according to a statement seen by Asian Private Banker. “With the Credit Suisse partnership gaining momentum, and other institutional clients also looking to utilize Canopy — […]

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Credit Suisse Private Banking has gone live with Canopy, its automated account aggregation and reporting solution in Singapore, six months after inking a partnership with the Singaporean fintech startup. Benjamin Cavalli, Credit Suisse’s Singapore CEO, head of private banking Southeast Asia and head of Singapore location private banking division, tells Asian Private Banker that prior to the launch, the platform’s […]

The post Credit Suisse PB goes live with Canopy after receiving “positive feedback”: Benjamin Cavalli appeared first on Asian Private Banker.

Six significant “megatrends” are dominating the investment landscape, Credit Suisse’s Singapore CEO and head of private banking for Southeast Asia, Benjamin Cavalli, said at the bank’s Global Megatrends Conference 2017 in Singapore today. The conference, which was attended by more than 500 Credit Suisse private banking clients and guests, explored the following six themes, with additional insights from industry experts: […]

The post Angry societies, longevity and Brexit among major global investment trends, Credit Suisse tells 500 PB clients appeared first on Asian Private Banker.

Credit Suisse has partnered with a Singapore-based fintech startup that specialises in automated account aggregation and reporting solutions and rolled out an automated client onboarding tool to significantly enhance its digital private banking platform for its Asia-based clients, according to a statement from the bank. The Swiss major inked an agreement with Mesitis to offer its solution, Canopy, to users […]

The post Credit Suisse PB partners with fintech to launch aggregator, and rolls out client onboarding tool appeared first on Asian Private Banker.

Divergence and a lack of conviction in market calls could be generating abstruse correlation risks for Asia’s HNWIs, whose multi-banking ways and a tendency to focus on headline figures could be offsetting returns. Well known for their tendencies to multi-bank and shop around, Asian HNWIs may be generating correlation risks within their total portfolios without even knowing it. For example, a […]

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A large majority of respondents in Asian Private Banker’s weekly poll say Asia’s high net worth individuals (HNWIs) prefer to multibank with as many as four private banks, while a fifth believe this could actually be five banks or more. Roughly 64% of APB readers polled believe that the average HNW client in Asia banks with three to four private banks. […]

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