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, […]

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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 […]

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As concerns persist over the high cost of and compliance issues related to artificial intelligence, some private banks have looked to its “ancestor” — robotic process automation (RPA), according to consultancy Synpulse, which told Asian Private Banker that the technology is particularly well suited to mid-sized IAMs and family offices which offer a wide range of services on a limited budget. […]

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Deutsche Bank Wealth Management is balancing RPA productivity with human reliability to maximise efficiency and accuracy and “take care of future demand”, the firm’s global head of operations told Asian Private Banker. “As our books continue to increase, it’s just not possible for us to keep hiring and hiring all the time,” said James Burbidge, global head of operations at Deutsche […]

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DBS and IBM have once again joined hands, this time to work on what the Singaporean lender dubs a “digitalisation transformation” which will involve harnessing robotic process automation (RPA), according to a statement from the firm. In June, IBM helped DBS to set up a new centre of excellence (COE) for its RPA programme in Singapore and optimise more than […]

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Credit Suisse is employing live robots or “bots” within its private bank in the region to drive operational efficiency and reduce human errors, Christian Huber, Credit Suisse Private Banking’s APAC COO tells Asian Private Banker. “We realised that when 10% of an employee’s work involves a repetitive task, this cannot be centralised through, for example, business delivery centres,” said Huber. […]

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Bank of Singapore’s assets under management (AUM) and transaction volumes jumped by 12.6% and 60% respectively in the first half of the year. Eddy Tai, the Singaporean private bank’s global head of operations and technology, tells Asian Private Banker about the bank’s investments in its core platforms, which are being made to handle its “tremendous growth” and to raise efficiencies. […]

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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 […]

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