HSBC Private Banking has launched a secure messaging platform to facilitate clients’ communication with RMs and investment counsellors (ICs). The functionality dubbed as HSBC GPB Chat allows clients to communicate with RMs and ICs through the channel of their choice, including WhatsApp and WeChat, with functions such as two way document sharing and video or audio conferencing. In the next […]

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Two years ago to the month, Credit Suisse launched CS Chat, a tool that enables instant and compliant communication between relationship managers (RMs) and clients in Asia, without requiring clients to adopt a native Credit Suisse chat app that is not part of their daily diet. But even during early design stages, the Asia-based team behind the tool were asking […]

The post Credit Suisse Chat usage surges as bank adds WeChat functionality, improves desktop integration appeared first on Asian Private Banker.

Palo-Alto based communications and technology firm Symphony aims to provide wealth managers with “a trusted network” for communication and product-selling, as it partners up with instant messaging platforms. David Gurle, founder and CEO of Symphony Communication Services, told Asian Private Banker that the firm’s first such partnership with Tencent’s WeChat has achieved “seamless connection” between wealth managers and their clients, […]

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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 […]

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

UBS Global Wealth Management (GWM) has launched UBS Advisor Messaging in APAC to better secure client-RM communications over third-party messaging platforms such as WhatsApp and WeChat, according to the bank’s APAC wealth management operating head, Wiwi Gutmannsbauer. “We expect interacting with advisors to be easier and more frequent,” Gutmannsbauer told Asian Private Banker. “We always start with the client experience. […]

The post UBS “adapts” to clients with third-party instant messaging platform: UBS’s Gutmannsbauer appeared first on Asian Private Banker.

Instant messaging apps catered to wealth management institutions are not a surefire way to solve the problem of unrecorded conversations by relationship managers and their clients, according to a partner at a Hong Kong law firm. As private banks attempt to balance offering clients convenience via instant messaging platforms such as WhatsApp and WeChat and adhering to compliance and record-keeping guidelines, Richard Keady, partner […]

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The Securities and Futures Commission (SFC) has issued a circular demanding that intermediaries maintain a “centralised record” while ensuring proper authentication when it comes to receiving client orders through instant messaging (IM) tools. Published last Friday, the SFC said intermediaries should implement appropriate measures in areas including centralised record keeping, the authenticity of clients’ identities when taking investment orders, compliance […]

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Asia’s HNWIs are using smartphone apps to communicate with relationship managers, and bankers are responding. This is causing problems for private banks, which must revisit their digital client communication channels, especially as regulators clamp down on investment suitability processes. “It was only inevitable that HNW clients turned to WhatsApp and WeChat to reach out to their bankers because of sheer […]

The post WhatsApp messaging between RMs and clients raising compliance concerns appeared first on Asian Private Banker.

UBS Wealth Management has inked a deal with a Singapore-based tech firm to develop a secure communication platform for the lender’s relationship managers and clients, aimed at resolving the “massive problem of client inconvenience”, says Ketan Samani, chief digital officer at UBS Wealth Management Asia Pacific. In an exclusive conversation with Asian Private Banker, Samani adds that the recording tool […]

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