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HNWIs’ preference for instant messaging is “a pain point unique to Asia”: FinChat

Private banking clients in Asia have a strong preference for instant messaging platforms compared to their Western counterparts, spurring private banks in Asia to incur compliance and regulatory costs to cater to clients’ needs and improve efficiency, according to fintech firm FinChat. “The compliant instant messaging service is driven by the phenomenon here in Asia,” Bill Eng, CEO and co-founder of…

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