Credit Suisse in digital drive in Singapore

Credit Suisse in digital drive in Singapore

Credit Suisse in Singapore has launched two solutions in the digital space to keep up with consumer expectations: digital client on boarding for private banking and automated account aggregation and reporting.

Digital client onboarding for private banking

Credit Suisse describes the new development as an automated, fully integrated front-to-back digital client onboarding application within its private bank. This will be deployed in Singapore, for use by relationship managers onboarding clients domiciled in the country. The bank hopes the application, delivered over a tablet (currently an iPad), will significantly improve the client experience and result in more efficient processes.

“We are seeing excellent progress in terms of client adoption and client engagement through our digital private banking platform. We will continue to strengthen our digital service offerings, not only for clients but also for our relationship managers,” states Christian Huber, COO, private banking Asia Pacific at Credit Suisse.

“We are transforming our front office technology platform and tools, including digitalising key business processes.”

He describes the latest product as “a key initiative” for the bank.

Automated account aggregation and reporting

Also in Singapore, Credit Suisse has signed for the Canopy software delivered by local fintech firm Mesitis. The software enables Credit Suisse’s clients to aggregate bankable and non-bankable assets across several geographies and asset classes. Canopy can also provide “sophisticated analytics and insights” to the bank’s customers.

Francesco de Ferrari, Credit Suisse’s head of private banking Asia Pacific and CEO Southeast Asia and Frontier Markets, says the bank has been “refining its digital offerings” over the past two years through its digital private banking client feedback programme.

“Many of our high-net-worth and ultra-high-net worth clients have indicated they would like to have a single portfolio view available in one place, and to be able to plan, analyse and track their wealth across multiple institutions and asset classes,” he explains. “Our collaboration with Mesitis is an important milestone.”

By Soumik Roy, editorial contributor to Banking Technology