Falcon plans to feather more nests with new digital platform
Zurich-based Falcon Private Bank has unveiled a new digital platform, Falcon Pulse, as it looks to boost its ambitions in wealth management.
Main features will include an algo trader that daily rebalances a portfolio’s asset allocation to “optimise” performance as well as an idea generating tool that will screen market information to offer the “best investment opportunities” for its clients. Falcon says it also plans to introduce a new e-banking and mobile banking app.
Falcon CEO Martin Keller says: “We are convinced that this strategy will deliver value, higher performance and a new level of convenience for our clients. Our digital competence will be a true strategic differentiator in the market.”
This latest development follows its partnership with Move Digital, announced in April, and its blockchain asset management solutions introduced in July with crypto financial broker Bitcoin Suisse.
As part of its “strategic repositioning”, Falcon has also changed its brand appearance and launched a new website. It appears to be channelling the spirit of James Bond’s Goldfinger with the black and gold look.
For its core banking system, Falcon uses the Avaloq Banking Suite.
Last year, Falcon’s wings were clipped when the Monetary Authority of Singapore (MAS) withdrew its merchant bank status of its Singapore branch for “serious failures” in anti-money laundering (AML) controls and “improper conduct” by senior management at the head office in Switzerland as well as the Singapore branch.