Swiss banking group Credit Suisse has teamed up with Hong Kong-based digital wealth manager Privé Technologies to facilitate the digital transformation of external asset managers (EAMs).
The alliance is said to support the development of EAM wealth management technology offerings.
These include content generation, risk profiling and suitability, order management as well as execution capabilities.
In the recent years, Credit Suisse has made several initiatives to strengthen its position in the digital arena.
The bank first rolled out its digital private banking platform in 2015 in Singapore.
The platform’s reach was expanded to Hong Kong a year later.
Besides, Credit Suisse struck a partnership with Singaporean fintech firm Canopy.
The aim was to offer Canopy’s automated aggregation and reporting platform to the Hong Kong clients of Credit Suisse.
Last year, the bank integrated Apple Business Chat into its private banking app for clients in Singapore and Hong Kong.
Credit Suisse head of EAM of private banking Asia Pacific Sascha Zehnter said: “In Asia Pacific, the industry has been growing rapidly, with current assets under management estimated at over US$90 billion in Hong Kong and Singapore.
“In this evolving business environment, process automation and technology solutions will become increasingly important for EAMs to better serve their clients, to increase operational efficiency and improve risk management controls.”