Switzerland’s Falcon Private Bank has launched a new digital platform known as Falcon Pulse, in collaboration with fintech firm Move Digital, as part of a strategic repositioning.
The key features of the new offering include an algo trader to rebalance a portfolio’s asset allocation, and an idea generating tool to screen market information for the bank’s advisers.
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As part of the strategic repositioning, the bank also offered a reshaped brand appearance and is set to launch a new e-banking and mobile banking app soon.
Falcon Private Bank CEO Martin Keller said: “First, we want to best leverage the skills and experience of our employees in combination with the latest digital intelligence. Second, we build on the strengths of our DNA as an agile and performance oriented boutique. Ultimately, our new strategy is a solid basis for our future.”
The launch of the new platform builds on the bank’s alliance with Move Digital in April 2017. The bank launched bitcoin asset management solutions in July 2017, in association with crypto financial broker Bitcoin Suisse.
The strategic repositioning comes after the bank being charged for embroilment in Malaysia’s 1MDB state investment fund scandal. Last year, the Monetary Authority of Singapore (MAS) withdrew the bank’s licence and Swiss regulators launched criminal proceedings against the bank in connection with the scandal.
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By GlobalData
