HSBC U.S. Private Banking has chosen technology platform Addepar to upgrade its client performance reporting activities.

The tech vendor will offer various solutions, including end-to-end portfolio views and improved analytics, to the wealth and personal banking unit of HSBC.

The solutions will enhance the client experience as well as advance reporting on private and alternative investments.

In addition, the platform will use multi-currency capabilities. It will also offer customised reporting to enable global high-net-worth and ultra-high-net-worth clients and family offices to meet their innovative requirements.

HSBC head of investments and wealth solutions of WPB US and Americas Jessie Zhu said: “This new partnership with Addepar combines best-in-class technology with advanced analytics that will help us best serve our clients based around the world.”

HSBC’s U.S. Private Banking currently caters to both local and global high-net-worth and ultra-high-net-worth clients as well as family offices

It is said to have $65bn in assets under management.

Addepar CEO Eric Poirier said : “Investment professionals are facing constantly shifting environments and markets as they navigate the current financial landscape, with a need for technology and quality data being more acute than ever.

“We are thrilled to partner with the forward-thinking team at HSBC to bring Addepar’s category-defining platform to their U.S. Private Banking business.

“The scalability, flexibility and security of our platform unlocks the ability for us to serve the fast-changing needs of the largest banks around the globe, and in turn, for them to provide exemplary service to their clients.”

Addepar currently provides solutions to over 800 family offices, registered investment advisors, private banks and large financial institutions throughout 30 nations worldwide.