Swiss banking giant UBS has introduced a new digital wealth management service platform, dubbed WE.UBS, to lure more wealthy clients in China.  

Launched by the company regional subsidiary, UBS Fund Distribution (Shenzhen) (UBS FS), the mobile application seeks to cover wealthy clients across the region.   

The new app, said to be UBS’ first digital wealth management platform in Asia Pacific, features advanced technological capabilities.

Driven by big data and UBS Chief Investment Office (CIO) analysis, the platform will provide its clients with financial planning and digital service models.

Further, the interactive platform will enable users to complete on-boarding in a short span of time.

Equipped with investor education and round-the-clock market development tracking features, the app will offer a wide range of local and global investment solutions.

In this connection, WE.UBS is also partnering with several businesses and fund houses.

UBS Asia Pacific president Edmund Koh said: “China is leading the way in wealth creation and digital transformation globally.

“As the world’s largest wealth manager, it is our goal to be the leading global wealth manager and the #1 digital-first wealth advisor for our targeted clients in China.”

UBS FS general manager Andy Ho said: “This platform goes beyond a financial institution providing a service or a product. Our ecosystem covers the needs of clients in different aspects of their life with tiered offerings based on the client’s relationship with us. This is unique in China.”

Earlier this year, UBS Group elevated Iqbal Khan as the sole head of the bank’s global wealth management business, effective 3 October 2022.