Credit Suisse takes private banking into the digital age

Credit Suisse takes private banking into the digital age

Fifteen months on the from the initial roll out of its digital private banking platform in Singapore, Swiss bank Credit Suisse is launching an upgraded version for high net worth clients in Hong Kong.

The latest iteration of the app is available to regional clients with accounts in Hong Kong, equipped with English and new Chinese language capabilities, accessible across multiple devices including iPad, iPhone, web browsers, with Android users being able to access the platform via web browsers.

Francois Monnet, Credit Suisse's head of private banking Greater China who also leads the development of the digital private banking project, says: “A digitalised multi-channel service delivery model will bring the relationship manager and bank significant gains in efficiency and higher value-added productivity. In rolling out our digital private banking capabilities, we are redesigning the way in which we interact with and curate content for our clients. It is not just an enhancement to the client experience, but a transformation of our private banking service model."

The new platform provides round-the-clock access to client account data, personalised market insights, risk analytics and trading tools as well as multiple channels of connectivity to the Credit Suisse relationship management team.

The latest release follows a prolonged period of road-testing in Singapore and more than 100 one-on-one conversations with clients across the region and feedback from 80 members of the relationship management team. Operating out of its innovation hub in Singapore, the bank has used agile methodologies to provide a rolling series of updates and refinements, says Monnet, comprehensively reshaping the user interface, design and functionality of the platform.

Says Monnet: "Our data and analytics over the past year from Singapore have indeed shown that we have delivered a digital solution that meets many of our clients’ aspirations in terms of functionality and usability. As a result, the number of clients using the digital channel has increased almost thirty times. They are logging in more often - at all times of the day and night and on average are spending more time on each visit. They are using the platform to access and understand investment opportunities and ideas, and are empowered to act on market opportunities through the trading tool anytime at their convenience. We are confident that the new digital platform will bring significant benefits and efficiencies to all our regional clients whose assets are managed in our Hong Kong hub."

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