DBS automates account opening for new wealth management clients

Source: DBS

In a groundbreaking first that paves the way for the future of banking, DBS Hong Kong today officially launched the first fully virtual wealth management account opening solution.

By leveraging breakthrough technology, including instant identity verification, biometric recognition, and state-of-the-art digital security, this first-in-market innovation offers new customers a true digital journey.

From the comfort and convenience of a smartphone, customers can set up a new multi-currency savings and wealth management account completely digitally. Investments and financial needs can be managed anytime and anywhere, with the peace of mind that comes from banking with DBS, which has been named Safest Bank in Asia by Global Finance for the past 11 years.

With our enhanced iWealth app, customers can invest straight away and enjoy these features:
• Invest in equities across 7 international markets
• Trade 14 foreign currencies in real time 24x7
• Transfer funds same day, across 42 destinations, with HK$0 fees

DBS Hong Kong CEO Sebastian Paredes said, “We have been working tirelessly to offer customers in Hong Kong the first fully digital solution to manage their wealth. This breakthrough is a great leapfrog forward in the nascent virtual banking landscape, and will allow DBS, the Safest Bank in Asia, to provide customers with a seamless digital journey.”

Ajay Mathur, Managing Director and Head of Consumer Banking Group and Wealth Management, Hong Kong, at DBS Hong Kong, said, “The first fully virtual wealth management account opening marks a turning point for time-pressed affluent customers in Hong Kong by saving them time previously spent at branches and completing paper forms. They are now able to open a wealth management account at their convenience and, what’s more, start investing straight away using the iWealth app on their smartphone. Managing their wealth digitally will mean DBS customers will always be a step ahead with opportunities. We have changed the way customers will now bank.”

DBS has been named World’s Best Digital Bank by Euromoney not once but twice. DBS Hong Kong is committed to transforming the way banks serve, engage and interact with customers through FinTech innovation. Together with award-winning DBS Omni’s revolutionary instant credit card application solution, the ability to open and use a new wealth management account completely digitally, offers customers a whole new way to efficiently and effectively manage their valuable time and investment needs.

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