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Credit Suisse empowers its Asian private banking customers with new app

Nurdianah Md Nur | March 18, 2015
The app will provide clients with their account information, market insights relevant to their portfolio, and tools to help them better connect with their relationship managers.

Credit Suisse private banking mobile app
Credit Suisse Private Banking app's home page on an iPad. Credit: Credit Suisse

Credit Suisse's private banking clients in Asia are now empowered to confidently make informed investment and trading decisions with the bank's new app.

Called the Credit Suisse Private Banking app, it will enable clients to have round-the-clock access to their accounts, market insights and intelligence personalised according to their portfolio. The app will also feature trading tools to enable clients to respond to moving markets, as well as collaboration tools that allow clients to connect with their relationship managers and the Credit Suisse team. The collaboration tools include instant messaging, audio and video call, screen and document sharing, as well as document annotations.

Credit Suisse bank app relationship manager
No time to meet face to face with your relationship manager? Why not call him/her on your iPad to discuss your concerns?Credit: Credit Suisse.

At the launch in Singapore today (18 March 2015), Francesco de Ferrari, Credit Suisse's Head of Private Banking Asia Pacific, said that the app will enable the bank to scale in the region and deliver more value to its customers. "Asia Pacific is the fastest growing region for our private banking business but we face the challenge of having an insufficient talent pool to cater to the demand in wealth management services. While there about seven million millionaires in Asia, there are less than 10,000 licensed relationship managers in major financial centres such as Hong Kong and Singapore."

"A digitalised multi-channel service delivery model will bring the relationship manager and bank significant gains in efficiency and higher value-added productivity, as well as enable us to serve our clients better and cultivate deeper client relationship." He added that the app should be used to complement and add value to the conversations between relationship managers and their clients.

Putting the customers first
"The new private banking app is not just a tool but is part of the transformation of our new service model," said Francois Monnet, Credit Suisse's Chief Operating Officer for Private Banking Asia Pacific. He added that the bank is in the midst of redesigning the way in which it interacts with, curates content for and advises its client.

In line with the transformation, Credit Suisse adopted a client-centric approach when developing the app. The bank tested the app with about 100 clients across the region and used the feedback to define the value proposition, features and user experience of the first release of the app. "We designed, developed and prioritised the features of our first product release based on what these clients expect from our bank and digital offering," said Monnet.


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