Credit Suisse today announced a collaboration with Privé Technologies (Privé), a Hong Kong-based digital wealth management solutions platform provider for financial institutions, to provide External Asset Managers (EAMs) access to better wealth management technology solutions.

The collaboration with Credit Suisse will enable Privé to further enhance their wealth management platform for EAMs including content generation, risk profiling and suitability, order management and execution capabilities.

Privé was also recently recognised by Fintech News Hong Kong as on of the top wealthtechs operating out of East Asia.

Commenting on the collaboration, Sascha Zehnter, Head of External Asset Managers, Private Banking Asia Pacific at Credit Suisse said,

“We are a leading player in serving the EAM industry globally with an established and extensive footprint. In Asia Pacific, the industry has been growing rapidly, with current assets under management estimated at over US$90 billion in Hong Kong and Singapore. In this evolving business environment, process automation and technology solutions will become increasingly important for EAMs to better serve their clients, to increase operational efficiency and improve risk management controls.”

 

Credit Suisse launched the first digital private banking solution in the region in 2015, and partnered with the fintech company Canopy in 2017 to make accessible to its clients an automated account aggregation platform and reporting solution.

Recently, the bank launched Credit Suisse Chat, a proprietary in-house chat platform which allows its relationship managers to communicate with their clients through their preferred messaging channels in a secure and compliant environment.

Charles Wong, the Co-Founder and Co-CEO of Privé, said,

“We are delighted to collaborate with Credit Suisse, which is not only an industry leader in the EAM space, but also at the forefront of digital wealth management. We believe that the wave of digital transformation in the EAM industry in Asia is just beginning. Our vision to accelerate the continuing growth of the EAM ecosystem can be achieved through working with global leaders, such as Credit Suisse, to relentlessly provide the most cutting-edge technology for advisors in the wealth management industry for them to have access to, and create, their own digital private banking system.”

Featured image credit: Edited from Unsplash