Corporate Press Release
Credit Suisse announces collaboration with Privé Technologies to help External Asset Managers in digital transformation
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. Through our collaboration with Privé, we are reaffirming our commitment to EAMs in the region by helping to develop the next generation of EAM wealth management technology solutions including automated portfolio management and reporting, order management and execution, risk profiling and suitability, as well as content generation capabilities."
Commenting on the bank’s digital innovation journey, Werner Schlossmacher, Head of Platform Management Asia Pacific at Credit Suisse said, "Credit Suisse is committed to providing best-in-class products and services to our clients. We have been at the forefront of the digitalization evolution of the wealth management industry, and are an early mover in digital innovation. As we progress on our journey of digital innovation, Credit Suisse continues to collaborate with technology companies to provide the latest solutions to our clients. We are very excited about this collaboration with Privé and our joint efforts to deliver better technology solutions to EAMs in the region."
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."
# Asian Private Banker 2018 IAM Report