Investment bank Credit Suisse has teamed up with Privé Technologies to improve its offering to external asset managers (EAMs) in Asia Pacific.
Privé is a software company based in Hong Kong that specialises in digital wealth management solutions.
The collaboration will see its digital tools and services being made available to the Credit Suisse.
Industry with rising demand
“In Asia Pacific, the industry has been growing rapidly, with current assets under management estimated at over $90bn (£71.2bn, €80.3bn) in Hong Kong and Singapore,” said Sascha Zehnter, head of external asset managers, private banking Asia Pacific at Credit Suisse.
“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.”
The journey to digital
Charles Wong, co-founder and co-chief executive of Privé, said: “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 advisers in the wealth management industry for them to have access to, and create, their own digital private banking system.”
