The Cutting-edge in Customisation
DBS is leading the way in customer service with its digital platform DBS iwealth
Intuitive technology and a fastidious approach to customer service offered by DBS Treasures Private Client is delivering investors a level of control and insight that is considered top tier. Pearlyn Phau, deputy group head of Consumer Banking and Wealth Management, says DBS has tapped into the digital revolution in banking and rolled out a new platform that is helping to empower its wealth management clients. DBS iwealth offers clients control of their investments online and on mobile devices, as well as delivering access to market insights.
Phau says the bank’s “Asian innovation” leverages technology to bring a greater level of convenience and stronger relationships with clients.
The DBS Treasures Private Client platform combines the simplicity and efficiency of priority personal banking services across the bank’s consumer network with access to innovative investment opportunities previously only available to DBS Private Bank clients.
“While high-net-worth individuals continue to value the professional service and advice of a relationship manager, increasingly, many also look for the convenience and empowerment that comes with being able to conduct banking activities and gather financial insights personally, wherever they may be, at any time of the day,” says Phau.
The DBS iwealth platform places the bank among the first to offer clients the most highly personalised experience available.
“The information is designed to be customer-centric and the navigation through market information and research as intuitive as possible to arrive at what is of most interest to the client,” says Phau.
“With an objective to deliver convenience and accessibility, we have empowered clients with banking that goes beyond the conventional.”
The DBS iwealth platform delivers banking
services, trading and investment tools, accessible through an all-in-one, customisable ibanking dashboard. Dig deeper into the platform and users have access to the Investwise Fund Service and its selection of analytical tools, market commentaries and online offers backed by Morningstar research.
Phau says the bank is investing heavily in the development of an online equity trading platform that allows wealth management clients to trade directly from their DBS ibanking account. The new functionality will permit realtime trades in Hong Kong, the US, Canada and Singapore. Clients will have access to specialist research resources, including screening and comparison tools.
The enhanced digital offering is complemented by DBS Treasures Private Clients’ reputation for solidity. DBS claimed its seventh successive “Safest Bank in Asia” award from Global Finance magazine this year and was also named “Best Wealth Manager, Asia, 2014” by The Asset and “Outstanding Private Bank, Asia Pacific, 2014” by Private Banker International.
Each of the awards acknowledge the bank’s customer focus and heightened level of control delivered through technology. “What we are proudest of is what these awards mean to our clients—they are a testament to the quality, strength and stability of the DBS franchise,” says Phau.
Phau sees the current risk-off sentiment continuing ahead of movement in US interest rates, the devaluation of the yuan and volatility in energy markets.
“For the conservative, holding cash or equivalent, such as a short-term US- or Hk-dollar denominated investment-grade bond, would be one of the investment strategies in the current volatile market,” she says.
“For the aggressive, market volatility means the opportunities to ride on the wave, especially in the stock markets, but please pay attention to risk appetite before taking any action.”
In the longer term, the signs for growth are heading in the right direction. The linkage between the Mainland Chinese economy and global growth will see the continued development of Asian financial markets, and means positive indications for Hong Kong.
DBS was among the first banks to offer offshore yuan-denominated products in Hong Kong and Phau says the bank’s customers are well-placed to capture opportunities arising from the city’s position as the gateway to the mainland.
“We are committed to growing our business in Hong Kong and will continue to expand our network to provide our valued clients with enhanced service and convenience,” says Phau.
“Moreover, we will continue to offer innovative and competitive products and services that cater to evolving needs.”
More information on DBS Treasures Private Client can be found on dbs.com.hk
client focused Pearlyn Phau, deputy group head of Consumer Banking Group and Wealth Management