PT Bank UOB Indonesia now offers a unique hands-on advisory service as part of its UOB Indonesia Privilege Banking that is tailored to each client’s unique banking needs 94
study conducted by uob showed that nine out of 10 banking clients in the middle to upper level all expressed their need to know investments risks before returns. Indonesia Tatler talked to the Deposit, Investment, Insurance Sales and Distribution Head of UOB Indonesia, Victor Teja, about the bank’s newest management’s value proposition, A Smart Risk Approach, a risk first approach to manage clients’ investment portfolio. .
How does the “Smart Risk Approach” work for UOB’S Privilege Banking customers? By using the Approach—our Client Advisors first identify the client’s plan when joining UOB. Some of the younger ones want to grow their assets as a planned fund for their children’s school expenses or for business needs. Moreover, the older ones wish to preserve their wealth for their retirement.this process is accordingly to our UOB Privilege Banking first pillar, which is ‘Advice’ to customers.
From here, we use the second pillar— solution—to identify the customer’s risk appetite. With the Smart Risk Approach, UOB Privilege Banking Client Advisor always remind clients about the risks behind each product’s profit potentials. By being honest upfront and building trust, UOB’S customers will appreciate their choice in banking with us.
The third pillar is recognition and access as reflected in UOB’S position as a strong regional bank in Asia that has a big presence not only in Indonesia but also in Singapore, Malaysia, Thailand and China. In Singapore, for example, our Privilege Banking clients can enjoy medical services and limo transfer service as well as a wide network of ATMS services.
What strategies do you use in handling a client’s portfolio using the Smart Risk Approach? From our line of wealth management products, the Approach builds the customer’s investment plan using core or tactical strategies. Core strategy is a long-term plan that assesses deposits and passive income, while tactical strategies are short-term plans by using the market situation. Core is the focused strategy for who wants to preserve wealth—protecting the main assets while supplying some passive income. To grow assets, however, on top of the core strategy we will advise ways to seize market opportunities for more income.