Awards for Distinction 2017 – Best Private Bank – Digital Experience



Credit Suisse


Christian Huber

Chief Operating Officer Private Banking Asia Pacific, Credit Suisse

“In 2017 we focused on three priorities: increase user penetration on our client platform, deepen user ‘stickiness’, and continue to enrich the digital experience for both our clients and relationship managers. We reached major milestones with all three. While we doubled our digital private banking user base in the Singapore and Hong Kong booking centers in 2017, we also rolled out digital private banking to clients in Thailand and Australia. Our clients are increasingly engaged on the digital platform, with trading volume quadrupling year-on-year. We further enriched the digital platform by partnering with a fintech Canopy to bring its account aggregation solution to our ultra-high-net-worth and family office clients, while also launching “Credit Suisse Invest” an industry-first advisory mandate solution that is enabled on the digital platform where clients can conveniently access their portfolio.”

Winners rationale

In Asia, private banks understand that their future relevance depends to a large extent on their ability to adapt to new technological realities and, fundamentally, to meet the digital demands of Asia’s tech-savvy wealthy. Even so, few banks have managed to push past the initial phase of uprooting core banking systems and ensuring that their infrastructure can adapt to new and emerging technologies, let alone rolling out digital solutions that contribute to revenue growth.

To this end, Credit Suisse has once again shown itself to be light years ahead of the peloton.
With the launch of its multi-channel, digital private banking platform in 2015, it became one of the first few private banks in the region to deliver a comprehensive digital experience to its clients that has only gone from strength to strength over the last two years. In 2017, the bank made significant additions to the platform, including strengthening its RM-supportive functions by adding a front-to-back automated client onboarding application and a customer relationship management (CRM) tool.

Besides rolling out digital private banking in Thailand and Australia, Credit Suisse also made tweaks to its client-facing app, providing access to Android users, introducing a login process with additional security using biometrics and implementing a “Go Green” policy whereby selected statements and advice are now accessible in electronic format.

2017 was also a landmark year for the bank on account of two headline tech initiatives. The launch of Credit Suisse Invest in Asia was notable for its timing – only now is the discussion around digitised flat-fee advisory and retrocession-free offerings gathering pace – and for the fact that it was rolled out on its digital private banking platform, thereby making it available to clients via mobile and tablet apps from the outset.

Credit Suisse also became the first private bank in the region to offer its clients using its digital platform direct access to an automated account aggregation and reporting tool through its partnership with Singapore-based fintech firm, Canopy. The tie-up – which has stirred interest among its competitors – provides clients with an overview of their aggregated portfolio across multiple institutions and enables Credit Suisse to better meet investors’ needs in a holistic manner.

Ultimately, user engagement with Credit Suisse’s digital tools continues to increase, with login rates up significantly, app trading volumes quadrupling, and the total number of users doubling in YoY terms.

Contact Us
All awards related enquiries to
+852 2529 4277