Thailand is the third location in Asia Pacific after Singapore and Hong Kong where Credit Suisse is rolling out its digital platform. The solution will allow the lender to provide digital wealth management services to its current and next generation of customers.
The wealth management platform will give the bank’s customers access to comprehensive information about their accounts, market insights and intelligence relevant to their portfolio. It will also offer trading tools to allow customers to respond to moving markets across 30 bourses globally.
Customers can access the platform on their iPad, iPhone, web browsers, and devices operating on Google Android through the Credit Suisse Private Banking Asia Pacific app.
Credit Suisse head of private banking Southeast Asia Benjamin Cavalli said: “Thailand is the third rollout location in Asia of our Credit Suisse Private Banking Asia Pacific app, following Singapore and Hong Kong.
“We are confident that our clients in Thailand will welcome and quickly adopt this additional digital wealth management channel as our clients had across the region. During 2016, the number of clients using the App increased by more than six times, on average they log in more than eight times a month, spending more than 10 minutes per login session, with the most active user logging in more than 100 times a month.
“The volume of equity transactions placed by clients via the digital platform have also increased more than eight times, and in some instances, more than half of the total equity trades were placed by clients via the app, as compared to via email or phone,” Cavalli added.
Credit Suisse launched its wealth management set up in Thailand in May 2016, targeting HNWIs with assets more than $2m, and ultra-rich with asset of $50m, or $250m in net wealth.