UBS introduces wealth management app in Asia

Added 15th June 2015

UBS introduces wealth management app in Asia

The firm said the app tracks a client’s portfolio, tests it against critical risk factors and sends a notification when the portfolio deviates from the client’s investment strategy.

It was developed in response to increasing client preferences for digital solutions in Asia. 

"We believe Asian clients are more digital than in other parts of the world, with almost 40% preferring digital contact over direct contact,” said Ketan Samani, chief digital officer of Asia-Pacific.

“We need to be ahead of the curve in anticipating the needs of our clients in offering better and faster ways of accessing our services.”

Wealth managers in Asia have an opportunity to tap wealthy investors in the region who are increasingly relying on digital media as a source for investment knowledge and ideas, according to a recent study by M&G Investments.

UBS WM is also opening "Evolve", a Singapore-based centre for sharing best practices and ideas among the banks' clients, industry experts and academia, the firm said. 

It set up a similar innovation lab in Zurich in last year and one recently in London.

UBS also recently received permission from the Taiwan Financial Supervisory Commission to launch its wealth management service in Taiwan.

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