PT. Bank Commonwealth, the Indonesian subsidiary of Commonwealth Bank of Australia (CBA), has entrusted Switzerland-based Fintech Additiv with delivering the platform for its mobile SmartWealth service.
Widely seen as a game-changer in the industry, Additiv's SmartWealth service provides Premier Banking clients with a 360-degree view of their investment holdings, bank accounts and bancassurance policies, according to a media release sent on Friday.
It also displays relevant financial news, robo advisor-like investment recommendations and the ability to stay in touch with their advisors. Additiv’s technology provided the functionality and flexibility to do this with minimal impact on the bank’s legacy systems.
Guinness Book of Records
In recognition of this innovative solution, PT. Bank Commonwealth (PTBC) also received the prestigious MURI award for best digital wealth management app. MURI (Museum Rekor-Dunia Indonesia) is the local equivalent of the Guinness Book of Records.
«With the robo-advisory feature, customers can monitor their portfolios and optimize investments in a simple, smart and integrated way, anywhere and anytime,» Ivan Jaya, PTBC’s Head of Wealth Management & Client Growth, said.
Important Milestone
«We are particularly proud of our partnership with PTBC whose vision and pioneering spirit we share. The launch marks an important milestone that demonstrates our commitment to the Asia Pacific region and also the strength of our Digital Finance Suite Version 4, the technology underpinning SmartWealth,» Michael Stemmle, Additiv’s CEO, added. The firm also has an office in Singapore.
