The Singaporean lender registered a 406 percent year-on-year increases in online purchase of investment products in the first quarter, in the midst of an ongoing pandemic.
Gold and unit trust products were major contributors to the quadrupling of digital investment purchases, according to a UOB statement, driven by increased content.
In line with increased purchases, viewer traffic from the bank’s investment advisory videos also quadrupled as investors sought opportunities from the coronavirus pandemic.
PAT
According to UOB's Singapore head of personal financial services, Jacquelyn Tan, investors had used the bank’s advisory platform, Portfolio Advisory Tools (PAT), which leverages 12 years of historical market data to simulate various market scenarios.
Functionalities aside, the platform has proven to be an effective means to lure adoption for its 500-strong stable of wealth advisors. According to the bank, one in four onboarded to PAT for the first time eventually become active users.
