Three new online simulators for Wealth Lending will help clients better assess portfolio resiliency.
Standard Chartered Singapore is introducing three scenario-based digital simulators for clients to help them streamline their investment decision process, the bank announced on Tuesday.
Co-created with clients, the simulators, which cover investments, bancassurance, and the overall wealth lending portfolio, help clients visualize how factors such as market movements and FX volatility can influence the performance of their portfolios and show them the potential returns and associated risks of leveraging quality assets.
The facility also allows clients to calibrate their portfolios based on the financial circumstances, goals and needs. The transparency enabled by these tools and the emphasis placed on both risk and returns also help relationship managers educate clients on the benefits and risks of wealth lending, the announcement said.
Improving Client Journeys
Standard Chartered said it developed the simulators following an in-depth qualitative study with 30 clients on their investment experiences, in which they expressed concerns about the resiliency of their wealth lending portfolios in face of market stress events, portfolio performance and margin calls.
«Since the soft launch, clients have provided feedback that they have better knowledge of what the facility provides and greater confidence in using it when investing. This has resulted in a stronger take up of the facility,» Sumeet Bhambri, regional head of wealth management, ASEAN and South Asia and head of wealth management Singapore, Standard Chartered Bank, said.
Digital Growth
In June, Standard Chartered Singapore said it expects digital services to be a key growth driver for its Retail Banking business in Singapore this year, as digital adoption rates in Singapore hit historic highs in the first four months of 2020.
It also said its Wealth Management arm was seeing a strong migration to digital and strong growth on its digital investment platforms amid the Covid-19 pandemic, with the number of transactions and volume increasing by over 200 percent year-on-year.
