The bank joins other players in providing digital wealth advisory with its new SC Goals Planner app, now available on SC Online Banking and SC Mobile.
Standard Chartered has launched a free, do-it-yourself online financial planning solution developed in collaboration with Singapore-based fintech BetterTradeOff, which advanced leverages data analytics for clients to make data-led decisions when it comes to wealth planning, the bank announced in Wednesday.
The SC Goals Planner app allows customers will be able to independently plan and track their financial goals through real-life simulations and insights specific to their life stages and financial status. Users will also be able to educate themselves on the planning process and financial fundamentals, the announcement said.
More Interest in Planning
Banks have been quick to capitalize on the heightened interest in wealth planning – Julius Baer also launched its digital advisory platform in Asia this week, while DBS rolled out personal digital advisory to its financial planner last week.
Standard Chartered said there has been more interest in better financial planning as a result of the pandemic. Through the platform, Standard Chartered hopes to «close the financial literacy gap and empower clients to play a more active role in their financial planning.»
«This is one of the many steps we are taking to strengthen the client-bank wealth and financial planning dialogue,» Eugene Puar, head of wealth management, Singapore, ASEAN and South Asia said.
White Label Solution
Singapore-based BetterTradeOff (BTO) was founded in 2015 and offers a software-as-a-service (SaaS) life planning tool to clients through a white-label enterprise solution. It currently operates in Hong Kong, Singapore, Philippines, UAE, and Switzerland.
