It was the first anniversary since the roll out of the digital private banking platform. Like any proud parent François Monnet is waxing lyrically about his pet project.
François Monnet it seems is right to feel proud at what he and his team have achieved in twelve months. Now after a demanding approval process by the Hong Kong Monetary Authority (HKMA) they are about to make the platform available to Credit Suisse clients who are booked in Hong Kong.
Speaking with finews.asia Monnet says the initial fears that private bankers could become obsolete via technology has been forgotten and conversely the new technology has brought client and relationship manager closer. Now when the client calls or meets they have real time portfolio information on hand and can more efficiently manage their assets and their time.
Client Acceptance
In the last 12 months, the number of clients using the digital private banking platform has increased more than ten-fold, in particular, the number of users has doubled in the last three months since access has been extended to the iPhone. When Hong Kong goes live in the second quarter that number will leap again.
The Swiss bank has made the digital platform available across multiple devices including the iPhone and web browsers, in addition to the original iPad version. New functionalities have also been added, a Portfolio Risk Analyser, new trading capabilities, market alerts and a biometrics security feature which takes clients straight into their portfolio. Crucially for the Greater China market the Chinese language version is now also ready.
Monnet on the Move
Monnet has been responsible for driving Credit Suisse's digital private banking solution in Singapore where the bank set up an Innovation Hub, with a development team of around 200 employees and vendors working closely to develop and further enhance the platform.
For Monnet it seems the roll out in Hong Kong can’t come quick enough, he is bursting with enthusiasm about his sponsored project. You get the feeling it is because he knows it is operating well. Working to such an extent that the digital private banking platform is now also having a growing influence on winning new business from rivals.
In recent months since the Zurich headquartered bank handed the APAC divisions more autonomy, Helman Sitohang and Francesco de Ferrari have been in the spotlight. But keep an eye on François Monnet, he clearly understands and embraces the digital offering and is delivering what the clients appear to be wanting and furthermore by creating more revenue and client engagement his influence will continue to grow.
