HSBC Singapore Announces Digital Wealth Management Solutions

Two solutions are part of the bank’s doubling of investments into digital over the past two years to better support its retail banking proposition.

HSBC has expanded institutional analytical capabilities to retail investors in Singapore through its HSBC Wealth Portfolio Plus application, which launched in December, and is introducing the HSBC Structured Product Online Platform from Q1 2020 to allow accredited investors to invest in structured products offered by the bank, it announced in a statement on Wednesday.

Given their work and lifestyle choices are no longer confined to one single market or region, our customers expect banking tools and wealth solutions that match their personal circumstances, Anurag Mathur, HSBC Singapore’s head of Retail Banking & Wealth Management, said about the new digital solutions the bank is rolling out.

In the past two years, HSBC has made significant investments in enhancing its digital capabilities globally. In the first half of the year, HSBC spent $2.2 billion on digital solutions, up 17 percent from the same period for 2018, the bank said. A considerable proportion» of its investments in this area has been in Singapore, one of the bank’s eight scale markets.

Singapore is often used as the pilot site for the development of digital solutions that will strengthen our foothold as the Asian wealth hub serving HSBC customers with international needs, Mathur said.