Credit Suisse Group AG plans on making it more simple for wealthy clients in Singapore and Hong Kong to communicate with its private bankers by incorporating Apple Business Chat into its digital platform. Apple Inc. services will be enabled for the Zurich-based bank’s clients to use, which includes the capability to obtain information on their account balances and portfolios, or on the status of their transactions, according to a statement on Tuesday by the lender.
“Approximately 95 percent of our clients booked in Asia who access our digital private banking platform are users of iPhones or iPads, so they can now communicate with us anytime anywhere through their preferred chat channel,” Francois Monnet, head of private banking for North Asia, said in the statement.
Banks located around the world are continuously grappling with the issues of communicating with clients using mobile messaging platforms due to these platforms allowing employees to avoid officially monitored phone and email systems. For example, a former Jefferies Group LLC banker was ultimately fined in the United Kingdom for sharing confidential information on WhatsApp last year.
The statement release said that Credit Suisse bankers will gain access to the client messages over the firm’s in-house chat platform “with the conversations taking place in a secure and compliant environment.” Last month Singapore’s DBS Group Holdings Ltd. unveiled a service which allows wealthy clients in Asia to connect with their relationship managers through WhatsApp and WeChat.
Credit Suisse will add more booking centers and new functions during the next phase of the program. Some new functions include allowing clients to place trade orders, submit forms and update their personal details. Bloomberg reached out to Credit Suisse spokeswoman Edna Lam, and later discovered WhatsApp and WeChat will also be added to its internal platform. WeChat is currently owned by Tencent Holdings Ltd., while WhatsApp is owned by Facebook Inc.