Alliance Bank Malaysia to launch digital wealth platform with 24/7 client portfolio access



Publicly traded banking and financial institution Alliance Bank Malaysia Berhad has announced its partnership with software house and IT services provider Comarch to launch a digital wealth platform.

The Comarch Wealth Management system will allow the bank’s customers to view their financial information, including their investment portfolio, insurance policies, loans, and other financial products, through the allianceonline mobile app 24/7.

The platform will support digital communication and interaction through chat and video-conferencing capabilities between relationship managers (RM) and their clients, enhancing the client-bank relationship.

Clients will benefit from the investment offering through digital channels, utilizing an API library to access a consolidated wealth picture, place orders, and authorize recommendations from the RM channel, according to the announcement.

The digital wealth platform forms part of the Malaysian bank’s efforts to transform its wealth management services by providing digital wealth investment advice and enhancing its technical and business capabilities.

In the next five years, Alliance Bank Malaysia targets to grow its wealth management business by doubling its current compounding growth rate, according to Kellee Kam, Group Chief Executive Officer of Alliance Bank.

“With our strong belief in the ongoing expansion of the wealth segment in Malaysia, we see the wealth management platform as an important tool that will allow us to deliver a compelling digital wealth proposition to better serve our clients,” Kam said.

Comarch, which has over 30 years of experience as a software and IT services provider, expanded its operations in Asia by establishing offices in Thailand, Malaysia, South Korea, and Japan. It is headquartered in Poland.

The wealth management system that it will launch with Alliance Bank will include various functionalities, such as Advisor Front-Office, which supports crucial bankers’ activities, including client and task management, 360-degree customer views, sales support, campaign management, investment advisory, and more.

“The cooperation with Alliance Bank gives us the opportunity to expand further into the ASEAN market. Our wealth management solution, well-proven in European markets, is a compelling choice for the most innovative banks in Asia,” said Andrzej Przewięźlikowski, Board Member of Comarch Financial Services Division.



Related Content

Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

Media Kit

    Data Protection

    The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

      Error: Contact form not found.

      The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

      Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

      Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

      The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

      Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

      Request Nomination Pack

      Error: Contact form not found.