Swiss Bank Julius Baer awarded Outstanding Wealth Management Technology Implementation – Front End, at the Global Private Banking Innovation Awards 2020

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Julius Baer has been named the winner for the Outstanding Technology Implementation – Front End award at the Global Private Banking Innovation Awards 2020. This marks the 3rd accolade for the Swiss Private Bank’s digital advisory suite, known as DiAS, within six months.

Hosted jointly by The Digital Banker and Global Private Banker, the Global Private Banking Innovation Awards- now in its second year- is the world’s leading authority in benchmarking service excellence and digital innovation across the worldwide private wealth landscape.  Co-judges from EY, Protiviti and Forrester undertook an audit type process to distinguish the world’s preeminent private banks, family offices and wealth managers across numerous categories, including; technology, service innovation, product and strategy, country and people awards.

Julius Baer continues to showcase its prowess through DiAS by blending machine learning algorithms with the bank’s relationship managers to create the best client experience and wealth preservation.

An Award Winning FinTech Platform

The Digital Banker and Global Private Banker judging process follows a numerical and quantitative methodology with specific weighting given to; digital innovation, digital ecosystems, customer experience, financial performance and leadership strategy. For the Outstanding Technology Implementation Front-End category, the esteemed judging panel felt that a platform that improves compliance, automates processes and supports advice with personalised investment proposals, was deserved of the winner’s title. Further, digital acceleration and client centricity made up key criteria for this competitive category and Julius Baer’s DiAS suite demonstrated just that.

“We are looking for best-in-class digital innovation which improves operational efficiencies, end-to-end workflows and delivers a superior client experience, whilst augmenting the overall value of the relationship manager. Julius Baer continues to showcase its prowess through DiAS by blending machine learning algorithms with the bank’s relationship managers to create the best client experience and wealth preservation. Hence, we feel the bank is the deserved winner of this award category. We estimate that robo-advisors will handle anywhere between $7 trillion to $20 trillion assets under management by 2025, up from circa $2 trillion in 2020. Julius Baer has made significant investments in the tech space to improve the client experience”. The Swiss bank will increase its IT investments by approximately 20% for 2020 and 2021. The Digital Banker judging panel.

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About DiAS

Julius Baer continues to invest in technology that powers human advice and to further develop its FinTech assistant, DiAS- a state-of-the-art solution which helps to create tailor-made investment ideas for each client of the bank. DiAS delivers an end-to-end advisory process and in addition, screens the investment universe of Julius Baer, subsequently recommending investment ideas which match clients affinity and regulations on a machine learning basis. The suite acts as a fully integrated solution, ensuring end-to-end advisory process: from proposal, to the execution of a trade. This involves integration with certain order entry tools to ensure trading instructions are transmitted to the booking center without delay.

The award winning FinTech assistant to Relationship Managers allows relationship managers to save time in screening the product universe by identifying new opportunities to be shared with their clients. DiAS goes beyond all previous systems; it is bringing Julius Baer to the forefront of digitisation.

Global Private Banking Innovation Awards

The Global Private Banking Innovation Awards are the world’s most authoritative and transparently judged private wealth awards, setting global industry benchmarks and standards. They exist to identify and distinguish the world’s best in class Private Banks, Family Offices and Wealth Managers that demonstrate elite levels of performance & creativity across; Fixed Income, ESG, Structured Investments, Family Office Services, Discretionary Services, FX & Cash Management, Funds, UHNW, Technology and more.

The world’s preeminent Private Banks are demonstrating unrivalled drive and innovation, developing new products and services to meet the sophisticated needs of their high net worth clients. Some are going beyond providing wealth management by helping their clients future proof their businesses in the digital economy, some are using Artificial Intelligence and Machine Learning capabilities to outperform the industry, but most have acknowledged the undeniable need to accelerate innovation and digital transformation.

Being a honouree of The Digital Banker and Global Private Banker sets organisations and individuals apart – we recognise the world’s preeminent banks and their executives that are at the cutting edge of innovation and their profession respectively. These are the players that raise the bar in service excellence, offer superior products and blend technology with the power of their people to re-invent the industry.

The Digital Banker awards and recognition programs are substantiated by a legacy of editorial accuracy and integrity. Our global readers of The Digital Banker and Global Private Banker magazines depend on them as the authoritative standard of excellence and innovation for the financial industry.

 

 

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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.

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      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.

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      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.

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