DigitalCFO Asia, Singapore's Wealth/Ultra-rich Population Growth and Digitalization Activities in the Wealth Management Area

Singapore's Wealth/Ultra-rich Population Growth and Digitalization Activities in the Wealth Management Area

(DigitalCFO Asia)The pandemic hastened the digitalization trend throughout businesses, including the financial sector. The wealth management sector, in particular, is extremely relationship driven, with a lot of traveling and face-to-face interactions. Shilpi Chowdhary, CEO of Lighthouse Canton, spoke with DigitalCFO Asia about how they have been working on digitizing operations. He shares how the pandemic has accelerated their efforts to create a better client experience, more transparency and clarity for clients, and greater efficiencies for Relationship Managers.

Digitising Operations within Financial Institutions Messaging apps have been brought to the forefront as another way for relationship managers to communicate directly and securely with clients. While chat messaging itself is a fairly ordinary day-to-day technology, not many players in the industry are using it to its full potential. Even though clients were becoming increasingly used to conversing with their relationship managers through WhatsApp and WeChat, they still need to confirm their orders over phone or email. We identified this as a point of friction within the client experience and wanted to make this as seamless as possible. Thus, not only have we now provided an official secure channel for clients to chat with their relationship managers, we have also integrated automation processes that allow for clients to...