The latest technology news in the wealth management sector from around the world.

Saxo Bank, HSBC
Saxo Bank has teamed up with HSBC to incorporate eGIRO and FAST Direct Debit Solution to support real-time funds transfer into its trading and investing platforms.

The solution, which HSBC first launched in April 2020, helps businesses provide a “significantly faster and simpler one-stop payment journey for their clients,” Saxo said in a statement.

Saxo can now use real-time direct debit APIs to trigger on-demand instant collection. Investors would need to perform a one-time direct debit authorisation electronically via eGIRO.

Previously, investors who needed to top up their investment account after performing trades would need to log in separately into their bank’s account to initiate a funds transfer.  

“We are very happy to be able to launch this for our clients as it will bring a much smoother user experience as they trade and invest in the markets, without the need to leave the Saxo platform. In addition to ad-hoc top ups, this solution also perfectly ties in with our digital asset management solutions and RSP products where recurrent deposits can be easily scheduled again without having to separately log into the bank account, ” Thomas Qvistgaard Hansen, Asia-Pacific chief operating officer, Saxo Markets, said.

In addition to Singapore, Saxo has also co-created solutions with HSBC in Hong Kong to digitise processes.