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

HSBC
Yesterday, HSBC Private Bank unveiled its Wealth Intelligence offering – a “generative AI-powered ecosystem” – for client-facing staff members, investment counsellors and product specialists.

Powered by OpenAI’s Large Language Model (LLM), Wealth Intelligence is HSBC’s proprietary AI-powered ecosystem built by its in-house developers. 

The platform is designed to analyse and summarise the bank’s research reports and external news feed, currently comprising more than 10,000 data sources, HSBC said in a statement.

Wealth Intelligence offers fast and simple access to reports from the bank’s chief investment office.

In the next stage of its development, Wealth Intelligence will be able to screen and identify suitable products for the bank’s wealth management teams so that they can discuss investment options and asset allocation recommendations with clients.

“With the rapidly evolving financial markets, we understand our clients have stronger expectations for timely, trustworthy and personalised investment advice than ever,” Gabriel Castello, CEO, HSBC Global Private Banking a.i., said.

Once it is rolled out in Hong Kong and Singapore, Wealth Intelligence will be scaled to more markets, HSBC added.

Lavanya Chari (pictured), head of Wealth and Premier Solutions, HSBC, added: “AI adoption is one of our core strategic pillars for enhancing our client experience at scale. By harnessing AI’s analytical power and data delivery speed, we continue to upskill our wealth management talent, transform our workflows and client journeys to support our clients in making better data-driven decisions to achieve their goals.”

Lavanya Chari