HSBC Singapore launches new retail banking, investment platforms

Its financial planning and tracking app will have risk and scenario analysis functions.

HSBC Singapore is floating new digital platforms to better support its retail banking and wealth management business, according to a news release.

This follows the $2.2b (S$2.9b) global investment the bank made in H1 2019 to enhance its digital capabilities. As one of the eight “scale” global markets, the Lion City has received a considerable proportion of this investment over the past two years.

Scheduled for launch this month, HSBC Wealth Portfolio Plus is an end-to-end financial planning and tracking app with risk and scenario analysis functions, courtesy of BlackRock’s Aladdin Wealth platform. This is the first app to offer institutional analytical capabilities to retail investors in Singapore.

On the other hand, the Structured Product Online Platform is a solution for accredited investors to invest in structured products offered by the bank. It is slated for launch in Q1 2020.