The demands of High Net Worth Individual (HNWI) customers, or individuals with minimum financial assets of US$1 million for professional private banking services doubled. According to the latest report by Capgemini, a French business consulting agency, in relations to demanding professional private banking services, there is a 45% increase towards booking more wealth with wealth managers focusing on growing their wealth. In Asia Pacific Region, Indonesian HNWI have the highest demand for sophisticated digital tools. In addition, according to Credit Suisse Global Wealth Report 2015, Indonesia have higher expected growth in wealth population than SG and HK, with 54% increment of the number of HNWI by 2020.
Along with the growth of wealth and HNWI population in Asia, DBS Bank acquired and integrated ANZ Bank across five countries that have successfully completed this year, and with that, more than 100,000 wealth clients were added to their base. In the first quarter of 2018, assets managed under the wealth management have increased by 22% q-o-q to SGD208 billion including from ANZ Bank. The wealth management client segment income also grew 28% to SGD663 million.
Related to the increase of wealth and population of HNWI, Bank DBS Indonesia realize that HNWI customers have unique needs compared to the retail or corporate banking customers. In this digital era, HNWI is more concern about data breach and banking crime based on technology, transparency of information, and detailed information in a real time. The needs of HNWI customers nowadays suited the ‘Live More, Bank Less’’ vision from Bank DBS Indonesia. Furthermore, banking in the digital era provides insights and information for customers which can be leveraged for investment opportunities. This includes having access to current portfolios and performances, also curated research and investment outlook that suited their preferences.
“In line with DBS’s mission to make banking joyful and enable our clients to ‘Live more, Bank less’, TPC places our clients in the heart of everything we do. We are committed to delivering unique experiences and helping our clients meet their financial and life aspirations. We identified four key principles that are quintessential in catering their investment banking needs: sophisticated advisory and depth of expertise, robust insights, the extent of our wealth management solutions, complemented with access and privileges,” said Tan Su Shan President Commissioner of Bank DBS Indonesia.
DBS Treasures Private Client brings clarity in giving insights through curated wealth management solutions that are tailor-made for its clients, supported by a team of experts and dedicated Relationship Manager, in-depth market analyses and innovative banking products.
DBS Treasures Private Client has a strong corporate and commercial network which can be the right solution for investment. The secure transaction and wealth management will be the main focus in the service of this private banking product.
Paulus Sutisna as President Director of PT Bank DBS Indonesia stated that the presence of DBS Treasures Private Client will have the capabilities to fulfill Indonesian HNWI customers. “With ANZ Private Banking segment in hand, we are now redefining our private banking proposition into the next level by leveraging our extensive network across the Asia. Wealth Management business could be one of the best from DBS Bank. Not only DBS Bank have strong footprint in Asia, but also in Indonesia we have been named as The Best Wealth Manager by The Asset magazine for 4 years running. Along with our mission to enable our customer can live more and enjoy through Live More, Bank Less positioning, we confident and believe that our wealth service has more eminency because we know Asian market well.”
Becoming a DBS Treasures Private Client customer with a minimum of 10 billion rupiah of fund can enjoy DBS Asia Treasures membership which has various privileged facilities for its customers. Special facilities that can be enjoyed includes fast track immigration services for international departures and arrivals at Soekarno-Hatta International Airport (Jakarta), Juanda International Airport (Surabaya), and Kualanamu International Airport (Medan), as well as exclusive airport lounge services at Changi International Airport, Singapore and Soekarno- Hatta International Airport. Another facility that will complement DBS Treasures Private Client is a two-way airport transportation service by limousine for the three airports.
“Our full range of product solutions, complemented with dedicated and expert advisory and lifestyle privileges are the things that makes DBS TPC different. A curated solution for each customer with various of investment preferences comprises of product, insight, people, and privileges,” said Wawan Salum Director of Consumer Banking Group Bank DBS Indonesia