The move follows a similar step in Singapore by the Swiss bank.

Credit Suisse today has unveiled new upgrades to its digital private banking platform in Hong Kong as part of an Asian expansion, based on its partnership with fintech firm Canopy in which the Swiss bank bought an equity stake late last year.

Canopy is an automated account aggregation platform and reporting solution. Canopy was first rolled out to the bank’s Singapore-booked clients in 2017. The offering gives a “complete picture” of clients’ wealth, such as quickly seeing changes in overall net worth, tracking the top and bottom portfolio movers and comparing performance against market benchmarks. Users can also see the effect of fund flows and currency shifts.

The Zurich-listed bank, which has made a point of focusing more on the Asian market in recent years, launched its digital private banking platform in Hong Kong two years ago, following a rollout that started in Singapore. (It is notable that Asia was the region for the initial launch, rather than Switzerland or other parts of Europe.)

“The platform is one of the key enablers of our business growth in Greater China. In 2017, our Greater China Private Banking business grew robustly with Assets under Management and revenues increasing more than 20 per cent, with profitability more than doubling year-on-year,” Francois Monnet, head of Greater China, private banking for Asia-Pacific and CEO of the Hong Kong branch, said.

Tanmai Sharma, founder and chief executive of Canopy said: “Most high net worth clients have five or more banks they work with. For clients to understand the performance, risk and asset allocation in their portfolios across all the banks is almost impossible. This is where Canopy offers a solution. Canopy aggregates the data from all banks and is able to process all formats including pdf.”

“To support the Hong Kong rollout we have released Canopy in both traditional and simplified Chinese so that clients can see the investments in their preferred language,” Sharma added.

Credit Suisse first launched its digital private banking solution in Singapore in 2015, followed by Hong Kong in 2016, Thailand and Australia in 2017.

Since the platform was launched in Hong Kong, the number of clients in Greater China using it has grown 38 times, while more than doubling in 2017 alone. Clients are increasingly engaged, on average logging in every two to three days, Credit Suisse said.

In the first four months of this year, more than 40 per cent of all equity orders are placed by clients directly via the platform, it added.