Credit Suisse has partnered with Singaporean account aggregation startup Meisitis to provide clients of its digital private banking platform with a single portfolio view of their holdings across multiple institutions and asset classes. Mesitis' 'Canopy' software aggregates bankable and non-bankable assets across different geographies and asset classes, and provides users with tools to analyse and monitor the performance of their aggregated wealth.
Francesco de Ferrari, Credit Suisse's head of private banking Asia Pacific and CEO Southeast Asia and Frontier Markets says: "Many of our high-net-worth and ultra-high-net worth clients have indicated they would like to have a single portfolio view available in one place, and to be able to plan, analyse and track their wealth across multiple institutions and asset classes." Credit Suisse's global digital private banking service was one of the early outputs of the Swiss bank's innovation hub in Singapore. The bank says that during 2016, the number of clients using the digital platform increased by more than six times.