HSBC Private Bank has launched a new generative AI-powered platform called Wealth Intelligence, aimed at transforming the way its wealth management staff serve clients.
The ecosystem will support client-facing bankers, investment counsellors and product specialists by providing them with access to timely insights and personalised strategies.
Built by HSBC’s in-house development team and powered by OpenAI’s large language model, Wealth Intelligence is designed to analyse and summarise research reports and market news. The system draws from more than 10,000 data sources, creating a centralised hub of information for staff to use when advising clients.
A core element of the platform is its ability to streamline access to reports from HSBC’s Chief Investment Office, which has won recognition for its research output. In addition, the platform will gradually integrate data from third-party product providers, enhancing its knowledge base and aligning with HSBC’s open product platform.
Wealth Intelligence is expected to evolve further, with plans for it to screen and identify investment products suited to client needs. This will enable wealth managers to present tailored investment options and asset allocation recommendations.
HSBC Global Private Banking a.i. CEO Gabriel Castello said, “Client relationships are core to every private banker. With the rapidly-evolving financial markets, we understand our clients have stronger expectations for timely, trustworthy and personalised investment advice than ever. Riding on our deep institutional knowledge and experience, our wealth management teams can now leverage these AI capabilities to spare more time to attend to our clients’ unique investment objectives and portfolio optimisation needs.”
The bank has rolled out the platform initially in Hong Kong and Singapore, with further expansion planned to serve clients across more international markets.
HSBC head of wealth and premier solutions Lavanya Chari 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.”
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