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BANKING TECHNOLOGY | Staff Reporter, Hong Kong

Bank of East Asia partners with IBM to launch iPortfolio Analyzer

It allows private banking clients to view their portfolios anywhere.

The Bank of East Asia, Limited and IBM announced the successful rollout of iPortfolio Analyzer, a security rich, mobile solution that enables BEA’s relationship managers using iPads to access and display portfolio information for private banking clients at any location.

Designed and implemented by IBM, iPortfolio Analyzer allows BEA’s relationship managers to access and display the latest account financial information on an iPad during client meetings. Whether at the Bank or a remote location, private banking clients can now quickly view their portfolios.

“The iPortfolio Analyzer app underscores BEA’s ongoing digital transformation, which is designed to enhance the customer experience and satisfaction,” said Grace Chow, General Manager & Head of Wealth Management Division of BEA. “We have received very positive initial feedback from our customers, who have found this solution useful in making timely investment decisions. In addition, our relationship managers value the flexibility that the iPortfolio Analyzer provides them when meeting customers in town or elsewhere.”

IBM worked closely with BEA to design an app that supports every interaction between BEA’s relationship managers and their customers to create a more personalized customer banking experience. The iOS app -- the pioneer app in the private banking industry that can retrieve a customer’s financial information outside the Bank’s premises -- meets stringent security standards and fully complies with regulatory requirements. BEA’s relationship managers can use the app to conduct analysis on the spot, helping customers visualize their investment options, review their portfolio’s performance based on different time horizons, and make decisions to capture opportunities in a fast moving market.

“In collaborating with financial organizations like BEA, we are changing the way they do business with a mobile-led strategy that elevates the customer experience. As emerging technologies are reshaping banking and changing the ways people engage and interact, we are working with our clients to innovate and transform with IBM Design Thinking, state-of-the-art cognitive and cloud solutions, and rich industry insights.” said Alex Chan, Executive, Banking Industry, IBM China/Hong Kong Limited.

Since personal financial information is being accessed via the app, the solution required sophisticated programme coding and infrastructure design for mobile security control. Utilizing an agile development approach, iPortfolio Analyzer was created on Bluemix, IBM’s Cloud Platform. The Bluemix Mobile Foundation service enabled BEA to rapidly design, develop, test and deploy an app that is contextually relevant and provides a highly personalized user experience. The development team also leveraged IBM Security Appscan Source to identify potential source code vulnerabilities early in the development lifecycle to ensure a seamless deployment. From design to roll out, the project was completed in six months. 

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