PT. Bank Commonwealth, the Indonesian subsidiary of Commonwealth Bank of Australia (CBA), has tapped Switzerland-based Fintech Additiv to expand its SmartWealth app with the addition of another wealth management solution, eSBN.
eSBN allows PT. Bank Commonwealth (PTBC)'s clients to trade Indonesia government bonds in a convenient and user-friendly manner through the SmartWealth.
Widely seen as a game-changer in the industry, SmartWealthprovides Premier Banking clients with a 360-degree view of their investment holdings, bank accounts and bancassurance policies. It also displays relevant financial news, robo advisor-like investment recommendations and the ability to stay in touch with their advisors. Additiv's technology provided the functionality and flexibility to do this with minimal impact on the bank's legacy systems.
eSBN as an additional service of SmartWealth will further strengthen client engagement, as it will allow our clients to buy and sell Indonesian government bonds over our innovative app"
PTBC's head of Wealth Management and Client Growth, Ivan Jaya, said:"eSBN as an additional service of SmartWealth will further strengthen client engagement, as it will allow our clients to buy and sell Indonesian government bonds over our innovative (Commonwealth Bank of Australia's) SmartWealth app."
Rajesh Narayanan, PTBC's head of Information Technology, added that "The rapid growth in the size of the mass affluent segment across Indonesia is reshaping demand for how financial services are delivered and used - PT. Bank Commonwealth in combination with additiv's industry leading DFS platform is providing for that."