"Like the transfer during the study abroad process, customers only need to take a photo, and they don't need to fill in the delivery address at all. Because the foreign account delivery address is actually very troublesome, case, blank filling in the wrong one will lead to rejection. We introduced AI scanning, which automatically parses out and generates business cards, which can be jumped out later with just one click from the customer. This is a detail that Li Ming, president of Ping An Private Bank, said at the launch of cross-border wealth management.
The small details reflect the bank's cross-border wealth management service concept - providing warm accompaniment, so that customers save time, effort and worry.
Recently, the landing of "cross-border wealth management connect" is another milestone in the opening up of China's capital account after QFII/QDII, Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect and Bond Connect. On October 25, Ping An Bank announced at the press conference of cross-border financial service upgrade and cross-border wealth management link, and at the same time, it focused on four major customer groups of study abroad, foreign travel to China, cross-border tourism and cross-border investment, and upgraded cross-border financial services.
On October 25, Ping An Bank announced the launch of cross-border wealth management.
"Cross-border Wealth Management Connect" brings great opportunities for wealth management in the Greater Bay Area Chinese and foreign banks work together to capture business opportunities
The reporter learned from the meeting that Ping An Bank and Hong Kong OCBC Wing Hang Bank, which has been rooted in Hong Kong for 83 years, carried out the first batch of "cross-border wealth management" cooperation. Wang Ke, director and chief executive officer of OCBC Wing Hang Bank (China), said at the press conference on the same day that the Guangdong-Hong Kong-Macao Greater Bay Area has become the world's richest Bay Area, with more than 450,000 high-net-worth families with investable assets of more than 6 million yuan and investable assets of more than 2.7 trillion yuan in the Greater Bay Area.
What opportunities will cross-border wealth management industry in the Greater Bay Area bring?
Wang Ke pointed out that the total amount of investable in the Guangdong-Hong Kong-Macao Greater Bay Area is high, the demand for cross-border wealth management investment is strong, and the market imagination space is large. The population of the Guangdong-Hong Kong-Macao Greater Bay Area exceeds 70 million, and the annual GDP growth rate in the past 10 years is close to 8%, and the total GDP is close to 1.7 trillion US dollars, which is equivalent to Canada's total economic output.
From the mainland perspective, mainland investors in the Pearl River Delta have a high total investable assets and show a strong interest in cross-border wealth management. From the perspective of Hong Kong, the current proportion of Hong Kong investors holding cross-border financial products is lower than that of mainland investors, and there is a large space for mining.
In Wang Ke's view, the "cross-border wealth management connect" meets the differentiated wealth management needs of investors on both sides of the strait. For mainland investors, the "Southbound Connect" provides products directly to mainland residents in the Greater Bay Area by financial institutions in Hong Kong and Macao, which helps customers to diversify risks and capture overseas investment opportunities; for Hong Kong and Macao investors, the wealth management products issued by mainland companies in the "Northbound Connect" have the characteristics of steady style and pursuit of absolute returns, which is well in line with their needs for asset preservation and appreciation in a low-interest rate environment; at the same time, mainland public fund products have a comparative advantage in allocating A-share high-quality listed company targets. It will help Hong Kong and Macao investors to share the mainland's economic development and investment opportunities.
"By working together and complementing each other's strengths, Chinese and foreign banks can better capture the development opportunities brought about by trade, capital and wealth flows in the Guangdong-Hong Kong-Macao Greater Bay Area." Wang Ke said, "The cooperation between OCBC Wing Hang Bank and Ping An Bank is to fully grasp the opportunities brought by the 'Cross-border Wealth Management Connect'. ”
Aiming at the four major customer groups Upgrading cross-border financial services to provide warm accompaniment
Li Ming, President of Ping An Private Bank, introduced that as one of the first batch of pilot banks to land the "Cross-border Wealth Management Connect", Ping An Bank will take the opportunity of the "Cross-border Wealth Management Connect" business to actively meet the needs of local residents in the Bay Area to achieve global asset allocation and Hong Kong and Macao residents to share the development dividends of the mainland.
Jia Min, general manager of Ping An Bank's top private bank, stressed in an exclusive interview after the meeting that in terms of products, the bank mainly focuses on the "product selection" strategy. Ping An Wealth Management selects assets and strictly controls risks to help Hong Kong and Macao residents share the benefits of the mainland's economic development, and cooperates with mainland head fund companies to select exclusive public offerings for Hong Kong and Macao customers; in terms of southbound products, it is preferable to launch multi-currency, global investment products.
In addition to the product matrix, Ping An Bank has upgraded its cross-border financial services, focusing on four major customer groups: study abroad, foreign arrivals in China, cross-border tourism and cross-border investment.
"We target the above four customer groups and provide services around their needs, and the scene is very focused." Jia Min said. For example, we will create a "safe study abroad" brand for the study abroad group, and provide a companion service experience for the pain points of different study abroad stages. "For example, during the study abroad planning period, we will find the best service partners on the market to help customers choose schools, apply for universities, and how to reserve the cost of studying abroad in advance." It's very finely divided, and this process sometimes accompanies the customer for one to two years. ”
"What is companionship?" We are trying to do this business by jumping out of a certain function of cross-border finance itself. What we emphasize is not the function of single transfer and settlement, but the one-stop service of 'financial + non-financial', which is a major feature of Ping An's cross-border business and the logic of our emphasis on accompanying services. The above-mentioned person in charge said.
"Taking the transfer of money during the study abroad process as an example, we can solve a big problem for customers by introducing AI scans. This is only a small detail, but it reflects our service philosophy - to provide warm companionship, so that customers save time, effort and worry. Jia Min said, "The cross-border wealth management business has just started, and at this stage we will not pursue scale, but we strive to achieve the ultimate service experience for customers." ”
[Reporter] Tan Bingmei
【Author】 Tan Bingmei
【Source】 Southern Press Media Group South + client
Source: South+ - Create more value
![Who doesn't want an ice pier ah ~ keychains and ornaments can not be accompanied by your side at any time ~ but the ice pier phone case can oh [smiley face] glory launched DIY mobile phone case, can put ice[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)