Dubai: Falcon Private Bank, owned by Abu Dhabi’s Aabar Investments, has introduced a strategic repositioning centred around digital solutions to its clients.
The bank has recently unveiled a new brand appearance that marks its strong commitment to a digitally empowered way of private banking.
As an agile boutique, Falcon is betting on its capability to adapt quickly to changing priorities leveraging powerful, value-adding technologies. In July Falcon became the first-mover in the Swiss private banking area to provide blockchain asset management for its clients to store and trade bitcoins, a cryptocurrency, relies on “mining” computers that validate blocks of transactions.
- Martin Keller, CEO Falcon Private Bank
Digitisation is at the heart of Falcon’s new strategy. A new brand campaign seeks to cement Falcon’s identity as a digital firm. The core of the bank’s strategy is digital platform Falcon Pulse, which aims to improve all the points of contact with wealthy clients. Falcon Pulse is an algorithmic trading system that evaluates wealth allocation daily, delivering ideas for new investments.
“We are building our new strategy on the bank’s DNA as an agile and performance-based boutique delivering valuable functionality. Research tools are integrated,” said Martin Keller, CEO Falcon Private Bank.
Thanks to a partnership with digital asset manager Move, the introduction of cryptocurrency asset management and the launch of a digital platform, Falcon Pulse, the bank wants to position itself as a digital bank with touch and feel. The idea is to beat the competition and attract a younger generation of high net worth clients.
“We are convinced that this strategy will deliver value, higher performance and a new level of convenience for our clients. Our digital competence will be a true strategic differentiator in the market,” said Keller.
The aim of the Falcon Pulse platform is to enhance all digital client touchpoints. Main features will include an algo trader that dynamically rebalances a portfolio’s asset allocation on a daily basis to optimise performance as well as an idea generating tool that will screen all market information and empower advisers to capture the best investment opportunities for bank’s clients. Shortly, a new e-banking and mobile banking app, designed around today’s communication needs, will complement Falcon Pulse.
In investment service the bank is set to offer client focused services based on client’s level of delegation in asset management from self-directed execution services and advisory to portfolio management and structured solutions.
“We are offering more options to our clients. They have the choice of deciding their own level of delegation ranging from active involvement to system based approach as in algorithmic trading,” said Keller.
Falcon currently has total client assets of CHF 14.6 billion (about Dh54 billion) — of which assets under management is CHF 11.6 billion. The bank expects it foray into digital solutions will help it enhance its global client base and assets under management.
As part of its strategic repositioning, Falcon also presents a reshaped brand appearance to reflect its agility and power of innovation.
