Privé Technologies wins at SRP Asia 2019

On the 10th of April, Privé was amongst the coveted winners on the night, bagged the Best Structured Product Technological Solution for 2019. 

Privé Technologies has developed a structured product platform which generates the data to help clients understand the impact of the products to their portfolios by comparing them with regular securities.

The wealth management industry approach is changing from a product-driven push approach to a consultative portfolio advice approach. Being able to understand the impact of different securities to a portfolio risk/reward approach is becoming increasingly important. For regular securities, information could be easily obtained.

However, difficulties arise when it comes to structured products as they lack track record and analysis.

Privé Technologies Brings Structured Products Analysis From Rocket Science to the Level of Traditional Investments.

- Julien Musset

Privé would to thank SRP Singapore for presenting to us this award.  For more information on the winners, please click here:

Privé Technologies Acquires Digital Engagement Start-Up Hive Up

On January 8, 2019 (Hong Kong/Singapore)

Qiuyan Tian, the CEO and co-founder of Hive Up, commented, “Privé will be able to help us accelerate our mission of bring wealth management to the masses. I am elated to adopt their proficiency in FinTech to propel our ideas to much greater heights.”

Charles Wong, CEO and co-founder of Privé Holdings, noted, CEO and co-founder of Privé Technologies, noted, “We are excited to have Hive Up join our family of companies and believe its expertise in the mass affluent and wealth management segments contributes to Prive’s mission to bring wealth management to all.”

Hive Up operates in both the enterprise and direct-to-consumer segments. With respect to the end consumer, it focuses on highlighting financial concepts and engaging the everyday person via mediums such as articles, infographics, workshops, and webinars. For enterprise businesses, the company builds management platforms and client-facing applications for financial advisors. Hive Up also writes curriculum and conducts training for financial institutions, injecting life and vigor into otherwise prosaic financial content, while also using technology for enhanced hands-on engagement.

Ms. Tian started Hive Up in 2016 with a mission of wanting to bring wealth management to the masses. Having cut her teeth in the wealth management sector with Goldman Sachs and an established family office, she was convinced that she could bring the same tools and access that had only previously been available in the high net worth segment to anybody.

Ms. Tian believes that the two keys to a successful financial journey are financial literacy and practical handles. With the experience of successfully building two prior startups, her mandate for Hive Up is to demystify the seemingly complicated world of finance by breaking it down into engaging and palatable content.

The ethos on how Hive Up creates its content is based on the pillars of design thinking, psychology, and technology, which incorporates AI and machine learning to intelligently curate content and make financial learning more engaging, tailored and personalized.

The acquisition of Hive Up – following Privé Technologies’ recent selection by Deloitte as one of the top 20 fastest growing technology firms in Asia – further cements Privé’s position as a leader and one of the most recognized and awarded FinTech companies in the industry.

Digitization in the field of personal finance is becoming more salient. We need to explore creative and cutting-edge ways to help the financial literacy challenge for the aspiring investor, as well as develop new value proposition solutions for wealth managers in today’s digital age.

Privé Technologies is also the firm behind the award-winning Privé Managers platform for global wealth and asset managers. Prior awards for Privé Technologies include being selected as the 2018 FinTech Changemaker of the Year sponsored by Asian Private Banker, 2018 Most Innovative FinTech Solution sponsored by Wealth Briefing Asia, as well as a finalist in the Hong Kong-based 2018 DBS Accelerator and Supercharger Accelerator programs. Privé Technologies was also voted as the number one robo-advisor in Asia amongst 16 robo-advisories in a recent independent study by Kaplan.

About Privé Technologies

Privé Technologies is a modular solution for the wealth and asset management industry and comprises more than 11 state-of-the-art modules powered by its bionic advisory engine, which include wealth planning, risk profiling, investment exploration, algorithmic optimization, and personal reporting. Privé Technologies serves a range of wealth management clients across Asia and Europe, including external asset managers, multi-family offices and banks by offering a wide range of connectivity options to custodial and distribution platforms.

About Hive Up

Hive Up is an online platform created to empower each individual in achieving their own version of financial freedom in a fun and un-intimidating approach. It produces workshops and various forms of content to make financial literacy easy, along with digital tools to help plan and manage personal finances in both the enterprise and direct-to-consumer space.

Privé Technologies
Suite 813-814, Cyberport 1
100 Cyberport Road
Hong Kong
Telephone: 852 3157 1234

Hive Up
10 Winstedt Road, Block C Suite 18
Singapore 227977
Telephone: +65 6521 6690

Press Contact:
Andrew Wong

Financial Literacy: An Introduction (Part 1)

Financial literacy has many definitions. One of our favourite ones is knowing how money works, and how you can put money to work for you. Others define it as how well one can understand budgeting, and apply financial prudence to life decisions.

In general, financial literacy refers to how well one can manage their financial resources effectively throughout their life, and how well they are able to plan for their financial goals.

Why is important for us to be financially literate? 

Research studies across countries on financial literacy have shown that most individuals (including entrepreneurs) don’t understand the concept of compound interest and some consumers don’t actively seek out financial information before making financial decisions. Most financial consumers lack the ability to choose and manage a credit card efficiently, and lack of financial literacy education is responsible for lack of money management skills and financial planning for business and retirement.


Finances are an integral part of our life, and many of the decisions we make on a daily, monthly and yearly basis either affect our finances directly, or revolve around the subject of finances. The way we understand and approach finances can have a huge impact on the decisions we make in many areas small and large, from food and lifestyle choices, to career and family matters.

The consequences of good or bad decisions compound by the day. When the dimension of time is factored in, the good gets better and the bad gets worse. Good investment plans can gather handsome compounding interest, while uncurbed bad spending habits might do the exact opposite with debt and bills.

Being financially literate also helps us in preparing for the future like family planning and retirement, though they might not feel as important at present. There might also be times when we are caught unaware by circumstance, for example not being covered by insurance for hefty hospital bills. Decisions like these have to be made way beforehand, so it pays (literally) to be well prepared.

Having discussed how important financial literacy is, let’s play a quick quiz to get a gauge of where you’re at.


Are you satisfied with your score? Did you predict your score correctly?

Pause and have a moment to reflect. Did you underestimate or overestimate yourself? Why do you think that was so?

If you feel your financial literacy needs improvement, here’s an infographic we made with some tips to get you started!


In our next article, we will show your results compare to the rest who have taken this quiz.
We’ll also go deeper into the main areas you should be mindful of to improve your financial literacy.

This content was brought to you by our partners, Hive Up. Do remember to sign up for their mailing list if you haven’t already, so you won’t miss out on new content!


Financial Wisdom in Delayed Gratification – Part 3

In Parts 1 and 2 of this mini-series, we introduced the concept of instant and delayed gratification, and how it has possible implications on our decision-making and finances. Join us today for the 3rd and final part of this series, where we discuss practical steps on how to improve our financial self-awareness and avoid the pitfalls of instant gratification. (If you have not read Parts 1 and 2, it would be great if you did to benefit best from this series.)

Financial prudence seems simple in theory. Spend as little as you can, save as much as you can, and invest as wise as you can. But like we said, that’s in theory. We need to admit that as humans, we have emotions and vulnerabilities, and sometimes our behaviors can differ from our original intentions.

As we mentioned in Parts 1 and 2 earlier, the solution to better financial decision-making lies in tipping the scales in being less emotional and being more numerate and rational. When we are better aware of the pitfalls of instant gratification as discussed, it will aid us greatly in the plans we make to improve. To improve our chances in mastering delayed gratification, here are 4 steps to follow.

Step 1: Get your priorities right

A big reason why we struggle with delayed gratification is that, the future does not seem as real and tangible as the present. We must put effort into imagining the greater rewards we want to wait for, if not they will seem vague. We need to put our brains to work — visualise and extrapolate the circumstances vividly in your mind’s eye.

Consider, to the point of iron-clad conviction, our financial goals in the order that we deem most important. Ensure that our basic and foundational needs are settled before tackling the fancier “good-to-have” ones. Determine for ourselves, if retirement and insurance should take precedence over the fancy sports car, or if our children’s education is more important than our current spending lifestyle.

Step 2: Materialise your plans

Writing down our goals and plans are a great way to make our thoughts and intents tangible, and will help much with decision-making when the rubber meets the road. Detailed lists and comparison tables can be fantastic. Spreadsheets are extremely helpful to do calculations especially in the context of time. Contextualise your goals, work in the details, and be sure to track them.

Step 3: Never Rush

Patience is key. Whenever we are faced with a decision, don’t be pressured to act on instinct. Wait. Take time to let the heat of impulse diffuse. Always take a step back and consider different perspectives and alternatives. Refer back to the plans we have made earlier, instead of being reactionary.

If we find ourselves struggling with this, it may mean our convictions and plans are not strong enough to affect our behaviour. Do repeat steps 1 and 2. Be humble and bounce our plans off with people whom we trust and know have our best interests at heart. They could offer a different perspective and prevent tunnel vision.

Step 4: Commit

Put your money where your mouth is. By putting your savings and investment plans into action, it forces you out of procrastination to be accountable. Take that step to start the realisation of your financial goals by speaking to your financial advisor or wealth manager. The earlier you do this, the sooner you reap the benefits of time. (Remember the effects of compounding interest we explored in the quiz in part 2?)

In conclusion, let’s go through this checklist to see if you have the main areas covered.

We truly hope this article has been helpful in continuing your journey of mastering your finances. Do you have thoughts and ideas what you would like to share? We would more than love to hear them!

This content was brought to you by our partners, Hive Up. Do remember to sign up for their mailing list if you haven’t already, so you won’t miss out on new content! 

Privé Technologies emerged multiple award winners at the 28th Private Banker International Awards

Award winners were presented at the PBI Global Wealth Awards Gala Dinner on Friday, 12th October 2018 at Intercontinental Singapore Hotel, Singapore.

This prestigious, leading industry event brings together the worldwide leading Private Banks and Wealth Management Companies to address key industry issues in the daytime Summit and celebrate the leading sector initiatives in the evening during an Awards Gala Dinner.

We were awarded in the categories of Outstanding Wealth Management Technology Initiative- Front End; Outstanding Wealth Manager- Customer Relationship Service and Engagement; and Most Innovative Business Model. 

Prive would to thank Arena International Events Group for presenting to us this award. 

David Lee said:

“It’s an honour to have received these awards and a big thank you to our team for working hard to achieve this.”


Bringing Wealth Management To The Masses

After our successful fintech accelerator participation in Bahrain Cloud C5, our Middle East presence continues to grow. Here, CarterMurray, discuss how our robo-advisory solutions can bring professional wealth management to a wider audience than ever in the Middle East region.

Types Of Wealth Management Advisory Fees

Investors need to be informed not just about the assets they are investing in, but also how much fees are involved in the process. While engaging a professional financial advisor to manage your investment and customise an investment portfolio that suits your needs sounds like an excellent plan, it does not come free.

Therefore, it is pertinent to understand how much you need to pay when looking to engage the services of a financial advisor or investment management firm, as such fees will have a direct impact on your return. Every cent counts towards performance in the long run.

Here, we take a closer look at the different types of fees investors will encounter:


Many financial advisors and wealth management firms charge their clients based on a fee structure, and the most commonly used fee structure in the industry is charging a percentage of the total assets managed. The average fee paid to financial advisors and wealth management firms is usually between 1-2% of the total investment sum of the client’s account annually.

It is worth noting that the advisory fee percentage is often scaled, and often decreases as the amount of assets under management increases. For example, a financial advisor may charge a client 1.5% annually to manage an investment account of $100,000 or less, but charge less than 1% for an account of more than $1 million. In short, you have more negotiating power when you have a larger portfolio size.


Additionally, you will also incur a transaction fee each time you buy or sell a mutual fund or stock. Such fees range from product to product, with mutual funds generally gravitating towards higher transaction fees, compared to exchange-traded funds (ETF) and stocks. Trading fees vary depending on the volume transacted and which market. In Singapore, commissions for purchasing local equities and ETFs can be as low as 0.12% and 0.08% respectively. As such, ETFs and stocks are more attractive to investors who wish to keep their transaction costs low, as these products can be transacted for relatively low fees.

PrivéTech Team

The Privé Technologies Team

Latest Technology Trends For Wealth Management In Asia

Asia’s Wealth Management Fundamentals Still Shine

In the latest annual wealth management report from Boston Consulting Group “BCG”, the astounding growth of personal wealth is reported to continue globally in 2017. With this backdrop, we examine the challenges and impacts that are arising for wealth managers and the technology the wealth management institutions in the Asia region will require to meet the evolving customer demand profile.

The trends of rising investor wealth as well as rising numbers of wealthy investors, are clearly positive drivers for the wealth management industry. Whilst residents of North America held nearly 43% of global personal wealth, followed by residents of Western Europe with 22%, Asia continued the trend of clocking the strongest growth, with a 19% year on year rise in the region’s wealth from 2016 to 2017 (shown in Exhibit 1). The growth of UHNW and HNW individuals in Asia is expected to be double by 2022 (shown in Exhibit 5).

Challenges for Wealth Managers

Behind the data lie some significant challenges for the wealth management industry in Asia. Despite the target customer base growing in size, the customer is also increasingly disengaged with the traditional wealth management service model.

The effects of digital disruption are a major contributor to the revenue and profit challenges faced by wealth manager (BCG, 2018).

Traditional approaches are increasingly ineffective, as clients lean towards receiving a customized experience, similar to the other digital touchpoints from retail to travel, that they use daily.

Wealth management is a client-service business. When a client needs and/or is expecting change, wealth managers have to serve them. What differentiates wealth managers today is the capability to deliver a personalized service to clients. Some are leveraging data availability and analytics to build personalized experiences for clients based on their needs, preferences, context and behaviours. But many are not yet. BCG research suggests that more than 70% of wealth management clients see highly personalized service as a key factor in deciding their provider.

Traditional approaches are also increasingly uneconomic. So not only does the customer not want them, but they are expensive to deliver. Technology serves a key role in transforming business to re-focus on delivering superior customer experiences in an efficient way.

BCG identify four critical challenges that the wealth management industry is facing:

  1. Integration complexity

    The digitization process requires work to be done in an agile fashion given the amount of changes required. Orchestrating cross-functional teams is key to drive technology change alongside operating model changes. This move creates an opportunity to building minimum viable products, testing and learning and failing fast.

  2. Change as a team

    The initiative to implementing the change should be seen as a top priority by the entire firm. Members of executive suite must instill positively to every member in the organization in order to bring about the needed behavioural changes.

  3. Useful data

    Client and product data creates challenges owing to the data’s heterogeneity and disparate sources. This data tends to be highly fragmented, in which 35% of the data is meaningful to wealth managers. The challenge here is to pull key information and maximise its use across engagement with RMs, client service and back-office functions.

  4. Scalability
    Undeniably, wealth managers handle massive and standardized data in their day-to-day. It is crucial that they have sufficient understanding to apply latest analytics techniques to create value for their work. Such that various data types are linked in a way to allow step-change insight, both at scale and at the level of individual clients.

Technology Solutions for Wealth Managers

At Privé we are strong believers that the only way wealth managers can survive and thrive in the new environment is to embrace digitisation and adopt quickly.

Here are four technology solutions that BCG identify which resonate strongly with our ethos.

Capture new client leads

The initial contact point in wealth management begins with the RM. Advanced analytics and data enables identification of early signs of potential attrition and enables leads scoring based on complementary data capture. This keeps the relationship manager (RM) focused on customers who are more valuable, rather than churning potential leads. Additionally, maximising RM effectiveness with new clients by using lead score and smart rules driven by advanced analytics, enables the RM to leverage a set of proven prospects.

Privé solution: WEALTHINASIA (qualified lead generation) and
Hive Up (prospect and client financial education)

Make suggestions personal and timely

Interaction with existing clients is key to engaging their interests and strengthen relationships between RMs. Analytics helps to raise timely and personalized suggestions to clients and encouraging relevant discussion between client and RM that could deepen the relationship.

Privé solution: iEngage (stimulate your clients in to taking more action by using content to deliver sales ideas, then track and serve tailored experiences using the client data)

Improve client experience

Develop a dynamic pricing using data such as client’s individual situation and long-term value omitting unnecessary discounting by RMs. Resulting in a personalized service delivery with greater transparency.

Privé solution; Ordering and re-balancing module to automate execution and pricing structure in a more homogenised and stream-lined way

Build efficiency

Technology acts as an effective tool in several ways operationally. It improves accuracy by eliminating manual tasks, reduce human-resources costs, streamline requests and inquiries, improved credit risk management and allows data reusability.

Privé solution: our Digital Operations modules digitise the administrative and cumbersome internal processes,with significant cost efficiencies achieved

Looking Ahead

It’s clear that technology is going to play arguably the biggest factor to keep wealth management firms not only efficient, but also relevant to customers in the short, medium and long term.

We echo BCG’s conclusion that unlocking the value of data will create unbelievable business opportunities, however, success also depends on having the ability to adapt to the change and the leadership to drive effective integration of key capabilities and mandate complexity efficiently.

Speak to us about how we are helping financial institutions in Europe and Asia to drive digital transformation and seize new business opportunities.

The Boston Consulting Group (2018). Global Wealth 2018, Seizing the Analytics Advantage

Retrieved from:

PrivéTech Team

The Privé Technologies Team