Indonesia Wealthtech

Commonwealth Bank’s Wealthtech App Gains Swiss Expertise from Additiv

In today’s digital world, investors increasingly demand to be able to stay abreast of market developments and manage their financial assets from their mobile devices. However, most financial institutions struggle with delivering this experience as they are tied up in a maze of legacy systems and disjointed service channels.

PT. Bank Commonwealth (PTBC), the Indonesian subsidiary of Commonwealth Bank of Australia (CBA), has recognized this challenge early on and entrusted Switzerland-based Fintech additiv with delivering the platform for its mobile “SmartWealth” Service.

Widely seen as a game-changer in the industry, it provides 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.

In recognition for this innovative solution, PTBC also received the prestigious MURI award for best digital wealth management app. MURI (Museum Rekor-Dunia Indonesia) is the local equivalent of the Guinness Book of Records.

Ivan Jaya

Ivan Jaya, PTBC’s Head of Wealth Management & Client Growth, stated

“With the robo-advisory feature, customers can monitor their portfolios and optimize investments in a simple, smart and integrated way, anywhere and anytime.”

Michael Stemmle

Michael Stemmle, additiv’s CEO, added

“We are particularly proud of our partnership with PTBC whose vision and pioneering spirit we share. The launch marks an important milestone for the additiv that demonstrates our commitment to the Asia Pacific region and also the strength of our Digital Finance Suite Version 4, the technology underpinning SmartWealth.”

Featured image credit: Unsplash