Commonwealth Indonesia releases investment management app “Commbank Smartwealth” to facilitate priority customers in managing their assets digitally. The product collaboration result with Additiv, a Swiss-based wealth management fintech company, is finally arrived in Indonesia after first present in Australia.
Ivan Jaya, Commonwealth’s Head of Wealth Management & Client Growth said this app is to facilitate customers in monitoring every portfolio of wealth management products including investment, such as mutual fund, obligation, insurance, saving and deposit accounts.
There’s also notification for news related to domestic and global market development regularly, and messaging feature to communicate with relationship manager.
“This app is launched to answer wealth management customer’s three main expectations who want to know every investment portfolio with the latest market value, anytime. Expecting to be informed with real-time market news that impacts their business,” he explained to DailySocial.
Jaya mentioned what makes SmartWealth different with other investment apps is Robo Advisory. In this feature, special algorithm is developed to provide feedback for customers of their investment portfolio compared to the other recommendations in Commonwealth based on market condition and customer’s risk profile.
Aside from providing routine recommendation, Robo Advisory will also inform economic news in market which already personalized with the customer’s investment assets. Therefore, every information customer’s acquired can be more useful and be used to maximize their investment portfolio performance.
As any other banking app, security is a number one essential factor. They offer double protection and make sure no document leaked. The app has extra protection, such as OTP and email verification sent only to customer’s registered email.
Later, there will be additional feature prepared to support customer’s experience in the app. However, he avoid to mention any further detail.
Quoted from Republika, the app is capable to increase managed fund in Commonwealth by 20% in this year. In 2018, managed fund worth of Rp30 trillion increased by 15%-20% in the last two years. In fact, priority customers in Commonwealth has reached 5% of the total customers.
The company is actively releasing digital banking product. Previously, they’ve launched TymeDigital Kiosk, KTA TymeDigital, Mobile Banking Bank Commonwealth, and branch office with digital capacity in six points around Jakarta, Surabaya, and Bandung.
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Original article is in Indonesian, translated by Kristin Siagian
