CHICAGO - 12/25/2018 — Latest global trend: Cross-industries collaboration between financial investment and banking sector
Wang Dongsheng, Vice Chairman and Chief Executive Officer of HSBC recently attended the HongKong Business Summit and said that digital banking has become the mainstream choice for consumer payments and financial transactions which in turn significantly reduce the use of cheques and cash. In recent years, products launched by major banking and financial investment, financial technology and other industries, including fast payment systems and virtual banks, are meant for the convenience of customers. Companies including Tencent, Alibaba Group, and Phoenix Wealth Management, etc., are actively expanding the digital payment and digital investment systems.
In response to the transformation of financial technology, UBS, the world's largest Swiss banking institution, has been actively investing in financial technology in recent years and has also collaborated with partners in Asia Pacific, the UnitedKingdom, and Australia. In 2015, Phoenix Wealth Management reached an alliance with the premium investment bank UBS. A series of premium wealth management services, including premium clients seminar, corporate newcomers training, trust financing, overseas investment, global tax incentives, global investment trends, etc., are created to provide high-quality investment and wealth management services to premium customers around the world.
Mr. Joel Harlin, Chief Investment Officer of Phoenix Wealth Management, said that it is believed that the collaboration between the financial investment technology sector and the banking industry will help to establish a forefront trend in the world. Through the collaboration between the two, the bank's cost will be greatly reduced, and the investor's trust in the investment projects will be enhanced which in turn obtain more sources of funds for investment, achieving a win-win situation which creates mutual development and more opportunities for all parties.
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