UK-booked wealth management clients of Credit Suisse now have access to their private banking service via a new App.

Credit Suisse has launched a digital private banking App for its UK-booked wealth management clients, building on the experience the Swiss bank has learned following the rollout of its digital offering in Asia, this publication can report.

"There has been intense collaboration between the bank’s innovation hub in Singapore, IWM COO and CS UK to ensure a successful integration into the UK landscape," the bank said in a memorandum seen by this publication.

The App's features include an overview of portfolio groups and portfolio level performances, positions, allocations, transactions and cash activities; a markets watchlist to track equities, bonds, commodities, currencies and funds; a markets overview showing the latest global asset class performances; and access to a library of Credit Suisse Investment Strategy and Research publications, recent Research Ratings, and the latest news articles from third-party news providers.

Initially, the App is only available on iPad tablets, but access will be extended to other devices, including iPhones and web browsers. It will also be rolled out across all client categories and user types. New features and enhancements will be released in phases. For example, there will be e-documents and multi-device capabilities.

A number of private banks, such as that of Citigroup and DBS, have private banking Apps, part of a trend of wealth management groups offering clients on-the-go access to their accounts and other services.

Organisations such as MyPrivateBanking Research (see example here) have argued that much of the demand for Apps has been driven by clients' experience in the retail services space.