HSBC in Singapore has rolled out what it calls Wealth Dashboard, an internet-based platform on which clients can view total wealth holdings in real time, an approach that plays to growing customer demand for access to such data.

The service is available to all HSBC retail clients in the city-state; holdings of cash deposits, unit trusts, bonds, dual currency products and structured investments can be displayed, for example.

“We are a step ahead of our competitors to introduce what I believe is a very progressive and customer-centric wealth management tool in the Singapore retail banking market,” Paul Arrowsmith, head of retail banking and wealth management, HSBC Singapore, said in a statement.

The bank said Singapore-based HSBC Premier clients increased their use of online banking by 18.4 per cent between 2011 and March 2013, highlighting the rapid growth of this technology.

While this dashboard has been launched by the retail side of HSBC, the platform comes at a time – as shown by a new report by the publisher of this website – there is continual pressure on firms to improve how clients can see their investments and interact with firms more efficiently.

The use of technology, and the awareness of how it can be harnessed to communicate information to clients in a cost-effective way, has been growing for some time. In February 2011, for example, WealthTouch chief executive Norman Jones, in the pages of WealthBriefingAsia, discussed how private banks and other players have been upgrading client reporting capabilities. (To view that article, click here.)

Among the details of HSBC’s platform is a snap-shot of market valuations of assets; the option of switching foreign currency holdings to the Singapore dollar in one click; a view of realised gains or losses when invetments are sold, and online investment capabilities. The dashboard also provides transaction history.