Swiss Research Firm Unveils Best Private Banking Websites

Published: 17-Dec-2009

UBS, Deutsche Bank and Credit Suisse emerge as winners

MyPrivateBanking.com, a Switzerland-based independent platform for information and networking for global wealthy private clients, has conducted a study on private banking websites of banks across the world.

As per the study, the private banking websites of UBS, Deutsche Bank and Credit Suisse have emerged as winners in a ranking of the online presence of the world's major 20 wealth managers. UBS website, with a total score of 82 out of possible 100 points, ranked first, mainly due to a wide range of interactive tools which clients can use online to analyze investment needs and find the right products. Deutsche Bank and Credit Suisse jointly occupied the second place, with 81 points each.

The report titled "How Wealth Managers Win Clients Online" concluded that the major wealth managers are not satisfied with their internet presence. According to it, about 50% of the wealth managers analyzed mastered the basic requirements for a website, but there are critical shortcomings nevertheless. Three out of four banks have no clear marketing message and more than 60% of the providers lack customer oriented content. Furthermore, only 25% of the banks offered interactive functions on their internet sites.

Christian Nolterieke, MD of MyPrivateBanking.com, said: "The internet is increasingly becoming the preferred medium of information for affluent persons. However, banks are missing out on the opportunity to showcase their uniqueness in order to differentiate themselves from competitors - who are in fact just one click away - through their private banking websites. The content and marketing messages are easily replaceable and the interaction with the potential client leaves much to be desired."

Steffen Binder, research director of MyPrivateBanking.com, said: "The wealth manager not only needs to adapt the website to keep pace with these trends, but also re-align the overall marketing and sales strategy. Banks that do not open up to social media and the interactive internet will soon face negative consequences in the struggle over the younger generation of affluent clients."

Tell your friend about this article