Banque CIC (Suisse) is teaming up with digital security specialists ti&m to develop a new digital robo-advisory platform for banks and wealth managers.
The French bank’s Swiss unit will launch the ‘Clevercircles’ platform at the beginning of 2018.
The digital solution will allow clients to have an influence at the asset allocation level by combining human intelligence and machine efficiency, and can be used as a white label solution.
Clevercircles will enable users to manage their own tactical asset allocation, while comparing their opinions against others of their choosing or against the ‘Crowd.’
Banque CIC (Suisse) and ti&m are also jointly working on B2B solutions, known as ‘crowd advice', which is aimed at banks, insurers, independent wealth managers and other financial players.
The new digital offering is an important initiative for the bank and comes in response to growing demand from younger clients.
According to the bank, Clevercircles will fill a gap in banks’ digital offerings, between automated wealth management mandates and complex trading platforms.
Commenting on the new initiative, Thomas Müller, CEO of Banque CIC (Suisse) said: ‘In the field of digital wealth management, there are many similar solutions that offer old products in new packages. With our innovative solution, we want to offer real added value. With Clevercircles, we have found an innovative approach that can excite new segments of customers for flexible and cost-effective investments.’