HSBC Private Bank has launched a generative AI-powered platform for its investment counsellors and product specialists to provide clients with market insights and tailored investment strategies.

The Wealth Intelligence platform is powered by OpenAI’s large language model and is designed to analyse and summarise HSBC’s research reports and external news feeds, which currently comprise more than 10,000 data sources. According to the bank, the platform offers rapid and straightforward access to the full range of reports published by its investment office.

HSBC Private Bank added that the growing volume of third-party product information available on its open product platform will also be progressively integrated into the platform’s knowledge base.

In the next stage of implementation, Wealth Intelligence will be able to screen and identify suitable products for wealth management teams to discuss with clients, supporting conversations around investment options and asset allocation recommendations.

The bank said that AI adoption is a key part of its strategy to enhance the customer experience at scale. By harnessing AI’s analytical power and speed of data delivery, HSBC aims to transform workflows and help clients make more informed, data-driven decisions.

Gabriel Castello, chief executive at HSBC Global Private Banking, said: “Client relationships are core to every private banker. With the rapidly evolving financial markets, we understand our clients have stronger expectations for timely, trustworthy and personalised investment advice than ever.

“Riding on our deep institutional knowledge and experience, our wealth management teams can now leverage these AI capabilities to spare more time to attend to our clients’ unique investment objectives and portfolio optimisation needs.”

Following its initial roll-out in Hong Kong and Singapore, HSBC Private Bank said Wealth Intelligence will be scaled to additional markets to meet the expanding needs of its global client base.

---