The new vision and global impact of Priority Private, Standard Chartered’s new wealth management service for UAE’s affluent population was unveiled by Ayesha Abbas, Managing Director and Head of Consumer, Private and Business Banking in an exclusive interview with Arabian Business.
“Priority Private aims to make a transformative global impact by seamlessly connecting affluent clients to a world of unparalleled financial opportunities,” she said.
With a mission to link high-net-worth clients with exceptional financial prospects, Priority Private aims to position Standard Chartered as a leading player in the global wealth management arena by 2025.
Abbas explained the strategic alignment between Priority Private and Standard Chartered’s vision, stating, “It is more than just a service; it’s a strategic move towards positioning Standard Chartered as a key player in the global wealth management arena.”
Flexibility to cater to diverse goals and preferences
Priority Private distinguishes itself by offering a comprehensive suite of solutions tailored to meet the diverse and evolving needs of affluent individuals.
Abbas highlighted the importance, stating, “Priority Private places a strong emphasis on personalisation and flexibility. We provide clients with access to a wide range of sophisticated financial products and services, including international mortgages, wealth management lending solutions, alternative investment options, and legacy planning, to name a few.”
The exclusive benefits of Priority Private includes jump-the-queue servicing, bespoke investment solutions and lifestyle benefits.
Emphasising the elevated financial experience for clients, she said, “Priority Private offers numerous exclusive benefits designed to elevate the financial experience for our clients. From bespoke investment solutions tailored to individual risk appetites to carefully selected lifestyle benefits that cater to their selective tastes, Priority Private goes beyond traditional banking services to provide a truly personalised and elevated experience.”
She also highlighted importance of data security and privacy, given the increasing reliance on digital platforms for financial transactions and wealth management.
Abbas assured clients that Standard Chartered prioritises data security and privacy. “To address potential challenges related to data security and privacy, we employ robust security measures and adhere to stringent privacy protocols across all digital platforms and channels. Our systems are fortified with state-of-the-art encryption technologies and undergo regular audits and assessments to ensure compliance with industry standards and regulatory requirements,” she said.
In order to adhere to central bank regulations and relevant frameworks, the bank employs a proactive and multifaceted approach to compliance. Ongoing monitoring, risk assessment, and continuous training ensure that teams are well-equipped to navigate regulatory challenges effectively.
When discussing future developments, Abbas shared Standard Chartered’s commitment to innovation and enhancing the Priority Private experience. She stated, “Looking ahead, clients can anticipate a myriad of exciting developments and enhancements within Priority Private as we continue to innovate and evolve this proposition to meet their ever-changing needs and expectations. Our ongoing focus is on leveraging emerging technologies and insights to deliver even greater value and convenience to our clients.”
“Our goal is to remain at the forefront of wealth management innovation, delivering personalised and forward-thinking solutions that empower our clients to achieve their financial goals with confidence and clarity,” she concluded.
Looking ahead, Priority Private promises several new developments and enhancements. Standard Chartered aims to leverage emerging technologies and insights to deliver even greater value and convenience to clients.
Advancements in digital wealth management platforms will enhance functionality and user experience, facilitating seamless financial planning and portfolio management. Moreover, clients can anticipate expanded access to exclusive investment opportunities and curated lifestyle benefits, enriching the overall experience. With the aim to remain at the forefront of wealth management innovation, Standard Chartered aims to assist UAE’s affluent clients to achieve their financial goals.
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