Tag: Alpian

  • Samsung to increase Vietnam investment to $20B

    Samsung to increase Vietnam investment to $20B

    South Korean electronics giant Samsung announced plans Tuesday to increase its investment in Vietnam from $18 billion to $20 billion.

    “Samsung has clear goals to implement projects in Vietnam effectively. We want to invest in developing new, young human resources, and promote research in artificial intelligence and big data, ” Samsung Electronics vice chairman and CEO Han Jong-hee said while meeting with visiting Vietnamese President Nguyen Xuan Phuc in Seoul on Tuesday.

    Phuc encouraged Samsung to continue investing in auxiliary industries and smart technology, with a goal of building research and development centers in Vietnam.

    Samsung’s new Research and Development Center in Vietnam has been completed and will soon come into operation, focusing on research on phones, computers, and network systems, Vietnam News Agency quoted Han as saying.

    In upcoming big fairs, Samsung will exhibit leading hi-tech products and solutions, and if there are partners, the firm will manufacture them in Vietnam, he said.

    Samsung Electronics Vietnam reported export turnovers of $65.5 billion in 2021, helping turn Vietnam into a global smartphone manufacturing hub.

    The Vietnamese president also met Tuesday with Hyosung chairman Cho Hyun Joon, who said the South Korean industrial group has invested $3.5 billion in Vietnam.

    Then Phuc met with New Korea Development Bank (KDB) chairman Kang Seog Hoon, who said the South Korean lender will soon launch new financial services in Vietnam as part of its expansion into its Southeast Asian neighbors.

  • Alpian Will Use AI to Sniff Out Financial Crime

    Alpian Will Use AI to Sniff Out Financial Crime

    Switzerland’s first digital private bank has found a partner for end-to-end risk management. The solution makes use of artificial intelligence.

    Digital private bank Alpian plans to use intelligent compliance to monitor the risk profiles of all its clients and investigate potential financial crimes, partnering with global compliance solutions provider Napier to do so, the bank said Tuesday.

    According to the statement, Napier Continuum brings together core anti-money laundering (AML) measures such as transaction monitoring, customer and transaction screening, advanced risk assessment tools, ongoing AI-powered reviews, and intuitive reporting capabilities.

    By using the most advanced compliance technology, the often very strict regulatory requirements can be met and reliable service can be delivered to bank customers, Schuyler Weiss, Alpian CEO, and co-founder said.

    Alpian combines everyday banking with personalized investment services via a mobile app for the mass affluent customer segment. Prior to its official launch in October 2022, Alpian had raised 19 million Swiss francs ($20.3 million) in its B+ funding round and recently announced a partnership with Visa.

  • Switzerland’s First Private Digital Bank is Open for Business

    Switzerland’s First Private Digital Bank is Open for Business

    Swiss digital bank Alpian received its banking license from Finma in April. The launch of its private banking app marks the start of business operations.

    Alpian bills itself as the first Finma-licensed digital private bank in Switzerland. The app, through which the bank exclusively offers its services, is now available for download in the Apple and Google Play Stores, according to a statement on Tuesday.

    The bank’s digital service geared toward mobile devices, combines everyday services and private banking, bringing a new combination of banking and investment services to the market. The hybrid concept combines a secure, state-of-the-art banking platform with the support and advice of experienced wealth advisors, it said.

    The offering is designed to give affluent clients access to services otherwise reserved for the clientele of traditional private banks. It offers professional and highly personalized services at a management fee of 0.75 percent which Alpian calls «competitive».

    A unique selling point compared to other neo-banks is a video call function that can be used to contact advisors from within the app. Personal contact with advisors is an indispensable part of the offering, according to Alpian.

    The digital bank, originally launched by the Geneva-based Reyl Group, received its banking license from Finma in the spring after a two-year lead time. According to the information previously provided, it intends to offer its services exclusively to Swiss customers. The target group is between 100,000 and one million Swiss francs of assets.