Hywin Launches WealthTech Platform to Enhance its Services for High-Net-Worth Clients through Data Analytics by Leveraging IBM Technology

Rhea-AI Summary

Hywin Holdings Ltd. (NASDAQ: HYW), a premier wealth management service provider in China, announced a new initiative to enhance its service offerings using IBM Cloud Pak for Data. This collaboration aims to deliver 360-degree analysis of client preferences, enabling tailored services for high-net-worth clients. The enhanced analytics capabilities will speed up data insights delivery by up to 40%, assisting the company in identifying potential client churn risks. CEO Madame Wang Dian emphasized this partnership as a pivotal move towards a client-centric approach and long-term growth in the competitive wealth management sector.

Positive

• Utilizing IBM Cloud Pak for Data enhances analytics capabilities.
• Insights delivery accelerated by up to 40%.
• Focus on personalized services targets high-net-worth clients.
• Long-term strategy aims to reduce client churn.

Negative

• None.

SHANGHAI, China, April 04, 2023 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. (“Hywin,” or the “Company”) (NASDAQ: HYW), a leading independent wealth management service provider in China, today announced it will provide its high-net-worth clients with 360-degree analysis of individual client preferences to offer precisely targeted services by leveraging IBM Cloud Pak for Data and the IBM Garage.

Hywin’s CTO Hua Zhu (right), CEO Madame Wang Dian (center)

Hywin is able to rapidly iterate its analytics capabilities to meet the needs of business users. To fully integrate client data and analyze client preferences, Hywin selected IBM Cloud Pak for Data – a data and AI platform that empowers organizations to collect, organize, and analyze data, wherever it resides. Through the IBM Garage, a collaborative approach to fast track innovation and drive meaningful and lasting transformation, Hywin rapidly iterated its analytics capabilities throughout the project, complementing the requirements of business users.

Hywin has built a mature data strategy, underpinned by effective analytics processes and data governance controls using these IBM products and consulting. The approach allows the company to provide analytics insights up to 40% faster, driving its client-centric transformation. To retain clients for the long term, Hywin has created a detailed model of the client lifecycle. This model allows the organization to identify client behaviors that could indicate an increased risk of churn, such as reduced engagement with the company’s client portal or declining asset allocations.

“We chose IBM because they share our agile development philosophy,” commented Hua Zhu, Hywin’s Chief Technology Officer. “Through frequent iteration, our aim was to keep the new digital capabilities tightly aligned with Hywin’s business requirements. By closely communicating with the business, from the time requirements are raised to the time they are implemented, we can ensure that the analytics products we are developing will deliver a great client experience.”

Madame Wang Dian, CEO of Hywin Holdings, expressed her enthusiasm for working with IBM’s solutions. “This collaboration is part of Hywin's long-term strategy to enhance our products with more value-added customized services, and to build a more integrated information ecosystem to maximize the benefits we can provide to our high-net-worth clients”.

“Hywin is dedicated to meeting the increasing demand for diversified wealth management services and has been offering high-quality customized products with differentiated services such as the ‘1+N+X’ service model and the ‘X-link’ digital sales platform. We believe that offering such services throughout the client lifecycle will not only enhance the core competitiveness of our proprietary technology infrastructure, but also help establish longer-term relationships with our clients, and help them to weather market cycles. Hywin is open-minded about partnering with reputable technology consultants to accelerate our WealthTech deployment and provide more diversified, valuable, and convenient services to our clients in the future.”

A detailed case study on Hywin from IBM can be downloaded here: https://www.ibm.com/downloads/cas/EJBX3WLK.

About Hywin Holdings Ltd.
Hywin (NASDAQ: HYW) is a leading independent wealth management service provider in China focusing on providing asset allocation advisory services and comprehensive financial products to highnet-worth clients. The Company’s primary services are wealth management, asset management, other comprehensive financial services, and health management services. Wealth management is currently the Company’s largest business segment, in which its onshore and offshore solution platforms serve clients across generations. The Company also offers integrated and high-end medical examination and health management services to high-net-worth clients in China, and aims to become a dual-platform serving clients across market cycles and life cycles. For more information, please visit https://ir.hywinwealth.com.

Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Contact:
Hywin Holdings Ltd.
Email: ir@hywinwealth.com

Media Contact:
ICR, LLC
Email: HywinPR@icrinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/75f577cb-dd62-46fe-8d32-3d94609c75a8

FAQ

What is Hywin Holdings Ltd. focusing on in its recent press release?

Hywin Holdings Ltd. is focusing on enhancing its wealth management services by leveraging IBM Cloud Pak for Data to provide tailored services for high-net-worth clients.

How will Hywin enhance its analytics capabilities?

Hywin will enhance its analytics capabilities by integrating client data through IBM Cloud Pak for Data, allowing for faster insights and better client service.

What percentage faster can Hywin deliver analytics insights?

Hywin can deliver analytics insights up to 40% faster by using IBM's solutions.

What is the goal of Hywin's client lifecycle model?

The goal of Hywin's client lifecycle model is to identify behaviors indicating potential client churn to improve retention.

When was this collaboration with IBM announced?

This collaboration with IBM was announced on April 4, 2023.