Singapore is one of the world's most important wealth management hubs, attracting family offices, private banks, and fintech firms eager to tap Asia's rapidly expanding pool of affluent investors. For digital wealth manager Arta Finance, the city-state is more than a regional base. It is a launchpad for a broader ambition, building what it describes as the next generation of private banking.

Speaking to The Asset on the sidelines of the SuperAI conference in Singapore, Arta Finance co-founder and chief investment officer Chirag Yagnik said the firm's presence in Singapore provides access not only to a sophisticated regulatory environment but also to a diverse international client base that is helping shape its platform.

"Singapore is a booking centre that allows us to onboard clients from more than 90 countries," Yagnik says. "As we're building the next-generation private banking platform, understanding different user behaviours and financial needs is incredibly valuable."

Founded by former Google executives and operating across Singapore and the United States, Arta is seeking to combine wealth management expertise with artificial intelligence and modern technology infrastructure. 

However, rather than simply layering artificial intelligence ( AI ) tools onto traditional banking systems, the company has built its platform from scratch, allowing it to integrate public market investments, alternative assets, structured products, and insurance solutions within a single ecosystem.

The strategy comes at a time when wealth management firms globally are racing to understand how AI can transform client service, portfolio construction, and operational efficiency.

Yagnik argues that much of the industry conversation is focused on AI agents while overlooking a more fundamental challenge.

"AI is important, but having a smart brain alone doesn't solve the problem," he says. "You need the infrastructure around it, the trading systems, compliance frameworks, portfolio engines, and operational workflows for it to create real value. Speeding up advisory workflows means little if execution still moves at legacy speed."

Partnerships a key growth channel

That focus on infrastructure is increasingly resonating with financial institutions. According to Yagnik, Arta is seeing growing interest from private banks, digital banks, and other financial firms looking to modernize their wealth management offerings.

Rather than competing directly with every institution, Arta increasingly views partnerships as a key growth channel. The company provides technology, AI expertise, and a wealth management platform, while local institutions contribute customer relationships and market knowledge.

"We're not going to understand every segment as well as the financial institutions serving them," Yagnik says. "What we bring is the technology layer and the wealth management platform. What they bring is a deep understanding of their clients' needs, developed through years of trusted relationships."

The firm's credibility has been strengthened by a deep pool of investors and advisers drawn from global finance and technology circles.

Among the most prominent is former DBS Group chief executive Piyush Gupta, who serves as a senior adviser and investor in the company. Arta has also attracted backing from former UBS and ING chief executive Ralph Hamers, former Google chief executive Eric Schmidt, Mastercard chief executive Michael Miebach, and Intel chief executive Lip-Bu Tan.

The involvement of such high-profile figures reflects growing confidence that wealth management is entering a period of significant technological disruption, and Asia is expected to play a central role in that transformation.

Empowering Asia’s mass affluent

Yagnik notes that the region continues to outpace many developed markets in wealth growth, making it an increasingly important strategic priority not only for fintech firms but also for established private banks.

"A lot of wealth management growth is happening in Asia," he says. "Even traditional private banks are focusing more and more on the region."

The opportunity extends beyond ultra-high-net-worth individuals. Southeast Asia's growing middle and affluent classes are becoming more digitally savvy and increasingly comfortable managing their finances through online platforms.

Arta already works with institutional partners serving retail customers, including Wio Bank in the United Arab Emirates, and the company ultimately wants its technology to become accessible to a much broader audience. "We want every user who can benefit from what we've built to be able to access it," Yagnik says.

That vision reflects a broader shift taking place across the wealth management industry. Historically, sophisticated investment products and private banking services were reserved for wealthy individuals. Advances in technology are lowering operational costs and making personalized financial services more scalable.

Yet Yagnik does not believe AI will eliminate the human element from wealth management. Despite rapid advances in automation, he argues, trust remains a critical component when managing significant amounts of money.

"People still want to talk to a person," he says. "If someone has spent decades building their wealth, they're not going to immediately trust an AI agent to manage everything without oversight."

Importance of human expertise

Instead, Arta advocates a hybrid approach that combines technology with human expertise. Routine activities such as portfolio monitoring, reporting, and administrative processes can increasingly be automated, while advisers continue to play an important role in complex financial decisions and relationship management.

The approach is particularly relevant in a region undergoing one of the largest intergenerational wealth transfers in history. Across Asia, business founders and family patriarchs are passing wealth to younger generations that are generally more comfortable with digital tools and self-service financial platforms.

Arta's experience suggests these changing demographics are accelerating demand for digital wealth solutions. Clients who adopt the platform tend to remain highly engaged, particularly once they experience features such as automated alternative investment subscriptions, digital capital calls, and paperless portfolio management.

Before co-founding Arta, Yagnik spent nearly a decade in systematic trading, including developing AI-driven trading systems as early as 2009. That experience, combined with his later work in large-scale technology systems, has shaped his view that innovation in finance must be balanced with strong governance and risk controls.

The lessons of the global financial crisis remain relevant. "Technology can help, but ultimately you still need to ask the right questions about risk," he says. "A model can say something is low risk, but that doesn't remove the need for human judgment. The right controls and oversight still matter."

As AI adoption accelerates across financial services, that balance between innovation, trust, and regulation may ultimately determine which firms succeed.

Despite the almost mass hysteria around AI, the future of wealth management will not be built solely on artificial intelligence. It will be built on combining AI with the infrastructure, compliance, and human expertise needed to make it work in the real world.