The UK private bank and wealth manager has teamed up with Ten Group to offer an exclusive service including “red carpet” experiences and bespoke discounts.

Coutts has launched an online concierge service exclusive to holders of its charge Silk Card.

The bank's Silk Card holders will be offered discounts and “money can’t buy, red carpet experiences” across travel, entertainment and dining.

The exclusive services offered via this new platform, which is provided by lifestyle concierge company Ten Group, range from table reservations at a fully booked Michelin-starred restaurant such as Chiltern Firehouse and The Ivy, to chartering a yacht or hiring a Ferrari.

“We continue to innovate and raise the bar by launching this cutting edge platform in response to client demand for increased choice for exclusive services, experiences and bespoke discounts,” said Coutts' head of digital, Joe Norburn.

“Although clients appreciate having a dedicated telephone and email concierge service, they want the added convenience and flexibility of an online service. Clients can now surf for ideas of where they want to go on holiday, book hotels and flights online or reserve a table at a Michelin-starred restaurant.”

Provision of such concierge services as part of a package isn't new to private banking. The private banking arm of Bank of Montreal, for example, boasts such an offering, while Singapore-based UOB Private Bank, Africa-based Standard Bank, have such concierge services. They are seen as part of the broader added value proposition that private banks offer at a time when firms are seeking to differentiate themselves and gain, and keep, clients.

Airlines, hotels and property

Explaining its offering, Coutts said that clients will also have access to wholesale rates with all major airlines, as well as preferential rates for over 10,000 hotels globally and detail on over 1,500 luxury properties within the Ten Group Global Hotel Collection.

“We are thrilled to be working with Coutts exclusively on the launch of our new online service,” Ten Group's chief executive, Alex Cheatle.

“We believe this is the future for the sector and the gateway to building a continued intelligent and trusting partnership with Coutts and the Coutts Silk Card.”