Financial institutions of all types continue to re-assess and re-tune their strategies and engagement of all kinds of technology. And our ambition is to create unique thought-leadership from the most influential participants in the wealth management community to drive this further.
Amid all the hype and talk among banks about them looking to enhance their digital propositions and offer clients more via these channels, they need to act if they want to address the real challenges they still face.
These include, among many: compliance obligations, creating a compelling client experience, dealing with the data challenge, and essentially being relevant to clients – both the current and next generation.
But while the demand for digital wealth management is growing among Asian investors, many traditional players are struggling to respond.
Catering to different needs and tastes is crucial to be able to provide something relevant and of value to clients.
For those institutions in search of innovation and digitisation for their wealth management business, therefore, they need to carefully consider how they work ever-closer with (the right) fintechs as the former rely on the latter for something interesting and new to offer to clients to service their wealth management needs.
Yet disruption in any dramatic way looks unlikely. So management need to focus on how to evolve and enhance their businesses in order to thrive, not wither in today’s intensely-challenging environment.
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