How to accelerate your customer-focused digital wealth management strategy

Abstract

This paper explores how banks and wealth management firms can apply digital technology to develop a customer-focused digital wealth and investment management strategy. At present, the forces of digitisation are rapidly transforming the private client wealth management segment — driven primarily by the rise of ‘next-generation’ investors and their preference for disruptive technology. This paper examines how banks and other wealth managers can become more competitive by implementing digital technologies in the important areas of channel integration, customer experience, mobility and analytics. It provides examples of how financial institutions have tapped the potential of digitisation to deploy a hybrid wealth management model — one of the most important industry trends for 2016 — to meet the challenges of diverse and rapidly changing investor demographics and demand.