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Digital vital for next gen wealth management

Balazs Fejes (FB), Co-Head Global Business at EPAM Systems, discusses how private banks must exploit digitalisation to meet the growing requirement of customers for sophisticated wealth management at low to no cost, and shares examples of how digital channels are driving business growth for wealth managers in Asia.

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Retail banking Security Financial inclusion Start ups

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Innovation Mobile & online banking

Comments: (1)

A Finextra member
A Finextra member 28 September, 2015, 16:27Be the first to give this comment the thumbs up 0 likes

This is aproduct with a great potential for all parties. The Community Banks have a huge challenge of producing this product. Banks normally want to charge fees for their products but this potential product will not have that enormous margin as most banks will like. This product will have to be available for all channels to deliver and have the ability to create transactions. Most importantly the banks are going to have to train the staff to think of the customers total financial products and not just the banks products. This is a huge change for bank because banks like to think they are rhe customers salvation to existings.

Great potential but a lot of thought and work.

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