Wealth management for the digital age customer · -World Wealth Report, RBC & Capgemini $4.7...
Transcript of Wealth management for the digital age customer · -World Wealth Report, RBC & Capgemini $4.7...
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External Unrestricted ©2016 EdgeVerve Systems Limited
Abhra Roy
March 14, 2016
Wealth management
for the digital age customer
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TRENDS IN
TODAY’S WORLD
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Middle East: Customers now need a smarter, digital bank
Source: World Wealth Report, RBC & Capgemini
Prefer working with a single firm as
compared to multiple firms
Prefer personal wealth
management advice as compared
to family wealth advice
Are focused on straightforward needs
and simple investment instruments
HNWI Population : 0.61 million
HNWI Wealth : US$ 2.28 trillion
Region Rank : 4 for HNWI Population
5 for HNWI Wealth
Customers Factsheet
real estate : 23.3%
cash : 22.7%
fixed income : 19.6%
equities : 19.1%
alternative investments : 15.4%
Investment preferences:
Middle East HNWIs invested more than
40% of their wealth into other regions,
with Europe attracting the highest share.
Rapid growth in the affluent segment
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Blockchain
to transform
share market
trading
Fund houses in UK are
exploring direct trading of
illiquid securities via
blockchain
Goldman Sachs filed a
patent for a securities
settlement system based
on a new cryptocurrency
called "SETLcoin".
SEC allows companies to
issue public securities
via blockchain
ASX to upgrade
share registry
with blockchain
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There will be
30 billion devices
connected
wirelessly to the
internet by 2020
- ABI Research
Worldwide IoT sensor
deployments by FSI
sector will grow from
2 trillion to 12 trillion
devices in 2020
- Deloitte
Insurance industry
will be leveraging IoT
for usage based
insurance for smart
homes and smart cars
IoT data will
influence
investment trends
for businesses
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By 2017, top tier banks will double the workloads being put into cloud technologies
– IDC FutureScape: W orldwide Financial Services 2016 Predictions
Cost savings &
usage-based billing
Business continuity Green IT
Business agility
and focus
Cloud computing for banks
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API enabled
ecosystem
Enables bank to
connect with
services
leveraging IoT or
wearables
Critical in
developing
a partner
ecosystem
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API enabled ecosystem – typical use case
A customer has
investments
across multiple
asset classes with
different providers
The app connects
with the providers
backend through
an API and
fetches the details
for the dashboard
A third party app
aggregates the
customers
portfolio details to
show as a single
view
The app vendor
pays the providers
for access to the
provider’s data.
The app vendor
may in turn charge
the customers for
the consolidated
financial
dashboard
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Smartwatch apps
to check balances and
transfer money are
now at many banks
Banks are exploring virtual reality through
Google glass and Oculus rift
Mobility & wearables
RBC partners with
Nymi for monitoring
heartbeat to
authenticate
contactless payments
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Digital is the way forward!
62% Want to view portfolio and
execute orders digitally
- World Wealth Report,
RBC & Capgemini
$4.7 Trillion Estimated revenue for
Fintech start-ups in 2015
- Goldman Sachs
57% Customers aged >40 feel
digital experience is a must
- World Wealth Report,
RBC & Capgemini
49% Expect advisory to be
digital as well
- World Wealth Report,
RBC & Capgemini
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We believe to succeed you need to be #TrulyDigital
Truly Digital paradigm has
four standout Characteristics
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Choose
my
financial
advisor
Manage &
collaborate
portfolio
Arrange a
virtual
meeting
with
advisor
Sign-off
digitally
on
investments
Hi, I’m Daniele Morris, the
COO at Fiat Auto.
My wealth management
platform is convenient and
easy!
It helped me:
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News: 23/02/2016 Finacle Bank is at Asian Wealth Management Forum 2016, HK
I can choose my advisor
News: 14/03/2016 Finacle Bank is at the Private Banker Middle East 2016, Dubai
Search by
location
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I could check
their detailed
profiles
Choose
advisor
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View
profile
Chat / call Check
accessibility
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Even browse my portfolio
together and
Sign-off
pending
documents
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Raffaelo Wolgers
************
With a separate sign on for the
financial advisor
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Financial advisor can:
View
customer
details
View alerts,
proposals
and events
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Financial advisor
can also:
Share
portfolios Track
portfolios
Configure
portfolios
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View
historical
returns
Add &
replace
stocks
Share it
with
community
Check
adequacy
& risk
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Invite
customers
for a virtual
meeting
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Customer’s screen is shared
with advisor to:
Use
simulation
tools and
calculators
Discuss
on
portfolio
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On a screen share, customer
can checks investment
proposals
Seek
customer’s
sign-off in
the digital
session
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Customer can sign-off
online through
OTP
Customer
signs-off
through OTP
received on
mobile in the
digital session
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Updated client portfolio post
sign-off
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Thank You
It’s time to tee off
External Unrestricted ©2016 EdgeVerve Systems Limited