Challenger banks and fintechs are no longer just startups struggling for recognition. In recent years, they have achieved remarkable growth rates and acquired considerable market shares, and for good reasons. The digital user experience and vision they create are truly revolutionary for the financial industry.
This revolution in banking might not have the same impact on wealth managers as it has had on commercial banks, as personal interaction, trust and brand take precedence in wealth management. However, the need for a superior user experience is a strong indicator for the future and a trend that the wealth management industry is heading towards. Younger generations are unlikely to settle for anything less than a state-of-the-art integrated digital channel experience in any interaction with their bank.
Read more about the wealthtech challenges and the key ingredients of a successful Wealth Management digital channel platform.