wealth management for the digital age customer · -world wealth report, rbc & capgemini $4.7...
TRANSCRIPT
External Unrestricted ©2016 EdgeVerve Systems Limited
Abhra Roy
March 14, 2016
Wealth management
for the digital age customer
TRENDS IN
TODAY’S WORLD
Middle East: Customers now need a smarter, digital bank
Source: World Wealth Report, RBC & Capgemini
Prefer working with a single firm as
compared to multiple firms
Prefer personal wealth
management advice as compared
to family wealth advice
Are focused on straightforward needs
and simple investment instruments
HNWI Population : 0.61 million
HNWI Wealth : US$ 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
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
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
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
API enabled
ecosystem
Enables bank to
connect with
services
leveraging IoT or
wearables
Critical in
developing
a partner
ecosystem
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
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
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
We believe to succeed you need to be #TrulyDigital
Truly Digital paradigm has
four standout Characteristics
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:
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
I could check
their detailed
profiles
Choose
advisor
View
profile
Chat / call Check
accessibility
Even browse my portfolio
together and
Sign-off
pending
documents
Raffaelo Wolgers
************
With a separate sign on for the
financial advisor
Financial advisor can:
View
customer
details
View alerts,
proposals
and events
Financial advisor
can also:
Share
portfolios Track
portfolios
Configure
portfolios
View
historical
returns
Add &
replace
stocks
Share it
with
community
Check
adequacy
& risk
Invite
customers
for a virtual
meeting
Customer’s screen is shared
with advisor to:
Use
simulation
tools and
calculators
Discuss
on
portfolio
24
On a screen share, customer
can checks investment
proposals
Seek
customer’s
sign-off in
the digital
session
25
Customer can sign-off
online through
OTP
Customer
signs-off
through OTP
received on
mobile in the
digital session
26
Updated client portfolio post
sign-off
27
Thank You
It’s time to tee off
External Unrestricted ©2016 EdgeVerve Systems Limited