News Release – March 2019: How wealth management can utilise fintech for accountability

Digital transformation is reshaping industries and transforming markets beyond all recognition on a global scale. Nowhere is this more profound than the financial services sector which has seen unprecedented change in recent years.
As part of this evolution, the wealth management industry has the opportunity to harness the power of fintech to bring about major changes in standards of service, delivery and accountability.
A key area the wealth management sector can benefit from new financial technology is by improving its day-to day-reporting and analytics services. Smart investors know that it is wise to place their eggs in different baskets which in turn, means dealing with a multitude of banks, brokers and custodians.
As well as this, wealth managers must spread their investments around different financial markets, real estate and businesses to manage the overall risk associated with the industry.
Although with investments across many verticals, all producing a different return investment, it can often leave them without clarity and with reduced visibility into how their total wealth is performing. This in-turn is producing a different kind of risk altogether.
The latest technology like blockchain and cloud computing will ensure wealth management organisations can eradicate complicated transaction delays, saving time and money and allowing for better customer service.
Certain forward-thinking financial organisations are beginning to utilise these technologies to their advantage and get ahead of the market by incorporating these new digital initiatives as a way of finding new financial leads and ensuring customer retention is maximised…

TO READ THE FULL ARTICLE CLICK HERE