Strategies for Exploring Wealthy Markets - Retail Banking Technology (Strategy Focus)

Published by: Datamonitor

Published: Jun. 6, 2007 - 12 Pages

Table of Contents

DATAMONITOR VIEW

CATALYST

SUMMARY

ANALYSIS

Mass affluent wealth management moving up the agenda

Critical business challenges for targeting mass affluent growing market

Industry expansion favors those with existing relationships

Wealth managers must develop new platforms and infrastructure to create an ideal service model

The ultimate offering model serves as business foundation for creation of optimal wealth management platform

APPENDIX

Definitions

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

List of Figures

Figure 1: Mass affluent customers require a blend of products, transactions and advice - without paying a premium

Figure 2: What kind of institution is best positioned to provide the next generation of wealth management solutions?

Figure 3: Alternative angles from which wealth managers will explore growth

Abstract

Introduction

The mass affluent markets remain a growth opportunity for the banking sector as the liquid asset based of this customer group expands. Banks targeting this sector need to extend their offering beyond that of traditional retail banking in product bundling, customer service levels and customer understanding as well as develop a cost model that allows provision of this to lower wealth bands.

Scope

Covers both developed as well as emerging markets for wealth management

Areas covered include business challenges, emerging mass affluent space, FSIs targeting servicing wealth management segment and "ideal" service model

Highlights

As of 2007 'mass affluent' wealth management strategies are seeing strong traction from various market players like private banks, retail banks or retail brokers. The form these services are now taking is very different. Banks and other wealth management players now rarely talk of standalone strategies for mass affluent customers

The market conditions are reshaping FSIs' understanding of the mass affluent investors' confidence level. Volatile stock markets and fluctuating economic climate in various geographies have had a significant impact on the retail brokerage sector, and by extension on eWealth Management offerings based on the discount brokerage model.

Despite the growth in international expansion, the emerging wealth management opportunity will not be limited to the largest institutions.

Reasons to Purchase

Gain visibility into the dynamics of the wealth management technology market

Gain market insight to assist in your strategic planning and go-to-market strategy

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