This paper is the result of our ongoing market analysis, undertaken during the first half of 2021, investigating specifically how the European Wealth Management sector has reacted to the challenges brought about by the pandemic, and the technology trends leading CAPEX investments moving forward in 2022.
The Imperative of Client Centricity
The Wealth Management sector has rediscovered the importance of client centricity. Traditionally providing tailored experiences in a relationship-based business, firms are now adapting to the digital world and underlying new client expectations.
The “Bionic” Advisor
Augmented advice can leverage artificial intelligence, machine learning and data analytics to optimise investment strategies, provide bespoke product offerings, deliver personalised communication and reporting, and properly address the next-gen client requests. To achieve the goal of providing a truly opti-channel experience to these new generations of investors, advisors need to fuse the human touch with scalability.
A Never-Ending Digital Transformation
True and comprehensive digital transformation affects the highest-level strategy, process design, operations and business models. Tangible value of digital change comes in three steps.
Firstly, by building a reliable, open and consistent digital business data layer. Next, by offering a digital client experience. Finally, wealth managers have to make digital the new standard, completing the open wealth architecture with digital native business processes.
A Wealth of Ecosystems
Wealth Management firms are seeking to move away from decoupled and independent IT systems towards a fully integrated wealth ecosystem that handles all business operations through a front-to-back open and modular suite, providing a digital integrated experience to both wealth management professionals and their clients.
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About ObjectWay
Founded in 1990, Objectway Group is a leading provider of investment management and digital software solutions to the worldwide financial services industry. Our omni-channel, omni-device software platform supports the rapidly advancing digital revolution within the wealth and investment management segment.
Under the direction of CEO and founder Luigi Marciano, Objectway has seen steady growth since its inception, both organically and through strategic acquisitions, with revenues topping 60 million euros in fiscal year 2015. Our awarding-winning platform is the trusted choice of leading wealth and investment firms across the globe from EMEA to Canada to Central America.
From offices in Italy, Belgium, the UK, Ireland and South Africa, Objectway's roughly 500 employees support more than 100,000 investment professionals in 15 countries, who manage more than one trillion euros in wealth. For more than 25 years, we've kept our focus on a single vision: combining advanced technology with a deep understanding of business needs to help our clients reshape their wealth management services.
