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Digitalizing the Client Lifecycle for Global Wealth Management

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Digitalizing the Client Lifecycle for Global Wealth Management

October 2016

According to a recent report, the global private banking and wealth management industry is undergoing a buoyant resurgence after a difficult few years brought about by the global financial crisis of 2008, which saw a near 20% decline in global HNWI wealth.

With global HNW wealth expected to surpass $100 trillion by 2025, private banks and wealth management firms are now facing an unprecedented opportunity to grow both market and wallet share.

In this paper, we examine the core challenges facing the private banking / wealth management sector – namely challenges around Regulatory Compliance, Client Data Management and the Client Onboarding Experience.

We also propose ways in which the client lifecycle process can be digitized to onboard clients faster, more efficiently and in compliance with global and local regulations.

 

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