wealth management for the digital age customer · -world wealth report, rbc & capgemini $4.7...

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