A few weeks ago I joined a panel debate about the drivers for digital transformation in wealth management at a Finextra event in London. Clients demanding more transparency over the performance of their investments so they can measure value for money is a key driver, but digital transformation also helps wealth managers to prove they are providing compliant advice to clients whilst doing so in a more cost effective manner. Then there is the huge opportunity to use technology to provide wealth management advice to the mass affluent through the use of cognitive computing or so called “robo-advisors”.
With the advent of cognitive computing and robotic process automation, there are a vast range of opportunities to help organisations to innovate in the wealth management business, so this week I took the plunge to become Director of Digitisation at Wipro Digital, the leading global digital transformation company that can bring all of these new technologies to bear to help wealth managers realise their full potential.