The wealth management puzzle: deep dive I
Customers are increasingly informing themselves and embracing self-service. And their favoured means of accessing wealth management offerings on a self-service basis is the mobile app. Led by developments in the retail business, wealth managers will also have to respond.
At any given moment, one particular channel might be the most appropriate to meet a client’s need promptly. Seamless and transparent channel switch options are key to optimise the client experience.
Retail banks now offer multiple touchpoints for customers to connect with them. Wealth managers, by contrast, are still mainly focused on traditional interactions with their high-net-worth clients. This no longer reflects the reality of customers who increasingly expect flexible mobile-first solutions, regardless of the segment they’ve been assigned to.
Providing meaningful but cost-efficient service to clients is going to involve adopting a hybrid banking approach. PwC has successfully co-created state-of-the-art mobile banking apps enabling wealth managers around the world to provide a hybrid service giving the option of self-service support but enabling a seamless transition to physical channels. If you are aiming to optimise your distribution channel strategy, check out the deep dive paper and/or reach out to us.
Director, Operational Excellence & ESG Transformation Leader, PwC Switzerland
Tel: +41 58 792 26 50
Manager, Customer Transformation, PwC Switzerland
Tel: +41 58 792 10 81