- Preface
- About the Editors
- Acknowledgements
- 1: Introduction
- The Augmented Investment Management Industry
- FinTech Disruption Across the Wealth Management Value Chain – Will FinTech Dominate the Wealth Management Model of the Future or is there Still a Place for Traditional Wealth Managers?
- Definition of Wealth Management
- Wealth Management Value Chain
- What’s Driving Disruption in the Wealth Management Industry?
- Changing Customer Profile
- Where is the Current FinTech Development Focused Across the Wealth Management Value Chain?
- Where Will Innovation Disrupt the Wealth Management Value Chain?
- How Can Existing Wealth Managers Address the FinTech Challenge?
- Wealth Managers Need to Consider Partnering with FinTechs to Keep Up With the Pace of Innovation
- Disruption of the Wealth Management Value Chain Has Just Started
- Notes
- Embracing Emerging Technology
- WealthTech – Business as Unusual
- Welcoming an Artificial Intelligence Robot as a Colleague
- Essential Digitization in Wealth Management
- Becoming Millennial-Minded is Key for WealthTech
- “To Infinity and Beyond!” – Building WealthTech Applications has Never Been Easier
- 2: Digitizing Client Advisory and Robo-Advisors
- Ten Reasons Why Digital Wealth Management Will Become a Worldwide Market Standard
- What Do Wealthy Clients Think About Digital Wealth Management?
- Challenges of Digitizing Wealth Management Advisory
- The Hybrid Advice Model
- No “One Size Fits All” – Personalized Client Service and Social Selling in Wealth Management
- How to Give “Sleep-Tight” Robo-Advice
- How Gamification Can Attract Consumers to Sign Up
- The Counter-intuitive Reality of Robo-Advice Demographics
- How Emerging Technologies Will Change Emerging Markets – Welcome Robo-Advisor X.0!
- Presentation Technology – Enriching the Client Experience in a Physical and Virtual World
- Digital Super Powers – The Role of Artificial Intelligence in Wealth Management
- Using Artificial Intelligence in Wealth Management
- Digital Asset Management in 2020 – Seven Theses
- Making Digital Advice Personal is as Important as Making Personal Advice Digital
- 3: Digitizing Wealth Management Operations
- Digital Business Model for Wealth Management Operations as Matchmaker of Generations
- How a Digital Architecture Can Lead to Tangible Business Results
- Legacy Mindset Holding Us Back
- And Digitization is Much More Than a Cool App
- Achieving Quantifiable Business Results
- Managing the Customer Life Cycle
- Onboarding is Part of the Game
- Digitization Benefits All Types of Customer
- Ease for the Customer is Usually Easy for You
- Client Service/Maintenance
- Compliance and Regulators are Also Part of the Fan Base
- IT as a Foundation
- Identify the Utility Part of Your Business
- “Backboning” Your Financial Proposition
- The Personalization Pillar
- Digitizing Wealth Management
- Survival of the Fittest – Cyber Resilience
- Cyber Security as a Competitive Edge for Wealth Managers
- Adopt a Strategy that Offers Cyber Resilience
- Increase Customer Experience with Cyber Resilience
- Target Your Cyber Security Investments
- Put the Customer at the Centre of Your Cyber Resilience Strategy
- Wealth Managers Should Learn from the Technology Firms
- Notes
- 4: Digital Platforms, Products and Ecosystems
- Wealth Management-as-a-Platform – The New Business Architecture with PSD2
- Wealth Management – Preparing for a Digital Revolution
- How to Digitalize Wealth Management at Banks
- Digital Financial Battlefield
- Traditional Wealth Management Frameworks Under Attack
- Digital Wealth Management Frameworks: New Powerful Strategic Tools
- Survival in Wealth Management: Hybrid Transformation Options for Banks
- Building Digital Wealth Management Frameworks: Dealing With the Complexity of Financial Markets
- Three Steps to a Digital Wealth Management Framework
- Keeping the “Time-to-Market” Short is Important
- Key Success Factors in Gaining Market Share and Scale in Alternative Lending
- Personal Financial Intelligence – AI and the Future of Money Management
- Financial Forecasting and Portfolio Optimization in the 21st Century
- AI-Powered Wealth Management Products and Investment Vehicles
- Complexity of the Financial Markets and Big Data
- AI and Deep Learning: Adaptable and Self-Learning Capital Markets Modelling and Forecasting
- Partially Versus Purely AI-Driven Investing
- AI-Powered Investment Vehicles
- “AI-Smart”-Beta ETFs
- AI-Driven Sector (ETF) Rotation Strategies
- Autonomous, Pure AI Hedge Funds and Reinforcement Learning
- Plurality of Uncorrelated AI and Alternative Data-Driven Strategies
- AI and the Future of Finance
- Notes
- Wealth Managers Can Deliver Effective Client Outcomes with a Data-Driven Investment Process
- The Business Case for Gender Equality
- Fiduciary Robo-Selection is Possible in a New Fund Order
- 5: Blockchain Applications in Asset and Wealth Management
- Cryptocurrencies and Blockchain
- What is “Cryptocurrency”?
- What is an “Asset-Based Cryptocurrency”?
- How is an Asset-Based Cryptocurrency Created?
- Network Services
- The Network Platform
- The Wallet
- The Block Explorer
- Asset Supporters
- Market Opportunities
- Community Building
- Regulatory Concerns
- Token Exchange
- Security Mention
- Redemption Logistics
- Reconciliation of Value
- Conclusion
- How Blockchain Drives Innovation in Asset Management
- Use Cases and Monetization Challenges of Blockchain Applications in Wealth Management
- Blockchain as a Backbone to Asset and Wealth Creation
- Dreaming of a Ledger-Free, Globally Connected Wealth Management Industry
- Trust Arbitrage and the Future of the Wealth Manager – How Blockchain Innovations Can Crack the Code
- Founding Fathers Ring the Death Knell for Autocracy with a Pen
- The Story of the Firm, as Told by Economists
- Blockchain Innovations Can Make the Firm Feel the Pain
- Wealth Managers are Especially Vulnerable to – and Benefit from – Trust Arbitrage
- Smaller Wealth Managers are Getting a Raw Deal
- What If…
- Predictions are Difficult, Especially About the Future
- Notes
- Investment and Issuance Distributed in Blockchain
- Cryptocurrencies and Blockchain
- 6: Founders’ Success Stories
- 7: Enterprise Innovation
- Just Do It! Using the Buzz Around Innovation to Empower Banks and Asset Managers
- Leveraging Corporate Innovation by Opening Banks to External Ecosystems
- Definition of the Term WealthTech
- Insight: The First Robo-Advisor by a Major German Bank
- Corporate Innovation Accelerator as an Instrument to Enrich the Bank’s Innovation Potential
- Paradigms for a Beneficial Cooperation within a Corporate Innovation Accelerator
- The Need for Technical Interoperability within the Digital Banking Environment
- Intrapreneurship as an Option for Accelerating Corporate Innovation Potential from Within
- Conclusion
- Wealth Management is Dead, Long Live Wealth Management
- 8: Global Overview of WealthTech
- Is the Future of WealthTech Already in China?
- China, the Largest FinTech Market in the World
- BAT Giant Tech Players Continue Growth by Moving to Other Markets Such as Banking
- Tech Companies Also Emerge with Specific Value Propositions
- Traditional Banks are Developing FinTech Solutions In-House or are Acquiring Them
- The Future of Chinese FinTech
- Notes
- WealthTech in Latin America
- Challenges in the Japanese Wealth Management Market – Digital Issuance and Distribution of Japanese Real-Estate Securitized Products
- How to Unlock WealthTech in Turkey
- Is the Future of WealthTech Already in China?
- 9: What is the Future of WealthTech?
- The Networked Client
- The Investment Managers of the Future are Going to be Millennials
- Empowering Asset Owners and the Buy Side
- An Industry Driven by Digital, Data and Artificial Intelligence
- WealthTech – Taking Private Banking and Wealth Management Digital
- The Analogue Castle of Wealth Management is Under Siege
- Clients Request Tailored Solutions and “Bring Back the Fun”
- Understanding the Relevant Technologies for WealthTech
- Barbarians at the Gate? – The Forces of Disruption
- Act Now: Strategic “Ways to Play” in WealthTech
- How to Win in “High-Tech/ High-Touch”?
- Final Remarks and Outlook
- Notes
- The Wealth Management Canvas – A Framework for Designing the WealthTech Firm of the Future
- The Ingredients of IKEA’s Approach for a Starry Wealth Management – Choose to Change the Competitive Arena in a Mature Sector
- FinTech and the Wealth Management Challenge
- Cognitive Decision-Making with “Insights-as-a-Service”
- More Banking for Less Money
- How AI Will Cause Robo-Advice to Completely Outperform Human Advice
- Security in the Future of WealthTech
- How China is Shaping WealthTech and the Future of Financial Services
- From the Technological to the Financial Singularity – A Journey Without Return to the Future of Finance
- Welcoming the 2058 Class of the “Galactic Academy of Wealth Management”
- List of Contributors
- Index
- EULA
The WealthTech Book
The FinTech Handbook for Investors, Entrepreneurs and Finance Visionaries
Edited by
Susanne Chishti
Thomas Puschmann
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