Major wealth management firms are losing customers at an increasing rate. Once a very lucrative part of banking has started to quickly erode. Our team of experts got engaged with company to find out and analyze the root cause of the loss. After weeks of analysis, it was concluded that the firm was failing to meet the demand of integrated-channel experience from high net worth individuals, where they can get full control of their portfolio and any time access to wealth advisors at one place.

We worked with the firm for 10 months to integrate digital technology to the core of its business model. Our portfolio startups from wealth management, data analytics and cyber security, and a group of mentors with expertise in finance and cyber security worked with the firm and startups to build an integrated solution which enhanced the customer experience and met the demands like automated investment advisor, portfolio management, accounts and taxation support. In 10 months, all the digital channels were active and within five months of operations, the firm managed to recover the number of lost customers.

Impact

  • The firm regained the number of customer within first five months of operation and technologies incorporation like automated advisory helped the firm in expanding its services to target middle-income customers.
  • The client became one of the pioneer companies to provide digital wealth management solution in region.

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