Latest Insightsmore on Latest Insights

Report: Millennials and Digital Wealth Management 2017

Reaching Millennials – The Next Big Opportunity in Digital Wealth Management

Millennials’ net worth will double within five years and they will inherit tremendous fortunes in the decades to come. However, while wealth managers’ existing offerings for the wealthy millennial generation are insufficient, the right digital products can address this deficit effectively. Based on in-depth, face-to-face interviews with wealthy young adults our report explores how digital platforms can ultimately gain the loyalty of this broad and heterogeneous demographic group... more >

Report: Mobile Apps for Banking 2016

Banking apps must up their game to grab Millennials' interest

While mobile devices continue their triumphant advance in the digital arena, the world’s leading retail banks are struggling to keep up with the fast-paced development of the innovative digital features their customers demand. These are key findings of the report that analyzes and ranks the mobile apps of 35 leading retail banks worldwide and, where applicable, the Apple Watch apps. In total, 130 apps were assessed according to 49 criteria. This year’s winner is again BNP Paribas with ... more >

Report: Mobile Apps For Wealth Management 2016

Wealth Managers Increasingly Offer Dedicated Apps to their Clients

Wealth managers have come to acknowledge the importance of mobile apps: More than 80 percent provide their clients with apps that cater exclusively and specifically to the needs of HNWIs. The share of exclusive apps for wealthy clients increased significantly compared to our last year’s survey. This is one of the key findings of our report for which we analyzed and ranked, in total, 60 mobile apps of 30 leading wealth managers worldwide. UBS, Credit Suisse and BNP Paribas top our overall ranking... more >

Report: Hybrid Robo-Advisors 2016

Hybrid Robos will Manage 10% of Investable Assets by 2025

Hybrid robo-advisory strategies represent a paradigm shift in the pace and path of change in the wealth management industry. We estimate that hybrid robo services will by 2020 grow to a size of USD 16,300 billion. This number constitutes just over 10% of the total investable wealth in 2025. This is a key finding of our report “Hybrid Robos: how combining human and automated wealth advice delivers superior results and gains market share"... more >

New Report: Banking on the Apple Watch

Banking on the Apple Watch: Time to Deliver Apps that Excite Clients

Despite the rapid market growth of smartwatches, and in particular the Apple Watch, the Apple Watch banking apps are not living up to their promises. This is a key finding in our report for which we analyzed and ranked the Apple Watch banking apps offered by 22 leading retail banks... more >

Report: Mobile Apps for Banking 2015

Banking apps are still failing to engage and attract customers, and in today’s fast-paced mobile technology environment, banks remain preoccupied with the provision of basic features. The winners of our 2015 ranking are DBS Bank (Singapore) and BNP Paribas (France). Runners up are ... more >

Event Presentation 03/2015

Our head of research, Steffen Binder, was recently invited to present our research on the impact of the mobile revolution for wealth management and private banking. We offer members of the MyPrivatebanking Research Community the main charts on the trends, usage numbers, best practices and conclusions for free. ... more >

Briefing 05/2015

The Apple Watch has been described as watch-like, but more of an extension to a phone. Will it evolve from this and will it play a leading role as part of a broader wearables trend thanks to Apple’s leading edge marketing?... more >

Global Survey of Mobile Disruption in Wealth Management 2014

Wealthy Shifting Financial Matters to Mobile Channels - Chinese HNWI Digital Winners Worldwide

More than 80% of the affluent/high-net-worth individuals worldwide use apps or mobile websites for financial matters. The Chinese are the most advanced users of mobile technology when it comes to their financial affairs. For instance, 96% of Chinese respondents are using mobile apps for financial transactions and information, whereas... more >

Report: Mobile Apps for Fund Management 2014

Only 10% of Fund Managers Worldwide Offer Mobile Apps

The vast majority of leading fund managers lack effective mobile apps strategies. This is one of the main finding of our new report "Mobile Apps for Fund Management 2014 - A critical channel to reach investors", which analyzes the mobile apps of 20 leading wealth managers worldwide and ranks Invesco, Franklin Templeton and Vanguard in the Top 3... more >

Report: Mobile Apps for Insurance 2012

Insurance Companies Miss Potential of Mobile Apps

Adoption of mobile apps in the insurance industry is still at a very early stage. For our new report we benchmarked a total of more than 100 apps offered by 30 leading insurance companies worldwide. The overall winner of the app ranking is the French AXA insurance group, followed by the AEGON group in second place and AVIVA in third. But less than 10% of global insurers have comprehensive app strategy ... more >
FinTech Trendsmore on FinTech Trends

Report: Digital Account Aggregation in Wealth Management 2017

Clients and Regulators Press for Automated Account Aggregation

Wealth management clients increasingly expect to access account information from various institutions in one digital interface and wealth managers are perfectly placed to take advantage of new automated account aggregation technology. Based on an in-depth analysis the status, trends and drivers in account aggregation in the US, Europe and Asia the report predicts that account aggregation will be the new normal in wealth management over the next 5-10 years. By comparing the strengths and weak... more >

Free Webinar - Wednesday, March 1, 2017

Chatbots - How Financial Institutions Should Employ Virtual Assistants

See the free recording of our webinar on the challenges financial institutions face when deciding to develop a bot.... more >

Report: Chatbots for Banking and Wealth Management 2016

Chatbots and Virtual Assistants set to take over Banks' Client Interaction

Chatbots as a means of customer interaction are taking the banking sphere by storm with more bots being launched every week. For the report we screened more than 100 banks, wealth managers and challenger banks in order to identify, analyze and profile the 44 most advanced and innovative chatbots today. Additionally, the report evaluates state-of-the-art chatbots by nine FinTechs and challenger banks and as well the offerings of eight B2B bot developers. ... more >

Report: Leading Robo-Advisors 2016

Robo-Advisory model at a tipping point and only those willing to change will survive

The robo-advisory model is at a tipping point with all current players needing further development if the robo concept is to prove long-lasting. Without further refinement on the part of individual robo-advisors themselves, a substantial portion of current providers will have difficulties succeeding in the long-term. This is one of the main findings of our report for which we analyzed and ranked 30 leading robo-advisors worldwide with Schwab Intelligent Portfolios, Indexa Capital and Nutmeg on t... more >

Report: Fund and Asset Managers Digital Presence for Institutionals and Advisors

Fund Managers Struggle with Compelling Digital Offers for Institutional and Advisors

The global leaders in fund and asset management have a lot of catching up to do with regard to their digital strategies targeting institutional investors and intermediaries. This is the key finding of our report for which we analyzed and ranked the relevant digital presences of the 20 leading fund and asset managers worldwide. The overall winner of MyPrivateBankings’s ranking is Invesco, followed by Vanguard and... more >

Report: From Disruption to Innovation in Digital Wealth Management

Wealth Managers Need a Fresh Approach to Innovation to Master the FinTech Challenge

Global wealth managers are embracing innovation, but in many cases they are not really addressing the deep strategic change that is putting the industry under more and more pressure. This is a key finding of this report, for which MyPrivateBanking surveyed 40 executives and innovation leaders of the leading global wealth management and private banking institutions. About 30% of respondents expect their innovation budgets to rise more than 20% within one year, and about half of these expect growt... more >

Report: Robo-Advisors 3.0

For Robo-Advisors a Better Customer Journey Becomes Matter of Survival

Too many robo-advisors demonstrate gaps and weak spots in the critical areas of digital onboarding and client assessment. While the robo phenomenon is here to stay, many of the robo-advisors will not survive. These are main findings of our new report for which we analyzed over 75 active robo-advisors in 13 countries and determined how to create a presence that succeeds in persuading website visitors to sign up as investors and then stay on board... more >

Investor Survey Report on Robo-Advisors and Wealth Management 2016

Robo-Advisors gain popularity with High-Net-Worth investors

The majority of affluent and high-net-worth individuals recognize the potential of robo-advisors and automated investment services to add value to their wealth management services. This is a main finding of MyPrivateBanking’s recent quantitative panel survey, with insights from 600 affluent and wealthy investors in the US and the UK. More than 70% of overall respondents think that such tools can positively influence their wealth manager’s advice and decision-making process and... more >

Report: Crowdfunding and Wealth Management 2015

Crowdfunding: a Major Threat to the Global Wealth Management Industry

Despite the explosive growth and potentially disruptive impacts of crowdfunding on private banks and wealth management companies, interest in crowdfunding on the part of the wealth management industry has remained very low. ... more >

Robo-Advisors Report 2015

The disruptive effects of robo-advisors and automated investment services to the traditional wealth management industry are growing. Whereas the market development in 2014 was dominated by the launch and growth of start-ups, established wealth managers have started to strike back and are opening up to the robo-trend ... more >

Report: Digital and Mobile Solutions for Financial Advisors 2015

Wealth managers’ traditional model of providing financial advice is under attack by computers with increasingly cognitive abilities, taking over tasks ranging from risk assessment and portfolio allocation to financial planning and tax optimization. But wealth managers can fend off these threats by applying the right technology themselves... more >

Robo-Advisors Report 2014

Assets Managed by Robo-Advisors will Skyrocket to $255 billion within Five Years

Robo-advisors, primarily web-based wealth management providers that offer automated investment services, will grow rapidly and pose a real threat to the business models of conventional wealth managers. Global assets under management (AuM) of the robo-advisor services will reach $14 billion by ... more >
Websites & Social Mediamore on Websites & Social Media

Report: Behind the Login of Wealth Managers Websites and Mobile Apps 2017

Many Wealth Managers' Websites and Mobile Apps Flounder Behind the Log-In

Wealth managers’ secure websites and mobile apps that require a client log-in perform very well in the delivery of basic capabilities, but they lack in the state-of-the-art personalization and instant communication features that would make a real difference for high-net-worth clients. This report performs a detailed assessment of the client-only websites and mobile apps offered by 15 of the largest global wealth managers and uncovers their strengths and weaknesses and identifies best... more >

Report: Websites For Wealth Management 2016

One-third of Wealth Managers' Websites Need Complete Relaunch

There is a growing digital divide between those wealth managers who offer engaging and client-friendly websites that are continually updated and improved, and those who are lacking in a number of key areas. This is a key findings of our report for which we analyzed and ranked the desktop and mobile websites of 35 leading wealth managers worldwide. Based on 36 criteria for the desktop websites and 21 criteria for the mobile websites. The overall winner of this year´s ranking wis ABN Amro, followe... more >

Report: Digital Wealth Management Offerings for UHNWs

Super-rich get only poor Digital Services from their Wealth Managers

Digital wealth management for the super-rich today is at a very immature stage. For our new report we analyzed the digital offerings targeted to ultra-high-net-worth clients by 12 leading private banks and family offices worldwide. We found few firms who have clearly recognized and reacted to the increasing significance of digital tools for their UHNW clients... more >

Report: Websites for Fund and Asset Management 2016

Top Fund Managers Slow to Provide Competitive Websites

The websites of the global leaders in fund and asset management fail to meet the highest standards in user experience and interactivity. This is a key finding of the new report which analyzes and ranks the desktop and mobile sites for individual investors of the world’s top 15 fund managers. The fund managers TIAA-CREF, Fidelity and Franklin Templeton top the ranking... more >

Report: Websites for Wealth Management 2015

In the sixth annual global analysis and ranking of the desktop and mobile websites of 40 leading wealth managers worldwide, MyPrivateBanking Research has selected the Top 5 wealth management website portfolios. ABN AMRO is the overall winner of this year´s ranking with 90 points (out of a maximum of 100), followed by DBS and Investec with 82 points respectively.... more >

Briefing 04/2015

Gamification has developed into an important tool for financial services firms to reach out to clients, prospects, job seekers, employees and other stake-holders. This brief encourages wealth management firms to use gamification as part of their digital strategy, it shows best practice cases and suggests strategic recommendation... more >

New Report: Social Media in Banking and Wealth Management

Over the last two years banks have improved their overall presence in social media, as the 20 leading banks worldwide have at least one presence on the major channels like Facebook, LinkedIn and Twitter. There are also encouraging levels of engagement with the visual social media channels Instagram and Pinterest.... more >

Report: Websites for Wealth Management 2014

Mobile Wealth Management Websites Trail Far Behind Desktop Web Siblings

This year’s benchmarking study shows that the global leaders in wealth management and private banking are on the right track with their desktop websites. However, their mobile websites, being largely neglected, represent a major weakness in the overall digital strategy of these firms. ABN AMRO Private Banking was able to defend last year’s top spot and ... more >

Report: E-Publications for Wealth Management Clients 2013

Despite the current electronic publishing revolution, many wealth managers are not yet offering a balanced portfolio of publications via electronic media for their clients. Although basic features, such as technical quality, prove to be satisfactory, the most critical shortcomings are in the areas of content offered and available media formats. ... more >

Analysis by Steffen Binder, Research Director

In his seminal work, ‘Competitive Strategy’, the world-renowned Prof. Michael Porter has identified five major forces that shape competition and success for the players in every industry. If you look at social media through the perspective of these five forces, the consequences they unleash for the competitive dynamic in the banking sector become very clear.... more >

Report: Social Media for Wealth Management 2016

Wealth Managers Need to Better Exploit Social Media

Wealth managers are still slow to effectively make use of the possibilities offered by Facebook, Twitter and other extremely popular social media platforms. For our report we analyzed the social media performance of more than 200 wealth managers worldwide, but found only few that manage to exploit social media’s viral marketing opportunities, such as ... more >
Future Trendsmore on Future Trends

Report: Digital Leaders in Wealth Management 2016

Majority of wealth managers lack a coherent strategy; few perform robustly across all digital channels

Today, even the digital leaders among the global wealth managers are still providing an uneven digital experience, performing well on one channel, but not as well on others. There is a general lack of a coherent, overarching cross-channel strategy for serving clients. This is a key finding of the report for which we analyzed and ranked the overall digital performance of 20 leading global private banks and wealth managers. The winners of our rankings are UBS and Merrill Lynch, followed by... more >
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