Is the Private Wealth Sector Ready for the New Technologies and Their Business Applications?
The ubiquity of the topic and associated buzzwords has not helped much clarity, there is still confusion and rife misunderstanding. Inherently conservative, private bankers and wealth managers have been hesitant and slower to pursue opportunities in the area.
At the very end of 2018, Synpulse polled 50 senior executives
from a balanced mix of operating companies (private banks and wealth management firms), and their traditional fintech vendors (providers of core banking or portfolio management solutions, not explicitly specialising in DLT).
We found that awareness is still lagging behind the broader financial services sector: four in five respondents have vague or superficial knowledge on the subject, one in ten admitted total ignorance, and only a small fraction consider themselves experts