The WEALTHTECH Book

The WEALTHTECH Book : The FinTech Handbook for Investors, Entrepreneurs and Finance Visionaries

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Description

Get a handle on disruption, innovation and opportunity in investment technology


The digital evolution is enabling the creation of sophisticated software solutions that make money management more accessible, affordable and eponymous. Full automation is attractive to investors at an early stage of wealth accumulation, but hybrid models are of interest to investors who control larger amounts of wealth, particularly those who have enough wealth to be able to efficiently diversify their holdings. Investors can now outperform their benchmarks more easily using the latest tech tools.


The WEALTHTECH Book is the only comprehensive guide of its kind to the disruption, innovation and opportunity in technology in the investment management sector. It is an invaluable source of information for entrepreneurs, innovators, investors, insurers, analysts and consultants working in or interested in investing in this space.


* Explains how the wealth management sector is being affected by competition from low-cost robo-advisors


* Explores technology and start-up company disruption and how to delight customers while managing their assets


* Explains how to achieve better returns using the latest fintech innovation


* Includes inspirational success stories and new business models


* Details overall market dynamics


The WealthTech Book is essential reading for investment and fund managers, asset allocators, family offices, hedge, venture capital and private equity funds and entrepreneurs and start-ups.
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Product details

  • Paperback | 336 pages
  • 190 x 246 x 16mm | 732g
  • New York, United States
  • English
  • 1119362156
  • 9781119362159
  • 329,545

Back cover copy

WORK WITHIN THE FINTECH DISRUPTION TO CAPTURE A NEW, MORE LUCRATIVE MARKET

Low-cost robo-advisors, blockchain-based systems, new business models and a proliferation of direct-to-client applications are already affecting the wealth management sector. This trend will only grow as global wealth continues to increase, and new technologies such as big data analytics, artificial intelligence and distributed ledger technologies enable entirely new and more cost-effective and client-responsive approaches to wealth management. The WealthTech Book helps savvy practitioners join the digital evolution of the financial services industry, with a comprehensive resource for competing in the new paradigm. Learn the latest developments in wealth management technology Examine the insights of cutting-edge scientists and practitioners Explore new approaches to analytics, data mining and more Understand market dynamics and the future of wealth management Future-proof your career with fintech innovation

The movement toward digitization along the entire wealth management value chain is not going away, and traditional approaches are already floundering as wealth management becomes more accessible, affordable and eponymous. The WealthTech Book provides investors, advisors and finance visionaries with an invaluable resource for tapping the huge customer potential of this rising market.
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Table of contents

Preface viii


About the Editors xi


Acknowledgements xiii


1. Introduction


The Augmented Investment Management Industry 7


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? 11


Embracing Emerging Technology 16


WealthTech - Business as Unusual 19


Welcoming an Artificial Intelligence Robot as a Colleague 23


Essential Digitization in Wealth Management 28


Becoming Millennial-Minded is Key for WealthTech 31


"To Infinity and Beyond!" - Building WealthTech Applications has Never Been Easier 34


2. Digitizing Client Advisory and Robo-Advisors


Ten Reasons Why Digital Wealth Management Will Become a Worldwide Market Standard 42


What Do Wealthy Clients Think About Digital Wealth Management? 45


Challenges of Digitizing Wealth Management Advisory 50


The Hybrid Advice Model 53


No "One Size Fits All" - Personalized Client Service and Social Selling in Wealth Management 57


How to Give "Sleep-Tight" Robo-Advice 62


How Gamification Can Attract Consumers to Sign Up 65


The Counter-intuitive Reality of Robo-Advice Demographics 68


How Emerging Technologies Will Change Emerging Markets - Welcome Robo-Advisor X.0! 71


Presentation Technology - Enriching the Client Experience in a Physical and Virtual World 74


Digital Super Powers - The Role of Artificial Intelligence in Wealth Management 77


Using Artificial Intelligence in Wealth Management 80


Digital Asset Management in 2020 - Seven Theses 83


Making Digital Advice Personal is as Important as Making Personal Advice Digital 86


3. Digitizing Wealth Management Operations


Digital Business Model for Wealth Management Operations as Matchmaker of Generations 94


How a Digital Architecture Can Lead to Tangible Business Results 97


The Personalization Pillar 101


Digitizing Wealth Management 105


Survival of the Fittest - Cyber Resilience 108


4. Digital Platforms, Products and Ecosystems


Wealth Management-as-a-Platform - The New Business Architecture with PSD2 116


Wealth Management - Preparing for a Digital Revolution 120


How to Digitalize Wealth Management at Banks 123


Key Success Factors in Gaining Market Share and Scale in Alternative Lending 127


Personal Financial Intelligence - AI and the Future of Money Management 132


Financial Forecasting and Portfolio Optimization in the 21st Century 135


AI-Powered Wealth Management Products and Investment Vehicles 138


Wealth Managers Can Deliver Effective Client Outcomes with a Data-Driven Investment Process 142


The Business Case for Gender Equality 147


Fiduciary Robo-Selection is Possible in a New Fund Order 151


5. Blockchain Applications in Asset and Wealth Management


Cryptocurrencies and Blockchain 158


How Blockchain Drives Innovation in Asset Management 162


Use Cases and Monetization Challenges of Blockchain Applications in Wealth Management 166


Blockchain as a Backbone to Asset and Wealth Creation 170


Dreaming of a Ledger-Free, Globally Connected Wealth Management Industry 173


Trust Arbitrage and the Future of the Wealth Manager - How Blockchain Innovations Can Crack the Code 177


Investment and Issuance Distributed in Blockchain 181


6. Founders' Success Stories


Launching MeDirect Bank as a Challenger Bank 190


Empowering Women Financially - The Why and the How 194


Why I Left Goldman Sachs for FinTech 197


Moneymeets.com - Germany's Leading Personal Finance Management Portal 199


The 100 Trillion Dollar Market Failure 203


7. Enterprise Innovation


Just Do It! Using the Buzz Around Innovation to Empower Banks and Asset Managers 210


Leveraging Corporate Innovation by Opening Banks to External Ecosystems 213


Wealth Management is Dead, Long Live Wealth Management 216


8. Global Overview of WealthTech


Is the Future of WealthTech Already in China? 224


WealthTech in Latin America 227


Challenges in the Japanese Wealth Management Market - Digital Issuance and Distribution of Japanese Real-Estate Securitized Products 231


How to Unlock WealthTech in Turkey 234


9. What is the Future of WealthTech?


The Networked Client 244


The Investment Managers of the Future are Going to be Millennials 247


Empowering Asset Owners and the Buy Side 251


An Industry Driven by Digital, Data and Artificial Intelligence 254


WealthTech - Taking Private Banking and Wealth Management Digital 257


The Wealth Management Canvas - A Framework for Designing the WealthTech Firm of the Future 260


The Ingredients of IKEA's Approach for a Starry Wealth Management - Choose to Change the Competitive Arena in a Mature Sector 264


FinTech and the Wealth Management Challenge 267


Cognitive Decision-Making with "Insights-as-a-Service" 271


More Banking for Less Money 273


How AI Will Cause Robo-Advice to Completely Outperform Human Advice 275


Security in the Future of WealthTech 279


How China is Shaping WealthTech and the Future of Financial Services 282


From the Technological to the Financial Singularity - A Journey Without Return to the Future of Finance 285


Welcoming the 2058 Class of the "Galactic Academy of Wealth Management" 289


List of Contributors 292


Index 309
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About Susanne Chishti

SUSANNE CHISHTI is the Founder and CEO of FINTECH Circle and the FINTECH Circle Institute, the leading peer-to-peer learning platform providing in-person and online courses across fintech enterprise innovation, WealthTech, InsurTech, artificial intelligence and blockchain applications in finance, crypto-currencies and startup methodologies. As Co-Editor of the global Bestseller The FinTech Book, she has been selected as a "City Innovator Inspirational Woman" after working for 15 years across Deutsche Bank, Lloyds Banking Group, Morgan Stanley Investment Management and Accenture in London and Hong Kong.
THOMAS PUSCHMANN is Founder and Director of the Swiss FinTech Innovation Lab at the University of Zurich and member of the Swiss Innovation Council Innosuisse. Before his current position, Thomas was heading a large international financial services research project at the Universities of St. Gallen and Leipzig and was a visiting scholar at the MIT Sloan School of Management. He is an advisor for many strategic national and international initiatives and an advisory board member of various institutions.
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