Data-driven decision-making is revolutionising the wealth management industry in a multitude of ways, including process automation, customer interaction and risk management 
Author: Heba Rasheed, Senior Product Manager, ICS Financial Systems
July 10, 2020
Like every other industry that has been disrupted by digital transformation, the wealth management sector is facing many challenges. Customers expect to receive exactly what they want almost as soon as they ask for it, and this is reflected in their everyday interactions with businesses. Consumer habits are changing, and digital banking is now taken for granted.
The wealth management sector was first developed in the early 1900s to distinguish services that were particularly relevant to high-net-worth (HNW) and ultra-high-net-worth (UHNW) investors from mass-market offerings. Wealth management has since spread throughout the financial services industry to become part of many banks’ essential services.
During the global financial crisis of 2008, which…
