Digital Wealth Management Market expected to reach a value of USD 12. 15 billion by 2032, Segments Analysis by Top Key Players :Finastra, FactSet Insight, SS&C Tech, Temenos, Salesforce, FIS, Miles Software, Eze Software, SimCorp, AdvisorEngine

Mr Accuracy Reports announces the release of the report ' Digital Wealth Management Market Research Report by Category, form, Product, Type, End-User, Region - Global Forecast to 2032. The global wealth management platform market was valued at USD 4. 62 billion in 2021, and it is expected to reach a value of USD 12. 15 billion by 2032, registering a CAGR of 24. 56% over the forecast period (2022-2027)

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"The Global Digital Wealth Management Market size was estimated at a reasonable million USD in 2021 and expected to reach a healthy million USD in 2022, and is projected to grow at a steady CAGR to get a prominent million USD by 2027."

The market was studied across External Digital Wealth Management and Internal Digital Wealth Management based on Category. Report provides a basic overview of the industry including definitions, classifications, applications and Digital Wealth Management industry chain structure. Top Companies in this report are: Finastra, FactSet Insight, SS&C Tech, Temenos, Salesforce, FIS, Miles Software, Eze Software, SimCorp, AdvisorEngine

Key Highlights
The robust wealth management platforms offer support to a broad range of digital channels, such as smartphones, tablets, and browsers. This support enables cross-channel experiences which reduce friction between the customers of a financial institution and the financial advisors, resulting in more efficient operations. Also, the trading and investment management fees are dipping to zero while firms wrestle with decreasing margins. This has led a requirement for digitizing operations and finding efficiencies elsewhere.
Customer-centric business priorities, such as fully-digitized client onboarding, goal-based financial planning, and secure, real-time collaboration between the client and the financial advisor, thus, making the wealth management platforms to stand out. Some of the platforms offer AI components such as machine learning, natural language processing, and digital process automation to reduce exceptions, making the onboarding process paperless and frictionless.

Digital Wealth Management Market Segmentation by Type:

PC Terminal, Mobile Terminal.

Digital Wealth Management Market Segmentation by Application:

Enterprise, Government, Personal, Other

Key Market Trends

Investment Management Firms to Drive the Market Growth

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Investment management is the handling of financial assets and other investments by professionals for clients, generally by utilizing strategies and executing trades within a portfolio. The investment management industry has significantly changed over the years owing to several advancements, such as digitalization and automation. Low yields and increased volatility have considerably driven portfolio managers to implement sophisticated strategies that are straining their existing infrastructure. The use of derivatives has increased significantly, but most firms have concerns about their ability to handle them.

In addition, global regulation has become much more pervasive on the buy side, resulting in the creation of operational and compliance challenges for investment managers. New rules related to reporting, clearing, and margin requirements are pushing firms to revamp their processes and replace legacy systems. All these factors are driving investment management firms to utilize wealth management solutions.
Multiple wealth management platforms in the market have a command center that provides users with real-time portfolio insights as well as the ability to act immediately. The workstation manages all position and risk data, which ensures that investment managers are working with up-to-date and accurate information.

For instance, Calypso's (provider of front-to-back trade processing technology for both derivatives and cash instruments) investment management solution integrates with its multi-asset trading and collateral management platform. And the company's collateral optimization solution provides a single data repository for real-time views of all available and pledged securities coupled with existing margin calls.
Multiple startups are receiving significant funding for the development of investment management platforms. For instance, in December 2020, Vise, an AI-powered investment management platform for advisory practices to build and manage portfolios, announced the close of its USD 45 million Series B funding round, bringing the total capital raised since Vise's founding to over USD 60 million.

North America is Expected to Hold a Significant Market Share

The United States represents the largest economy globally and has been a significant market for wealth management platforms in the North American region. Several trends, including the advent of Blockchain, machine learning, natural language processing, digital process automation to reduce exceptions, and a push toward digitalization, are aiding the growth of the studied market in the region.

Wealth Management offerings in the North American region are becoming essential to attract and retain profitable retail customers. For instance, affluent mass customers in the region represent a significant part of the net income generated by retail banks. It is expected that their relationship with a provider of wealth management services is their most important financial relationship. As a result, many diversified financial services firms in the region expand on their wealth management businesses.

The industry in the region is in the midst of significant change where a new generation of investors, whose expectations and preferences have been shaped by new technologies and by their living through the last financial crisis, have brought new standards to the industry in terms of how investment products are being delivered.

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Competitive Landscape

The intensity of competitive rivalry is high, and the emergence of new software providers is growing globally. Particularly in emerging markets such as India, for instance, multiple start-ups have emerged in the domain, giving market incumbents a considerate amount of competition. The nature of the market studied makes it crucial for new market players to constantly keep track of the technological advancements, regulatory dynamics to maintain compliance while offering upgraded functionalities to the end-users.

December 2021 - Temenos Headquarters SA announced its expansion of the strategic relationship with Microsoft to meet the increasing demand from banks for SaaS and banking services delivered by Temenos Banking Cloud. This Collaboration with Microsoft is to develop financial services in the cloud to drive scalability, operational efficiency, and innovation.
July 2021 - Cincinnati, Ohio-based Fifth Third Bank chosen financial technology leader FIS to replace its legacy deposit and trust servicing systems with FIS next-generation platforms. The bank will replace its legacy, in-house advanced core banking system with the next-generation FIS Modern Banking Platform.

The report answers questions such as:

What is the Digital Wealth Management market size and forecast of the Global Market?
What are the inhibiting factors and impact of COVID-19 shaping the Global Digital Wealth Management Market during the forecast period?
Which products/segments/applications/areas to invest in over the forecast period in the Global Digital Wealth Management Market?
What modes and strategic moves are suitable for entering the Global Digital Wealth Management Market?

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