Digital Wealth Management Features Radar 

About this Content 

This Digital Wealth Management Features radar report provides an overview of the global financial services application market, with a focus specifically on wealth management and private banking, omitting usual retail banking functionality even if they are present in the app. It can be used as a valuable resource, inspiring banks and wealth management firms to embrace transformative technology while remaining customer-focused. By evolving and leveraging innovative features, banks and wealth management firms can shape the future of digital banking, delivering seamless, personalised, and delightful experiences. 

We have analysed mobile apps worldwide, identifying essential features for robust digital banking experiences in wealth management. The radar categorises application features into three main types. The ‘MUSTS’ features are readily available on the market and not having these features in an app may lead to losing clients to competition. ‘DELIGHTERS’ are features that are not resoundingly common on the market. They are not necessarily a must have but do help to improve the customer experience. ‘DIFFERENTIATORS’ are the least common on the market and are often exclusive to specific Wealth Management players. If a customer wants to have this feature, they can’t just go to the competition. 

Key digital market trends shaping the wealth management industry include democratised investment access, personalisation, commoditisation of portfolios, improved customer experience, and the increased adoption of AI. Our review of mobile wealth management apps highlighted several insights that go hand in hand with these trends with many wealth management providers focusing on; empowering clients, going for holistic wealth management, using algorithms for personalisation, and migrating trader tools to apps.