Mobile Apps for Wealth Management - How Innovation beats Complacency

  • ID: 4435667
  • Report
  • 153 Pages
  • MyPrivateBanking GmbH
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  • ABN Amro
  • BNY Mellon
  • Credit Suisse
  • Goldman Sachs
  • Julius Baer
  • RBC
  • MORE
This 153-page report tells you all you need to know for developing, optimizing and implementing a winning mobile app strategy for high-net-worth clients. Our research team of technology and wealth management experts conducted a detailed quantitative analysis of the strengths and weaknesses of the wealth-client focused mobile apps of 34 leading wealth managers worldwide (see below for a list of wealth managers analyzed). In total, almost 60 mobile apps were evaluated. The report provides an assessment and recommendations for the mobile app portfolios of each wealth manager and for the wealth management industry as a whole.

The report ranks the mobile apps offered by each wealth manager based on 53 criteria grouped into nine main categories of evaluation. The report also offers rankings based on an index of essential wealth services, the Wealth Services Index. Based on this thorough, data-driven analysis, the report derives best practices and provides strategic and practical recommendations for creating mobile apps that can engage both existing and new wealthy clients. 

The report gives wealth managers and financial services firms, technology vendors and consultants insights to the following questions:

How are the top 34 wealth managers’ mobile apps ranked overall as well as separately by the quality of each offered app feature?
What are the positive and negative characteristics that separate our top performers from the rest?
How did wealth managers’ mobile apps improve compared to last year’s benchmarking, and which areas still require substantial development?
What content, functionality, interaction and security measures should a mobile app have to catch the attention and satisfy the needs of high net worth individuals?
What kind of personalization features are important to improve value for HNWI clients?
What are the leading examples of these features in real wealth management apps?
How can wealth managers successfully balance security with ease of use? 
What capabilities are necessary to position your app as a remote channel for client and advisor interaction?
What can be learned from the wealth managers’ best practices among the mobile apps that were analyzed? How can wealth managers differentiate through their online offerings?
How can wealth managers ensure that a mobile app stands out compared to those of competitors?
How did the wealth management market for mobile apps develop over the last three years and what future needs will clients have?
How will client demand and technology development shape the mobile client solutions of the future? What can wealth managers do today to be ready for the evolving mobile wealth experience?

Main Content:

Benchmarking and ranking of the mobile apps of the world´s top 34 wealth managers based on 53 criteria and year-on-year performance developments
34 comprehensive profiles of the world’s leading wealth managers’ app strategies and app portfolios for HNWIs, including recommendations for each wealth manager
Ranking for each wealth managers’ mobile apps based on an index of essential wealth services. such as advanced portfolio features and interactive tools,, the provision of exclusive concierge-style services or the use of remote advisory and/or collaboration
15 Best Practices for various features, plus identification of must-have, advanced and particularly innovative features 
Drivers of change affecting the overall strategy and how wealth managers can take advantage of new trends
Heatmap comparing strengths and weaknesses of the mobile apps offerings from the 34 wealth managers
Actual and future needs of HNWI clients in respect to their wealth managers’ mobile apps. 
Recommendations on how a winning wealth manager´s mobile applications strategy should look

The report includes more than 50 visuals including graphs, screenshots and charts, and it comes with two additional files: 

Comprehensive data-appendix of 38 pages containing thorough evaluations of each firm according to 53 detailed criteria and a detailed ranking of the 34 analyzed wealth managers.
Key Insights Deck: easy-to-understand 7-slide presentation that summarizes key findings for quick sharing

The report analyzes the HNWIs mobile offerings from the following firms: 

ABN Amro, ANZ, Barclays, BNP Paribas, BNY Mellon, Charles Schwab, China Merchant’s Bank, Citi Private Bank, Coutts, Credit Suisse, Danske Bank, DBS Private Bank, Deutsche Bank, First National Bank, Goldman Sachs, HSBC, ING, Investec, J.P. Morgan Private Bank, Julius Baer, Merrill Lynch, Morgan Stanley, Nedbank, Bank of Singapore (OCBC), Pictet, RBC, Société Générale Private Banking, Standard Chartered Private Bank, TD Bank, UBS, Unicredit/Hypovereinsbank, US Trust, Vontobel, Wells Fargo.
Note: Product cover images may vary from those shown
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  • ABN Amro
  • BNY Mellon
  • Credit Suisse
  • Goldman Sachs
  • Julius Baer
  • RBC
  • MORE

1.0  Executive Summary 

2.0 2017 Rankings 

3.0 Methodology 
3.1 Case Selection 
3.2 the Evaluation Process 
3.3 Case Selection: Wealth Managers And Mobile Apps 2017 

4.0 Strategy: Navigating the Transformation of Digital Wealth Management 
4.1 the Case for a Strong Mobile App 
4.2 the State of the Wealth Management Ecosystem 2017 
4.3 the Transformation of Mobile Wealth Management Apps 
4.4 No Two Journeys Alike: Using Personalization to Provide a Unique And Tailored Client Experience 
4.5 Future (And Futuristic) Innovations That Could Transform Mobile Wealth Management Yet Again 
4.6 the Essential Components of a Successful Mobile App 

5.0 Top 15 Best Practices 
5.1 Design And Usability 
5.2 Platform Integration 
5.4 Use of Innovative Technology 
5.5 Value-Added Services 

6.0 Summary of Findings 
6.1 Positive Trends in Mobile Apps for Wealth Management 
6.2 Remaining Shortcomings of Mobile Apps for Wealth Management 
6.3 2017 Performance By Category 
6.4 Wealth Services Indicator 

7.0 Profiles 
ABN Amro  
BNP Paribas 
BNY Mellon 
Charles Schwab 
China Merchants Bank 
Citi Private Bank 
Credit Suisse 
Danske Bank 
DBS Private Bank 
Deutsche Bank 
Goldman Sachs 
Hsbc Private Bank 
J.P. Morgan Private Bank 
Julius Baer 
Merrill Lynch 
Morgan Stanley 
Ocbc / Bank of Singapore 
Royal Bank of Canada 
Societe Generale Private Banking 
Standard Chartered Private Bank 
TD Bank 
Unicredit / Hypovereinsbank 
US Trust 
Wells Fargo 


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  • ABN Amro
  • ANZ
  • Bank of Singapore (OCBC)
  • Barclays
  • BNP Paribas
  • BNY Mellon
  • Charles Schwab
  • China Merchant’s Bank
  • Citi Private Bank
  • Coutts
  • Credit Suisse
  • Danske Bank
  • DBS Private Bank
  • Deutsche Bank
  • First National Bank
  • Goldman Sachs
  • HSBC
  • ING
  • Investec
  • J.P. Morgan Private Bank
  • Julius Baer
  • Merrill Lynch
  • Morgan Stanley
  • Nedbank
  • Pictet
  • RBC
  • Société Générale Private Banking
  • Standard Chartered Private Bank
  • TD Bank
  • UBS
  • Unicredit/Hypovereinsbank
  • US Trust
  • Vontobel
  • Wells Fargo.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown