Digital wealth management
Digital transformation and the buy vs build decision is one that all financial institutions face. Refinitiv explores a new hybrid strategy to lower total cost of ownership, bring digital strategies to market quickly and improve the client experience.
Today’s digital infrastructure offers financial firms an option that blends the control of in-house build with the lower cost, flexibility and support of the buy approach. We’ll call this approach a Buy/Build Blend (BBB).
Wealth management firms are entering a new phase of digital transformation. Fintechs are bringing new capabilities and approaches, and non-traditional tech competitors such as Apple and Amazon have established a higher bar for client expectations. These trends are forcing financial services firms to reevaluate their digital offerings.
This shift has all been compounded by the way COVID-19 has forever changed how financial firms engage with clients, and the urgency has never been greater to complete the digital transition.
Firms that can adapt quickest to the needs of global investors and advisors will win, while those who lag in their digital development will likely experience declining engagement and business. The Buy/Build Blend (BBB) approach rapidly advances firms’ development times while freeing up internal resources to focus on customizing the experience to best reflects a firm’s brand.
Access the full report to find out:
- How to use a digital and data technology infrastructure “Building Blocks” approach to accelerate firms’ transformations
- How to enable a simple process for implementation and maintenance to allow firms to focus resources on points of differentiation
- How to maintain a robust digital infrastructure that enables firms to continuously innovate
The shift to digital has only been compounded by the way COVID-19 has forever changed how financial firms engage with clients, and the urgency has never been greater to complete the digital transition.