Wealth managers are looking for greater efficiency and reduced costs while providing transparency and value to investors. According to the WealthTech Views Report, the time has come for a DLT-led paradigm shift.
Gathering the views of providers at the forefront of services for wealth and asset management, the latest WealthTech Views Report looks at how the digital transformation of the industry is taking shape.
Of particular note is the fundamental importance of blockchain and DLT for the future of wealth management. Similar to companies in the fund industry, wealth managers see the need to move forward and replace costly and inefficient processes and remove decades-old redundancies.
The use of DLT in wealth management is underway and the report reveals some common themes, as expressed by the ten international service providers.
All point out that wealth managers are only at the first stages of creating a new ecosystem. However, it is clear that DLT will enable them to move to a more data-based and client-centric business model. In the end, this will allow them to be more innovative and responsive to the needs of the market, individually and as a group.
FundsDLT is one of the contributors to this report and we are pleased to have been selected to give our views on this important topic.
This WealthTech Views Report is published by The Wealth Mosaic (TWM) together with Dr Efi Pylarinou, the well-known thought leader in finance and innovation.
The complete report can be downloaded at The Wealth Mosaic site.