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Major players operating in the wealth management platform market are Avaloq, Backbase, Broadridge, Comarch, Dorsum Ltd, FIS Global, Fiserv Inc., InvestCloud, and InvestEdge.

Selbyville, Delaware, June 30, 2021 (GLOBE NEWSWIRE) —

Global Market Insights Inc. has recently added a new report on the wealth management platform market which estimates the market valuation for wealth management platform will cross US$ 7 billion by 2027 due to rise in the number of High Net Worth Individuals (HNWIs) and digitization across multiple sectors.

The growing adoption of wealth management platforms across multiple organizations to gain the insights and agility to make the best decisions at the right time and improve efficiency and profitability are fueling the market growth. The increasing digitization trend across organizations along with their shift toward cloud-based services is another factor driving the growth of the wealth management platform market. Cloud-based wealth management is providing major opportunities for the expansion of the market in the future. The companies operating in the market are focusing on emerging technologies such as cloud computing and edge computing to develop innovative solutions and services for their customers.  

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 The hybrid segment is anticipated to grow at a CAGR above 10% from 2021 to 2027. The hybrid advisory provides personalized and standardized advice. The hybrid advisory growth is attributed to increasing demand from enterprise-level businesses for generating computer-driven analysis to provide standardized advisory services. The increasing need for valuable analytical insights to automate operational workflows is expected to drive market growth.

The cloud deployment model is projected to witness exponential growth over the forecast period. Various businesses are implementing cloud services for easy access to data and to improve security and data privacy. In addition, the cost of ownership for BFSI allows organizations to invest in maintaining and supporting infrastructural developments.

The risk & compliance management is expected to hold a market share over 10% in 2020. The growth is attributed to increasing demand to develop a strong approach to risk management by integrating IT, operational, compliance, ESG practices, and third-party vendors. In addition, the adoption of Know Your Product (KYP) and Know Your Customer (KYC) compliance procedures along with Anti-Money Laundering (AML) and the anti-fraud system is anticipated to support the market growth over the forecast period.

The investment management firms are anticipated to grow at a CAGR of above 10% from 2021 to 2027. The growth is attributed to the increasing number of high net worth individuals as well as small business owners. In addition, a wealth management platform helps investment management firms to draft new policies to attract new investments and gain insights into the clients’ needs.

Europe is projected to generate the wealth management platform market revenue over USD 1 billion by 2027. The growth is attributed to increasing digitalization across multiple industries and the presence of leading wealth management platform providers such as Comarch SA, Finantix, and Temenos is further anticipated to provide lucrative opportunities for wealth management platform market growth.

The companies operating in the market are focused on partnering with public organizations to accelerate development. For instance, in May 2020, Avaloq signed a partnership agreement with Infosys to offer a wealth management platform through digital platforms. Under this partnership, Infosys helps to integrate Avaloq’s wealth management platform with the client’s legacy systems to transform them into efficient digital advisory platforms. This partnership helped the company to strengthen its portfolio and acquire a competitive position in the market.

Some major findings of the wealth management platform market report include:

  • Increasing shift toward online and mobile banking is expected to positively impact the market.
  • Europe is anticipated to hold a significant market share for wealth management platform due to increasing digitalization across multiple industries and presence of leading companies.
  • The companies operating in the market are focusing on integration of new technologies and portfolio expansion to cater to diverse customer requirements.

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Partial chapters of report table of contents (TOC):

Chapter 3   Wealth Management Platform Industry Insights

3.1    Introduction

3.2    Industry segmentation

3.3    Impact of COVID-19 outbreak

3.3.1    Global outlook

3.3.2    Regional outlook

3.3.2.1    North America

3.3.2.2    Europe

3.3.2.3    Asia Pacific

3.3.2.4    Latin America

3.3.2.5    Middle East & Africa

3.3.3    Industry value chain

3.3.4    Competitive landscape

3.3.4.1    Strategy

3.3.4.2    Distribution network

3.3.4.3    Business growth

3.4    Wealth management platform industry ecosystem analysis

3.4.1    Platfiorm provider

3.4.2    Cloud service providers

3.4.3    Government authorities

3.4.4    End users

3.5    Technology & innovation landscape

3.5.1    Predictive analytics

3.5.2    Blockchain

3.5.3    Human digital interface

3.6    Investment portfolio

3.7    Patent analysis

3.8    Regulatory landscape

3.8.1    North America

3.8.1.1    Gramm-Leach-Bliley Act of 1999, U.S.

3.8.1.2    The Sarbanes-Oxley Act of 2022

3.8.1.3    Federal Information Security Management Act (FISMA)

3.8.1.4    Dodd–Frank Wall Street Reform and Consumer Protection Act

3.8.2    Europe

3.8.2.1    The General Data Protection Regulation (GDPR) (EU)

3.8.2.2    European Market Infrastructure Regulation (EMIR)

3.8.2.3    Anti-Money Laundering Directive 2015/849/EU (AMLD)

3.8.3    Asia Pacific

3.8.3.1    Cybersecurity Law, China

3.8.3.2    Financial Instruments and Exchange Act of Japan (FIEA)

3.8.3.3    Foreign Exchange Management Act, 1999 (FEMA)

3.8.4    LAMEA

3.8.4.1    Cyber Security Framework, Saudi Arabian Monetary Authority (SAMA)

3.8.4.2    Federal Decree Law on Financial Covenants, UAE

3.9    Industry impact forces

3.9.1    Growth drivers

3.9.1.1    Increase in number of HNWIs across the globe

3.9.1.2    Growing digitalization across the financial sector

3.9.1.3    Rising adoption of AI and blockchain technology across wealth management solutions

3.9.1.4    Stringent government compliances related to financial sector

3.9.2    Industry pitfalls & challenges

3.9.2.1    Data safety & security issues

3.9.2.2    Higher dependency on traditional wealth management methods

3.10    Growth potential analysis

3.11    Porter’s analysis

3.12    PESTEL analysis

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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