COVID-19 has prompted many Wealth Management firms to reevaluate investment priorities for 2020 and beyond. The following report attempts to provide clarity in a period of great uncertainty by projecting IT spending out to 2023. Celent’s comprehensive model integrates CIO survey data, macroeconomic forecasts and conclusions derived from historical precedents.
Additionally, this report provides 30+ use cases which are aimed at elucidating the impact of vanguard WM technologies, and identifying “top priority” areas of investment such as light-touch automation, hybrid advice enablement and digital onboarding.
As remote work models take precedent during the pandemic, strengthening cybersecurity is the top priority, alongside digital onboarding. With hybrid advice models taking center stage, firms are looking to enable frictionless user experiences by investing in digital biometric authentication, video/chat-based communication, and virtual assistants. Adoption of the hybrid advice model is starting to move up the wealth ladder at an accelerated pace.
Report Highlights:
- U.S. WM IT spending forecast for 2020-2023
- Models for 3 potential spending scenarios
- 30+ use cases highlighting best-in-class technologies
- Analysis based on Celent’s WM CIO Survey which indicates decision makers’ top priorities
- Identification of trends in these “top priority” areas of investments
Download a free sample of the report here:
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