As the world slowly moves out of the pandemic, financial services firms are now aware of the criticality of virtual engagement to business resilience. Wealth management firms today are implementing state-of-the-art capabilities to cater to new-age clients and deliver adaptable and reliable services. Consistently addressing the evolving client demands in an era of ever-growing opportunities is an uphill task, requiring businesses to boost their attention-to-detail and identify the safest investments for long-term stability. Most key trends in wealth management arena in the last two years were driven by COVID-19.
The emergence and subsequent ubiquity of remote working and accelerated digital transformation journeys was pivotal in revolutionizing the banking sector. Technologies like machine learning (ML) and artificial intelligence (AI), blockchain, cloud technology, and edge computing are expanding the applicability of banking services. Through self-service banking channels, investors and wealth managers can now manage their assets in a highly streamlined and frictionless manner through user-friendly and secure mobile- and web-based portals. Cloud adoption is also boosting legislation changes regarding the security and ownership of customer data, skyrocketing the deployment of innovative data management offerings capable of delivering a precise and scalable asset management experience.
In this edition of Banking CIO Outlook, we present to you some of the most promising Canadian wealth management solutions and services providers. The edition features thought leadership articles from Nicole Sherman, Chief Operating Officer, Numerica Credit Union, Garnett Volk, Vice President at Conexus Credit Union, and Rush Blevins, Chief Information Officer at Flagship Credit Acceptance. The edition also showcases innovative solutions and services from companies, including Nest Wealth, which provides Canada’s first SaaS-based wealth management platform, and Genesis Wealth Management, a company that supports the fair screening of premium investment products for its clients through expertise-backed investment and financial planning.
