World Wealth Report 2022

‘A customer-first strategy is pivotal to wealth management success’, according to the Capgemini 2022 World Wealth Management Report. Last year saw huge wealth accumulated across the world as global economies recovered from the Covid setback, with the global HNWI population expanding by 7.8%, equating to 1.7 million new HNWIs. More broadly, the report presented four key highlights:

Digital platforms give banks new testing ground for personalised experiences

The world is moving towards a more tailored financial landscape, as consumers crave solutions that are designed for them. Recent data in this piece by PYMNTS shows that nearly three in four consumers seek a sense of “financial belonging” with their financial institution, but just 11% feel it. Trust, knowledge, access and a hybrid banking experience can maximise

HNW luxury preferences revealed in new Hurun survey

From Hermès Birkin Bags to ROLEX and Patek Philippe watches, investment-savvy HNW Chinese consumers have been turning to luxury brands against the backdrop of slowing economic growth. The latest study by The Hurun Research Institute revealed that 56 percent of China’s HNWIs will increase spending on personal luxuries in the next three years, and that could prove to be a lucrative

What is the Digital Rupee? How is it different from Cryptocurrency?

The Reserve Bank of India is set to launch the pilot of its central bank digital currency (CBDC), which it categorises as legal tender in a digital form. Commonly known as the digital rupee, it will be exchangeable at par with existing currencies and will be considered acceptable for payments and a safe store of

What does the private bank of tomorrow look like?

‘While the digital revolution continues to accelerate, the human element and trust remain at the heart of this activity of excellence.’ What does the private bank of tomorrow look like? A poignant question given recent events. In this forward-looking piece, Investment Week picks out the key factors that will shape the private wealth sector of

Digital banking app downloads surged 54% in 2022, exceeding 26 million

In recent years, digital banks have rapidly emerged as disruptive players in the financial industry, leveraging technology to provide innovative, customer-centric banking services. The lenders’ growth is partly highlighted by the number of app downloads for leading digital banking service providers.  According to data acquired by Finbold, downloads for selected six European mobile-only bank apps peaked

SVB & Signature Bank – A message from our CEO

Due to recent developments about Silicon Valley Bank (SVB) both in the UK and the US and Signature Bank in the US we wanted to provide our esteemed clients and partners with an update regarding our exposure to SVB and Signature Bank. The short answer is that our exposure is non-existent, as we have never held

What Knight Frank’s wealth report tells us about HNWI investment

Each year, Knight Frank publishes its Wealth Report, a deep dive detailing the finances of ultra-high net worth individuals or UHNWIs. For its 2023 report the company surveyed over 500 private bankers, wealth advisors, and family offices representing a combined wealth of more than $2.5 trillion. And while its report estimates the world’s richest people lost

Digital-First Banking Requires A Customer-First Approach

Customer first = Digital first 📲 For decades, smaller financial institutions have eaten up ground on their major competitors by focusing on providing a level of customer service that larger corporations can’t. Today, a customer first approach means providing a digital first solution as ease and efficiency become a clients top priority when engaging with

Wealth Resurgence Offers Opportunities

The UAE is preparing itself for a record influx of HNWI’s during 2023, with over 5,000 set to relocate there before the end of the year. The move is fuelling a booming private wealth market in the gulf as individuals look to take advantage of the good infrastructure and low taxes. It’s a continued sign