Asset and wealth managers that are too slow in transforming their digital propositions could potentially lose up to $79.2m per billion dollars of revenue, according to research conducted by Roubini ThoughtLab.
Conducted between April and June, the Wealth and Asset Management 2022: The path to digital leadership report surveyed a range of 1,503 global investment providers, while also interviewing 42 senior executives from financial institutions, consultancies and tech firms. It split the firms surveyed into three stages of digital transformation: 29% were labelled as 'advanced', 48% as 'transitioning' and 23% as 'beginning'. Multifonds' CEO Hale: Asset management industry in 'digital ice age' The report found the digitally-advanced firms, which invested 16.8% of their revenues in technolo...
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