Private banks in North America are ahead of the curve when it comes to FinTech adoption and innovation. Agile and flexible back-end IT systems as well as sophisticated, digital, customer-facing channels are crucial in engaging current and future clients. PBI asks some of the leading North American private banks what they are doing to win the technology race
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North America has all the ingredients to lead the FinTech evolutions that are taking place across the banking sector – particularly in wealth management.
The US is the birthplace of the robo-advice disrupters – with companies such as Wealthfront and Betterment leading the way.
Across the US and Canada, private banks can be divided into three groups – leaders, learners and laggards – when it comes to the technology adoption.
A small number of leaders are embracing all forms of innovation and are looking for new ways to generate revenue. There is a fast growing segment of learners who are open to new opportunities. There are, no doubt, laggards – institutions that are traditionally set in their ways and unwilling to change.
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By GlobalDataPBI spoke to some of the leading private banks in the US and Canada that are significantly investing in their technology roadmaps. We asked these banks about current technology priorities, digital offerings, future focus and FinTech trends of interest. Read on:
