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Well before the pandemic hit, there was a major drive by the digital brokerage and execution platforms to attract Independent Wealth Managers (IWMs) by offering their services at lower cost than the banks and private banks.
FIDLEG is the Swiss answer to MiFID II and defines Investor Protection rules for financial services companies.
In light of increasing standards within private banking, a clear definition of the services delivered to clients is necessary.
Margins in private banking, especially among affluent customers are under pressure. New competitors are entering the market with semi- or fully digitized investment solutions.
Although insurers have been relying on harmonized processes and standard software for contract management and claims management for some time, the transformation is not yet complete for many of them.
Falling margins and increasing regulation are putting private banks and asset managers under pressure. Competitors are focusing on digitalized investment solutions.
Margins in private banking, especially among affluent customers are under pressure. New competitors are entering the market with semi- or fully digitized investment solutions. In addition to that, customers are demanding tailor-made solutions. All this in an environment that is becoming even more regulated. In order to deal with these challenges, the private bank has set itself the goal of enhancing its offering with a fully digitalised investment management mandate.