HUMAN OR TECHNOLOGY: THE FUTURE OF CUSTOMER EXPERIENCE IN PRIVATE BANKING & WEALTH MANAGEMENT
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Published:
Jun 20, 2024
Abstract
The Private Banking & Wealth Management industry is one of the most conservative and restricted spheres. It is slow to innovate and often strives to achieve security, risk control, back-office process excellence and compliance with ever-increasing regulatory requirements. However, nowadays this industry needs innovation more than ever. First of all, innovation in the field of attracting customers, creating and maintaining relationships with customers and establishing a better customer experience. Everything in the world is changing – from the nature of money and transaction technologies to the sociology and psychology of clients. Trust is fundamental, same as two hundred years ago. In this study, we will examine how thanks to innovations the most valuable asset in business – namely relationships with clients – are preserved by private banks and wealth managers.
How to Cite
Chumak, M. (2024). HUMAN OR TECHNOLOGY: THE FUTURE OF CUSTOMER EXPERIENCE IN PRIVATE BANKING & WEALTH MANAGEMENT. Baltic Journal of Legal and Social Sciences, 76-86. https://doi.org/10.30525/2592-8813-2024-spec-8
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Keywords
Private Banking, Wealth Management, Affluent, Mass Affluent, Premium Banking, business model, customer experience, employee experience, innovations
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