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Perspectives

Asian Private Banks' Digital Odyssey: How to Embrace Digital Transformation

2015-04-13


Wealthy investors in Asia are digitally savvy, perhaps more so than those in other geographies. This makes it imperative for private banks in Asia to apply digital technologies to stay current with their clients' needs and desires. To contend with margin pressures and the growing competition from start-ups offering low-cost advisory services, Asia's private banks need to embrace digital to the core.

Wealthy investors in Asia are digitally savvy, perhaps more so than those in other geographies. This makes it imperative for private banks in Asia to apply digital technologies to stay current with their clients' needs and desires. To contend with margin pressures and the growing competition from start-ups offering low-cost advisory services, Asia's private banks need to embrace digital to the core.


This infographic presents a picture that is reassuring in parts but not-so-comforting in other aspects. It outlines the challenges that banks face when undertaking a digital transformation. These include a dearth of skilled data analysts and fragmented systems. Importantly, it proposes steps Asia's private banks can take to start the digital odyssey, breaking them down into actionable items.

For more information, read Asian Private Banks: How to Embrace Digital Transformation.

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Asian Private Banks' Digital Odyssey: How to Embrace Digital Transformation