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Perspectives

Asian Private Banks: Examining the Digital Divide Between Capabilities and Customer Needs

2016-04-06


Asia’s wealthy are a digitally-savvy bunch, who use technology extensively to manage their monetary assets. Private banks however, have not kept pace with the digital needs of this segment, according to our reading of the situation. We found that most top private banks in Asia do not offer a full-fledged mobile wealth management app to their clients. Several banks do not have smartphone access optimized for their websites. In the face of declining operating profit and increasing competition, especially from lean startups, these banks can no longer afford to dawdle on the digital path.

The following motion infographic examines the state of digital in Asia’s private banks and their plans for a digital transformation. It lists the main challenges that banks come up against in their digital quests. Click or tap to see what a successful digital banking odyssey for these institutions could look like.

Digital Transformation & Asian Private Banks

For a more detailed analysis, please read our report, Asian Private Banks: How to Embrace Digital Transformation.

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Asian Private Banks: Examining the Digital Divide Between Capabilities and Customer Needs