Building a Technology Platform for the “Ultimate Offering” - Retail Banking Technology (Review Report)

The mass affluent market remains a growth opportunity for the banking sector as the asset base of typical investors expands. Banks targeting this sector need to extend their offering beyond a traditional retail bank offering: more product bundling, stronger and multi-channel customer and advisor service options and deeper understanding of customer data.



Report Highlights
The mass affluent and high net worth markets have recovered from the downturn of 2001, and presently exceed 2000 levels in terms of the number of wealthy individuals and the value of liquid assets they hold. Since the beginning of the century, wealth management returns have been solid, although the strongest period may be at an end. As of 2007 ‘mass affluent’ wealth management strategies are seeing strong traction from various market players such as private banks, retail banks and brokers. The form these services are now taking is very different. Banks and other wealth management players now rarely talk of standalone strategies for mass affluent customers. As wealth managers seek greater competitive differentiation, they need to develop an “ideal” service model. The Ultimate Offering, an architecture comprised of seamlessly interconnected, SOA-enabled components combined with underlying business intelligence and analytical CRM components, is emerging as the IT model in private banking.


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Table 1: Global Wealth Management Technology spending, 2006-2012, by regions ($m) 32
Table 2: North America: Wealth Management Technology spending, 2006-2012, by countries ($m) 33
Table 3: North America: Wealth Management Technology spending, 2006-2012, by line of business ($m) 34
Table 4: North America: Wealth Management Technology spending, 2006-2012, by activity ($m) 35
Table 5: North America: Wealth Management Technology spending, 2006-2012, by source ($m) 36
Table 6: Western Europe: Wealth Management Technology spending, 2006-2012, by countries ($m) 37
Table 7: Western Europe: Wealth Management Technology spending, 2006-2012, by line of business ($m) 38
Table 8: Western Europe: Wealth Management Technology spending, 2006-2012, by activity ($m) 39
Table 9: Western Europe: Wealth Management Technology spending, 2006-2012, by source ($m) 40
Table 10: CEE: Wealth Management Technology spending, 2006-2012, by countries ($m) 41
Table 11: CEE: Wealth Management Technology spending, 2006-2012, by line of business ($m) 42
Table 12: CEE: Wealth Management Technology spending, 2006-2012, by activity ($m) 43
Table 13: CEE: Wealth Management Technology spending, 2006-2012, by source ($m) 44
Table 14: Emerging APAC: Wealth Management Technology spending, 2006-2012, by countries ($m) 45
Table 15: Emerging APAC: Wealth Management Technology spending, 2006-2012, by line of business ($m) 46
Table 16: Emerging APAC: Wealth Management Technology spending, 2006-2012, by activity ($m) 47
Table 17: Emerging APAC: Wealth Management Technology spending, 2006-2012, by source ($m) 48
Table 18: Developed and NI: Wealth Management Technology spending, 2006-2012, by countries ($m) 49
Table 19: Developed and NI: Wealth Management Technology spending, 2006-2012, by line of business ($m) 50
Table 20: Developed and NI: Wealth Management Technology spending, 2006-2012, by activity ($m) 51
Table 21: Developed and NI: Wealth Management Technology spending, 2006-2012, by source ($m) 52


Figure 1: Mass Affluent and High Net Worth market sizes 8
Figure 2: Wealth Management Market Dynamics 10
Figure 3: Top 10 global private banks by worldwide assets under management 2001-2005 11
Figure 4: Growth rates for high net worth segment within emerging countries and leading economies 12
Figure 5: Mass affluent customers require a blend of products, transactions and advice - without paying a premium 15
Figure 6: What kind of institution is best positioned to provide the next generation of wealth management solutions? 18
Figure 7: Alternative angles from which wealth managers will explore growth 20
Figure 8: Wealth management technology architecture overview 25
Figure 9: The next-generation "ultimate offering" desktop 29
Figure 10: Priorities within data management initiatives amongst wealth managers 30
Figure 11: Global Wealth Management Technology spending, 2006-2012, by regions ($m) 32
Figure 12: North America Wealth Management Technology spending, 2006-2012, by countries ($m) 33
Figure 13: North America: Wealth Management Technology spending, 2006-2012, by line of business ($m) 34
Figure 14: North America: Wealth Management Technology spending, 2006-2012, by activity ($m) 35
Figure 15: North America: Wealth Management Technology spending, 2006-2012, by source ($m) 36
Figure 16: Western Europe: Wealth Management Technology spending, 2006-2012, by countries ($m) 37
Figure 17: Western Europe: Wealth Management Technology spending, 2006-2012, by line of business ($m) 38
Figure 18: Western Europe: Wealth Management Technology spending, 2006-2012, by activity ($m) 39
Figure 19: Western Europe: Wealth Management Technology spending, 2006-2012, by source ($m) 40
Figure 20: CEE: Wealth Management Technology spending, 2006-2012, by countries ($m) 41
Figure 21: CEE: Wealth Management Technology spending, 2006-2012, by line of business ($m) 42
Figure 22: CEE: Wealth Management Technology spending, 2006-2012, by activity ($m) 43
Figure 23: CEE: Wealth Management Technology spending, 2006-2012, by source ($m) 44
Figure 24: Emerging APAC: Wealth Management Technology spending, 2006-2012, by countries ($m) 45
Figure 25: Emerging APAC: Wealth Management Technology spending, 2006-2012, by line of business ($m) 46
Figure 26: Emerging APAC: Wealth Management Technology spending, 2006-2012, by activity ($m) 47
Figure 27: Emerging APAC: Wealth Management Technology spending, 2006-2012, by source ($m) 48
Figure 28: Developed and NI APAC: Wealth Management Technology spending, 2006-2012, by countries ($m) 49
Figure 29: Developed and NI: Wealth Management Technology spending, 2006-2012, by line of business ($m) 50
Figure 30: Developed and NI: Wealth Management Technology spending, 2006-2012, by activity ($m) 51
Figure 31: Developed and NI: Wealth Management Technology spending, 2006-2012, by source ($m) 52

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