Unlocking the value of wealth management data - Intersystems

Gain insights from leaders in wealth management in Asia Pacific

The Harnessing the Power of Data in Wealth Management virtual panel provides industry insights from experts such as Dr. Sekar Jaganathan, director of digital strategy, Kenanga Bank, who says wealth management is now about wealth creation through goal setting, risk profile management, and investment management.

Panelist and Bambu founder, Ned Phillips, believes people can be generally bad at managing money and making investment choices, with many people living a cashflow-negative life. He sees the new wealth management landscape at fully leveraging AI capabilities to offer individuals different scenarios based on how they could and should invest. It’s a fascinating evolution on low risk vs. high risk over term investment demonstrations. The relatable uses for using data and analytics in this way can also enable institutional investors to drive more value from huge portfolios running massive amounts of real-time analysis.

“Data is the new oil and is a limited resource”, according to Sachin Tonk, director in data, advanced analytics and privacy, Standard Chartered Bank. Sachin says managing data from now, keeping it hygienic and ethical, means it won’t be a problem. Instead, this will give organisations a chance to take a lead role in future changes with wealth management.

And as with the oil rigs in real life, the ethics of how data is utilised and operated upon may change in the future, once adverse impact is felt by the people. Therefore, Dr. Sekar opined that it’s important to get things right early and consider the lines in the sand today.

Michael Hom, head of financial services solutions at InterSystems, says new advances in wealth management technologies and the rise of data platforms are helping wealth managers to increase their customer base, but data privacy is a key consideration. While some industry observers may see the end of human financial advisors thanks to the arrival of AI in wealth management, Mike isn’t heralding the end of human financial advisors just yet. After all, humans are naturally diverse and some may prefer the human touch, while others may prefer the simplicity of interacting with a computer.

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