Bridging digital gaps in wealth management: how to keep up with client expectations

Episode 26 of Banking Reinvented explores the evolving landscape of private banking and wealth management, focusing on how financial institutions can address shifting customer expectations.In this episode, host Tim Rutten sits down with Lennart Asshoff, Product Director of Wealth at Backbase, to discuss how private banks and wealth managers can complement traditional, relationship manager-driven services with whiteglove digital experiences. They discuss the challenges faced by institutions still operating with high cost-to-serve models and legacy systems.Tune in to learn how private banks and wealth managers can progressively modernize their systems to provide the digital experiences their clients demand.Curious to find out more about customer-centric banking? Follow us on LinkedIn:-> Backbase-> Tim Rutten-> Lennart AsshoffStep into the future of finance -> Check out our content hub(00:00) - Welcome to the Banking Reinvented podcast(02:12) - The role of cryptocurrencies in private banking(06:05) - Backbase’s stance on cryptocurrencies and regulatory challenges(08:42) - Generational wealth transfer and its impact on customer expectations(12:35) - The digital experience gap caused by legacy systems(17:25) - Balancing AI with human assist(22:45) - Digital experience as a key part of your brand(26:30) - Progressive modernization as a phased solution(30:48) - Key takeaways(33:16) - Episode wrap-up