QINGDAO, China – September 22, 2017 – Temenos (SIX: TEMN), the software specialist for banking and finance, in cooperation with the Asia Financial Cooperation Association (AFCA) held the second Forum on Bank’s Asset Management.
AFCA, based in China is focused on creating all-win results, furthering advancements through cooperation and contributing to the healthy development of the financial sector. Over 70 attendees gathered at the forum to discuss how to seize the opportunities under China’s stricter financial supervision system and how to leverage technology with in the business. Within this context, Martin Frick, Regional Director of APAC, Temenos gave a keynote speech during the forum, sharing insights on wealth management in Asia.
Asia Pacific had been building momentum for years, first overtaking North America in high-net-worth individuals (HNWI) population in 2014. Now it has substantially increased its population lead in 2015 (with 5.1 million HNWIs, compared to Europe’s 4.2 million and North America’s 4.8 million). Asia-Pacific is expected to change the face of global HNWI wealth and lead the wealth management market.
According to a survey from Capgemini, Asia-Pacific clients prefer digital to human contact, and high-net-worth individuals are highly willing to use automated advisory services. Temenos aims to help financial institutions expand into the digital realm and serve their clients in a more efficient and profitable way.
During his address, Martin Frick shared:
“Wealth in Asia has been outgrowing the other regions and will continue to do so. However, there are significant hurdles to overcome in order to serve these individuals in a profitable way. An intelligent modularizing of banking products and services and technology can help to overcome these hurdles. The future of wealth management is about the successful use of technology.”