White Paper
Opportunity knocks: Why embedded finance is the next big thing in wealth management
The wealth management sector is undergoing a profound transformation. Over the next 20 years, we will witness what has been called "the greatest wealth transfer in history."
Wealth management customers are becoming progressively younger, more digitally savvy, and more diverse. And their financial priorities, how they expect wealth management firms to serve them, and even the definition of wealth management itself are changing.
Wealth management firms who seize this new customer demographic opportunity and launch digital embedded finance products today can gain a significant first-mover advantage that sets them up for long-term success.
Wealth transfer and democratization
People aspire to build wealth regardless of their backgrounds, financial situation, or the broader economic landscape. There are three key trends that are reshaping the demographics of wealth management and, in turn, the sector itself: transfer of wealth from baby boomers to younger generations, rise of women investors and proliferation of digital-first trading platforms.
Cards and accounts: stronger brand engagement
Consumers use cards on a daily basis, they can help establish and maintain a lasting connection with the brand while grocery shopping or buying new financial services products. Furthermore, spending data is a source of valuable insights that firms can use to better tailor their service to the individual. Embedded financial services can help streamline operations, build new revenue streams, and build stronger, longer-lasting relationships.
