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Digital Wealth Asia Forum 2019 HK - Highlights - Silvio Struebi

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1. What are the challenges and opportunities for this industry?

Video transcript

1. What are the challenges and opportunities for this industry?

Currently, the biggest challenge is definitely everything around fee transparency, fee disclosure rules, the whole process behind it, to ensure that what clients were promised in a pre-trade situation, that this also gets effectively charged at the end of the whole value chain. I think this is a huge challenge. Then before independently, we talked a lot about data security issues, because banks are now going into ecosystems, are exploring alternative business models, and here, data is vital. And I think that will keep them busy for the next years, because these issues have to be sorted out. On the opportunity side, I think digital brings huge opportunities, right? You can bring down the cost to serve, you can make RMs more efficient, you can actually provide them tools, or tools to clients, right? That at the end of the day, the self-servicing aspect is enhanced, and clients like to play around with these tools.

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