Digital Wealth Management: Redefining Customer Engagement

According to a recent study, people spend an average of 3 hours and 50 minutes daily on their smartphones. Banking apps, however, are used for just a few minutes – and not every day. For many, managing finances feels like a chore rather than an enjoyable experience.

In the realm of Digital Wealth Management, this presents significant opportunities. Clients expect intuitive, always-available digital solutions. In this article, we explore how to leverage digital channels to enhance customer engagement and build lasting loyalty.

The Evolution of Wealth Management: From PDFs to Real-Time Data

Traditional wealth management apps often offer basic features like quarterly PDF reports. While these meet regulatory requirements, they fall short of modern client expectations.

Recommendation: Embrace real-time data delivered through user-friendly apps. This approach transforms Digital Wealth Management into a true value-add for clients.

Meeting New Client Expectations: Why Digital-First Matters

In the coming years, a new generation of investors will inherit substantial wealth. These clients are accustomed to digital banking experiences and demand the same level of sophistication from wealth managers. Platforms like True Wealth or Robinhood are setting the bar high, and traditional providers need to deliver clear advantages to stay competitive.

Creating Digital Experiences: The New Foundation of Loyalty

Previously, personal relationships were the cornerstone of client loyalty. Today, Digital Wealth Management enhances this with cutting-edge features like real-time market data, personalized notifications, and seamless communication tools.

Comprehensive Wealth Overview in a Single App

Modern wealth management apps should go beyond account balances by incorporating non-bankable assets such as real estate or art. A holistic view builds client trust and strengthens your advisory relationship.

Communication in the Digital Age

Secure tools like video chat, messaging, and co-browsing are game-changers. They enable GDPR-compliant communication while fostering stronger connections through regular interactions.

Tip: Combine these channels with data-driven insights to deliver proactive recommendations. This is the next step in Digital Wealth Management.

How fincite Can Help

At Fincite, we redefine Digital Wealth Management with our platform, fincite • cios. Our solutions offer:

• Real-time data on assets and liabilities

• Integration of non-bankable assets like real estate and luxury items

• GDPR-compliant communication via modern channels

Enhance customer satisfaction and secure your market position through digital innovation. Request a free demo today!