Sonia Barquin

Oct 23, 2024 | mckinsey.com | Bernhard Kotanko |Joydeep Sengupta |Sonia Barquin

Banks, insurers, and asset managers in Asia–Pacific could soon be faced with a partial transition of new wealth flows to the tune of $700 billion of personal financial assets (PFA) to WealthTechs as customers look to digital platforms to help manage their increasing wealth. With the number of WealthTech companies in the region rapidly growing to meet this burgeoning demand—and customer preferences shifting—financial institutions may need to reassess their digital wealth management offerings.