Wealth Management Platform Market Size is projected to reach USD 10.2 Billion by 2030, growing at a CAGR of 14%: Straits Research

New York, United States, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The wealth management platform is uniquely developed for the planning and monitoring financial services in conjunction with tax and legal advice, estate planning, personal retail banking services, and investment management. Financial institutions are building workflows to ease the lives of their consumers as a result of the expansion of digitalization across multiple industries and their continued focus on automating the system. Utilizing bank channels and other digital platforms, financial service providers are progressively adopting open application programming interface (API) frameworks to offer their financial services alongside third-party solutions.

The APIs allow service providers to access one another's products and services. However, conventional financial advisors are using in-house systems to accommodate investors' various tastes and clients' expanding needs. Wealth management platforms provide numerous advantages, including enriched and streamlined business, increased business process efficiency through system automation, regulatory compliance, services standardization, an Omni channel strategy, and a fantastic user experience.

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Digitization and Automation Propel the Global Wealth Management Platform Market

Following company policies, the market is adopting digitalization and process automation, both of which hold profit potential. Numerous organizations strive to accelerate digitization, boost operational efficiency, and fortify client interactions. Consequently, several end-use industries will likely accelerate their use of financial consulting and management solutions. Tools for wealth management can aid firms in keeping track of transactions and properly managing their assets.

Technological advances in blockchain and AI will propel market growth throughout the forecast period. The artificial intelligence system monitors the customer's expenditures and gives pertinent recommendations. The blockchain and AI monitor customer expenditures and trends and provide estimates based on this information. The system offers better user assistance and recommendations to manage costs based on these forecasts. In addition, enhanced security and protection for client data enable organizations to sustain consumer relationships, which is expected to be one of the primary drivers driving global market expansion.

Increased Adoption of Robo-Advisors in Wealth Management Creates Umpteen Growth Opportunities

The financial sector always uses cutting-edge technology to provide financial services cost-effectively and efficiently. During the global financial crisis of 2007–2008, when strict regulations were imposed on traditional banks and advancements in the IT sector boosted the incentives for expanding nonbank and technology-based financial firms, these cutting-edge and innovative technologies garnered considerable attention. Mobile payments, ATMs (automated teller machines), and blockchain-based trade finance are a few examples of technological breakthroughs in the finance industry. The technology disruptions in wealth management services include

Robo-advisors and computerized financial advisors are designed to compete with human advisors. Robo-advisors suggest various investment methods for goals such as retirement planning, saving for significant expenses, and maintaining a consistent income to cover bills. Robo-advisory management wealth services have several advantages over traditional services that rely on human advisory, including easy accessibility, affordability, and the ability to provide clients with the option of receiving financial advice and managing their investments whenever they desire from any Internet-connected location. Robo-advisory enables market participants in the wealth management platform sector to offer their services at competitive prices, facilitating their growth in the wealth management platform industry.

Report Scope

Report Metric	Details
Market Size	USD 10.2 billion by 2030
CAGR	14% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Deployment Type, By End-user
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Avaloq Group AG, Fidelity National Information Services, Inc. (FIS), Temenos Headquarters SA, Prometeia SpA, Backbase Inc., Tata Consultancy Services Limited, Fiserv Inc., InvestCloud Inc., EdgeVerve Systems Limited, CREALOGIX AG, Broadridge Financial Solutions Inc.
Key Market Opportunities	Increasing Adoption of Robo-Advisors in Wealth Management
Key Market Drivers	Need for Improved Experience in Financial Firms

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Regional Insights

By region, the global wealth management platform market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. 

North America accounts for the largest market share and is estimated to grow at a CAGR of 13.8% during the forecast period. The United States has been a key market for wealth management systems in the North American region as the world's largest economy. Several trends, including the introduction of blockchain, machine learning, natural language processing, digital process automation to eliminate exceptions, and a drive toward digitization, are contributing to the expansion of the studied market in the region.

In addition, customers in the region are moving away from risk-based portfolio construction and towards outcome-based planning across various dimensions (such as investments, banking, health, protection, taxes, and estate). Also, client expectations for virtual interaction, seamless app experiences, omnichannel assistance, and quick payments are expanding at a pace comparable to that of industries outside financial services. These shifting trends are anticipated to boost the market under study.

Europe is estimated to grow at a CAGR of 13.5%. In Europe, various industries have been disrupted by digital technology during the past decade, resulting in the emergence of new business models and the demise of incumbents. In wealth management, technology-driven business models are attracting new clients and assets. Additionally, the region is home to several necessary wealth management platform providers, including Temenos, Finantix, Avalantq, and others, whose fresh investments create new prospects in the region. By partnering with aggregators, numerous small and medium-sized fintech companies rapidly expand their services and customer base.

In addition, the EU's General Data Protection Regulation (GDPR) mandates that businesses take data protection measures and implement extensive record-keeping systems for data storage and management. The revised markets in financial instruments directive (MiFID), introduced in the same year as the GDPR, further strengthens client protection by enhancing product transparency, know-your-customer (KYC), and execution standards anticipated to boost the growth of the studied market in the region.

Key Highlights

• The global wealth management platform market size is estimated to reach USD 10.2 billion by 2030, growing at a CAGR of 14% over the forecast period (2022–2030).
• By deployment type, the global wealth management platform market is segmented into On-premises and Cloud. The Cloud segment accounts for the largest market share and is estimated to grow at a CAGR of 14.5% during the forecast period. 

• By end-user, the global wealth management platform market is segmented into Banks, Trading Firms, Brokerage Firms, Investment Management Firms, and Others. The Banks segment accounts for the largest market share and is estimated to grow at a CAGR of 13.8% during the forecast period. 

Competitive Landscape

Key players in the global wealth management platform market are Avaloq Group AG, Fidelity National Information Services, Inc. (FIS), Temenos Headquarters SA, Prometeia SpA, Backbase Inc., Tata Consultancy Services Limited, Fiserv Inc., InvestCloud Inc., EdgeVerve Systems Limited, CREALOGIX AG, Broadridge Financial Solutions Inc.

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Global Wealth Management Platform Market: Segmentation

By Deployment Type

• On-premises
• Cloud

By End-user

• Banks
• Trading Firms
• Brokerage Firms
• Investment Management Firms
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

TABLE OF CONTENT

1. EXECUTIVE SUMMARY
2. RESEARCH SCOPE & SEGMENTATION
   1. Research Objectives
   2. Market Definition
   3. Limitations & Assumptions
   4. Market Scope & Segmentation
   5. Currency & Pricing Considered
3. MARKET OPPORTUNITY ASSESSMENT

3. 1. Emerging Regions / Countries
   2. Emerging Companies
   3. Emerging Applications / End Use
   4. Investment Landscape
   5. New Business Models / Revenue Streams
   6. TAM

4. MARKET TRENDS

4. 1. Drivers
   2. Market Warning Factors
   3. Latest Macro Economic Indicators
   4. Geopolitical Impact
   5. Human Factors
   6. Technology Factors

5. MARKET ASSESSMENT

5. 1. Porters Five Forces Analysis
   2. Value Chain Analysis
   3. Sales And Distribution Channel Analysis
   4. Case Study Analysis
   5. Patent Analysis
   6. M & A Agreements & Collabration Analysis

6. ESG TRENDS
7. GLOBAL WEALTH MANAGEMENT PLATFORM MARKET SIZE ANALYSIS

7. 1. Global Wealth Management Platform Market Introduction
   2. By Deployment Type

7. 2. 1. Introduction

1. 1. 1. 1. Deployment Type By Value

7. 2. 2. On-Premises

1. 1. 1. 1. By Value

7. 2. 3. Cloud

1. 1. 1. 1. By Value

7. 3. By End-User

7. 3. 1. Introduction

1. 1. 1. 1. End-User By Value

7. 3. 2. Banks

1. 1. 1. 1. By Value

7. 3. 3. Trading Firms

1. 1. 1. 1. By Value

7. 3. 4. Brokerage Firms

1. 1. 1. 1. By Value

7. 3. 5. Investment Management Firms

1. 1. 1. 1. By Value

7. 3. 6. Others

1. 1. 1. 1. By Value

8. NORTH AMERICA MARKET ANALYSIS

8. 1. Introduction
   2. By Deployment Type

8. 2. 1. Introduction

1. 1. 1. 1. Deployment Type By Value

8. 2. 2. On-Premises

1. 1. 1. 1. By Value

8. 2. 3. Cloud

1. 1. 1. 1. By Value

8. 3. By End-User

8. 3. 1. Introduction

1. 1. 1. 1. End-User By Value

8. 3. 2. Banks

1. 1. 1. 1. By Value

8. 3. 3. Trading Firms

1. 1. 1. 1. By Value

8. 3. 4. Brokerage Firms

1. 1. 1. 1. By Value

8. 3. 5. Investment Management Firms

1. 1. 1. 1. By Value

8. 3. 6. Others

1. 1. 1. 1. By Value

8. 4. U.S.

8. 4. 1. By Deployment Type

1. 1. 1. 1. Introduction
            1. Deployment Type By Value
         2. On-Premises
            1. By Value
         3. Cloud
            1. By Value

8. 4. 2. By End-User

1. 1. 1. 1. Introduction
            1. End-User By Value
         2. Banks
            1. By Value
         3. Trading Firms
            1. By Value
         4. Brokerage Firms
            1. By Value
         5. Investment Management Firms
            1. By Value
         6. Others
            1. By Value

8. 5. Canada

9. EUROPE MARKET ANALYSIS

9. 1. Introduction
   2. By Deployment Type

9. 2. 1. Introduction

1. 1. 1. 1. Deployment Type By Value

9. 2. 2. On-Premises

1. 1. 1. 1. By Value

9. 2. 3. Cloud

1. 1. 1. 1. By Value

9. 3. By End-User
      1. Introduction

1. 1. 1. 1. End-User By Value

9. 3. 2. Banks

1. 1. 1. 1. By Value

9. 3. 3. Trading Firms

1. 1. 1. 1. By Value

9. 3. 4. Brokerage Firms

1. 1. 1. 1. By Value

9. 3. 5. Investment Management Firms

1. 1. 1. 1. By Value

9. 3. 6. Others

1. 1. 1. 1. By Value

9. 4. U.K.

9. 4. 1. By Deployment Type

1. 1. 1. 1. Introduction
            1. Deployment Type By Value
         2. On-Premises
            1. By Value
         3. Cloud
            1. By Value

9. 4. 2. By End-User

1. 1. 1. 1. Introduction
            1. End-User By Value
         2. Banks
            1. By Value
         3. Trading Firms
            1. By Value
         4. Brokerage Firms
            1. By Value
         5. Investment Management Firms
            1. By Value
         6. Others
            1. By Value

9. 5. Germany
   6. France
   7. Spain
   8. Italy
   9. Russia
   10. Nordic
   11. Benelux
   12. Rest Of Europe

10. APAC MARKET ANALYSIS

10. 1. Introduction
    2. By Deployment Type

10. 2. 1. Introduction

1. 1. 1. 1. Deployment Type By Value

10. 2. 2. On-Premises

1. 1. 1. 1. By Value

10. 2. 3. Cloud

1. 1. 1. 1. By Value

10. 3. By End-User

10. 3. 1. Introduction

1. 1. 1. 1. End-User By Value

10. 3. 2. Banks

1. 1. 1. 1. By Value

10. 3. 3. Trading Firms

1. 1. 1. 1. By Value

10. 3. 4. Brokerage Firms

1. 1. 1. 1. By Value

10. 3. 5. Investment Management Firms

1. 1. 1. 1. By Value

10. 3. 6. Others

1. 1. 1. 1. By Value

10. 4. China

10. 4. 1. By Deployment Type

1. 1. 1. 1. Introduction
            1. Deployment Type By Value
         2. On-Premises
            1. By Value
         3. Cloud
            1. By Value

10. 4. 2. By End-User

1. 1. 1. 1. Introduction
            1. End-User By Value
         2. Banks
            1. By Value
         3. Trading Firms
            1. By Value
         4. Brokerage Firms
            1. By Value
         5. Investment Management Firms
            1. By Value
         6. Others
            1. By Value

10. 5. Korea
    6. Japan
    7. India
    8. Australia
    9. Taiwan
    10. South East Asia
    11. Rest Of Asia-Pacific

11. MIDDLE EAST AND AFRICA MARKET ANALYSIS

11. 1. Introduction
    2. By Deployment Type

11. 2. 1. Introduction

1. 1. 1. 1. Deployment Type By Value

11. 2. 2. On-Premises

1. 1. 1. 1. By Value

11. 2. 3. Cloud

1. 1. 1. 1. By Value

11. 3. By End-User

11. 3. 1. Introduction

1. 1. 1. 1. End-User By Value

11. 3. 2. Banks

1. 1. 1. 1. By Value

11. 3. 3. Trading Firms

1. 1. 1. 1. By Value

11. 3. 4. Brokerage Firms

1. 1. 1. 1. By Value

11. 3. 5. Investment Management Firms

1. 1. 1. 1. By Value

11. 3. 6. Others

1. 1. 1. 1. By Value

11. 4. UAE

11. 4. 1. By Deployment Type

1. 1. 1. 1. Introduction
            1. Deployment Type By Value
         2. On-Premises
            1. By Value
         3. Cloud
            1. By Value

11. 4. 2. By End-User

1. 1. 1. 1. Introduction
            1. End-User By Value
         2. Banks
            1. By Value
         3. Trading Firms
            1. By Value
         4. Brokerage Firms
            1. By Value
         5. Investment Management Firms
            1. By Value
         6. Others
            1. By Value

11. 5. Turkey
    6. Saudi Arabia
    7. South Africa
    8. Egypt
    9. Nigeria
    10. Rest Of MEA

12. LATAM MARKET ANALYSIS

12. 1. Introduction
    2. By Deployment Type

12. 2. 1. Introduction

1. 1. 1. 1. Deployment Type By Value

12. 2. 2. On-Premises

1. 1. 1. 1. By Value

12. 2. 3. Cloud

1. 1. 1. 1. By Value

12. 3. By End-User

12. 3. 1. Introduction

1. 1. 1. 1. End-User By Value

12. 3. 2. Banks

1. 1. 1. 1. By Value

12. 3. 3. Trading Firms

1. 1. 1. 1. By Value

12. 3. 4. Brokerage Firms

1. 1. 1. 1. By Value

12. 3. 5. Investment Management Firms

1. 1. 1. 1. By Value

12. 3. 6. Others

1. 1. 1. 1. By Value

12. 4. Brazil

12. 4. 1. By Deployment Type

1. 1. 1. 1. Introduction
            1. Deployment Type By Value
         2. On-Premises
            1. By Value
         3. Cloud
            1. By Value

12. 4. 2. By End-User

1. 1. 1. 1. Introduction
            1. End-User By Value
         2. Banks
            1. By Value
         3. Trading Firms
            1. By Value
         4. Brokerage Firms
            1. By Value
         5. Investment Management Firms
            1. By Value
         6. Others
            1. By Value

12. 5. Mexico
    6. Argentina
    7. Chile
    8. Colombia
    9. Rest Of LATAM

13. COMPETITIVE ASSESSMENT

13. 1. Adoption Matrix
    2. Wealth Management Platform Market Share By Manufacturers
    3. Wealth Management Platform Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis

14. MARKET PLAYERS ASSESSMENT

14. 1. Avaloq Group AG

14. 1. 1. Overview
       2. Business Information
       3. Revenue
       4. ASP
       5. Gross Margin
       6. Swot Analysis
       7. Recent Developmments

14. 2. Fidelity National Information Services Inc. (FIS)
    3. Temenos Headquarters SA
    4. Prometeia SpA
    5. Backbase Inc.
    6. Tata Consultancy Services Limited
    7. Fiserv Inc.
    8. InvestCloud Inc.
    9. EdgeVerve Systems Limited
    10. CREALOGIX AG
    11. Broadridge Financial Solutions Inc.

15. RESEARCH METHODOLOGY

15. 1. Research Data

15. 1. 1. Secondary Data

1. 1. 1. 1. Major Secondary Sources
         2. Key Data From Secondary Sources

15. 1. 2. Primary Data

1. 1. 1. 1. Key Data From Primary Sources
         2. Breakdown Of Primaries

15. 1. 3. Secondary And Primary Research

1. 1. 1. 1. Key Industry Insights

15. 2. Market Size Estimation

15. 2. 1. Bottom-Up Approach
       2. Top-Down Approach
       3. Market Projection

15. 3. Research Assumptions

15. 3. 1. Assumptions

15. 4. Limitations
    5. Risk Assessment

16. APPENDIX

16. 1. Discussion Guide
    2. Customization Options
    3. Related Reports

17. DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/wealth-management-platform-market/toc

Market News

• In July 2022, Avaloq, a preeminent supplier of digital banking solutions, and Deutsche Apotheker- und rztebank (apoBank), a German cooperative bank for pharmacists and doctors, deepened their long-standing partnership.
• In June 2022, Geneva-based Crédit Agricole (CA) next bank, a subsidiary of Crédit Agricole Group, successfully switched to Avaloq's core banking system to improve back- and middle-office efficiency. A brand-new e-banking system that provides a cutting-edge customer experience has been released as part of the project.

News Media

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