View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Analysis
November 12, 2021updated 23 Mar 2022 12:28pm

Revealed: The wealth management & private banking companies leading the way in artificial intelligence

By Data Journalism Team

DBS and HSBC are among the companies best positioned to take advantage of future artificial intelligence disruption in the wealth management & private banking industry, our analysis shows.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The assessment comes from GlobalData’s Thematic Research ecosystem, which ranks companies on a scale of one to five based on their likelihood to tackle challenges like artificial intelligence and emerge as long-term winners of the wealth management & private banking sector.

According to our analysis, DBS, HSBC, UBS, OCBC, Morgan Stanley , ABN AMRO , ICBC and China Merchants Bank are the companies best positioned to benefit from investments in artificial intelligence, all of them recording scores of five out of five in GlobalData’s Wealth Management Thematic Scorecard.

DBS, for example, has advertised for 363 new artificial intelligence jobs from October 2020 to September 2021 and mentioned artificial intelligence in company filings 86 times.

HSBC indicated good levels of AI investment, with the company looking for 744 new artificial intelligence jobs since October 2020, completing one deal and mentioning artificial intelligence in filings 48 times.

The table below shows how GlobalData analysts scored the biggest companies in the wealth management & private banking industry on their artificial intelligence performance, as well as the number of new artificial intelligence jobs, deals, patents and mentions in company reports since October 2020.

Higher numbers usually indicate that a company has spent more time and resources on improving its artificial intelligence performance, or that artificial intelligence is at least at the top of executives’ minds. However, it may not always mean that it is doing better than the competition.

A high number of mentions of artificial intelligence in quarterly company filings could indicate either that the company is reaping the rewards of previous investments, or that it needs to invest more to catch up with the rest of the industry. Similarly, a high number of deals could indicate that a company is dominating the market, or that it is using mergers and acquisitions to fill in gaps in its offering.

Nevertheless, these trends are useful in showing us the extent to which top executives in the wealth management & private banking sector – and at specific organisations – think about artificial intelligence, and the extent to which they stake their future on it.

This article is based on GlobalData research figures as of 10 November 2021. For more up-to-date figures, check the GlobalData website.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International