{"id":2549,"date":"2023-05-30T20:13:48","date_gmt":"2023-05-30T18:13:48","guid":{"rendered":"https:\/\/aurexia.com\/insights\/?p=2549"},"modified":"2023-06-07T10:25:42","modified_gmt":"2023-06-07T08:25:42","slug":"eu-private-banking-2023-outlook-an-acceleration-of-changes-in-the-industry","status":"publish","type":"post","link":"https:\/\/aurexia.com\/insights\/eu-private-banking-2023-outlook-an-acceleration-of-changes-in-the-industry\/","title":{"rendered":"EU Private Banking 2023 outlook: An acceleration of changes in the industry"},"content":{"rendered":"\n<p>Challenged by new players banking on 100% online services and held back by increasingly heavy regulatory requirements, private banks are stepping up their investment in digital development. This is an opportunity for them to modernise the image of private banking by improving services to clients through new offers and communication channels that are fully adapted to their needs.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Providing value-added services\n<ul class=\"wp-block-list\">\n<li>Increasingly qualitative and personalised services offered to customers thanks to data<\/li>\n\n\n\n<li>Reports and customer dashboards<\/li>\n\n\n\n<li>Targeted and personalised advice according to expectations&nbsp;<\/li>\n\n\n\n<li>Advisors freed from time-consuming administrative tasks<\/li>\n\n\n\n<li>Multi-channel offers (Internet, Extranet, tablets, mobiles)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Improve client knowledge (i.e. KYC, KYT)\n<ul class=\"wp-block-list\">\n<li>The need to establish a good asset diagnostic tool covering the household and\/or the company, digital initiatives to attract younger clients<\/li>\n\n\n\n<li>The use of targeted tools to improve customer knowledge: CRM, data sinks, aggregators<\/li>\n\n\n\n<li>Innovative fintechs serving customer knowledge with increasingly advanced systems (cognitive scale, KYC3, etc.)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Facilitating the customer journey\n<ul class=\"wp-block-list\">\n<li>Remote contact points between the customer and his advisor anywhere and at any time<\/li>\n\n\n\n<li>Access to online services via online banking or mobile applications<\/li>\n\n\n\n<li>Simplified and efficient operations through the use of new technologies<\/li>\n\n\n\n<li>New technologies such as blockchain or mobile payments as real efficiency levers<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>The European Private Banking industry is currently facing challenging times, with profitability levels flattening or even declining. Private banks must now navigate an uncertain macroeconomic outlook and evolving investors\u2019 needs and behaviours. <\/p>\n\n\n\n<p>What trends are going to impact the industry the most in 2023? If you would like to learn more, please contact us. &nbsp;<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-dark-blue-background-color has-background wp-element-button\" href=\"https:\/\/aurexia.com\/insights\/wp-content\/uploads\/2023\/06\/Aurexia-Private-Banking-2023-Outlook_May2023.pdf\" style=\"border-radius:0px\" target=\"_blank\" rel=\"noreferrer noopener\">Download the full document<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Challenged by new players banking on 100% online services and held back by increasingly heavy regulatory requirements, private banks are&#8230;<\/p>\n","protected":false},"author":1,"featured_media":2550,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[283],"tags":[336,205,179,337],"class_list":["post-2549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-and-wealth-management","tag-awm","tag-private-banking","tag-strategy","tag-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - 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