Wednesday 14 October 2020
additiv, a global SaaS provider to the wealth management industry, has opened a new office in Dubai as it seeks to expand its footprint in the Middle East.
The Zurich-based firm believes it can help regional banks and asset managers capitalize on the significant changes happening in wealth management. In particular, customer demand for seamless end-to-end digital wealth management is ballooning on account of demographic, behavioral and technology changes. These changes include the rise of middle-income households, wealth transfer from baby boomers to millennials, higher mobile penetration, a shift in online activities from execution-only to advisory services – not to mention
the effects of the COVID-19 pandemic, which has universally speeded up digital adoption.
The company's Hybrid Wealth Management solution allows banks and asset managers to take advantage of these changes. Underpinned by the DFS orchestration platform, the solution offers content rich, seamless customer experience across all digital channels, whether self-service or advisor-led.
It believes there is a structural change happening in the UAE wealth management market that provides a once-in-a-generation opportunity to local financial services companies. The market is rapidly moving to digital distribution at the same time as a growing number of people with savings seek
to invest those savings in diversified portfolios. For the institutions that act quickly to meet this untapped demand, this is a massive opportunity, additiv said.