FinTech Global, a specialist research firm, has released its WealthTech Market Map, which will serve as an informative guide for financial institutions, wealth and asset management and private banks looking to navigate the burgeoning sector.
This release comes just months after the launch of its ESG FinTech Market Map.
The WealthTech Market Map has been released at a time where the need for digitalization and innovation are critical. Customers now demand excellent experiences, whether that is a simple onboarding process, easy-to-use app, or personalised product offerings. Firms that fail to offer these services risk losing customers to their competitors.
Wealth and asset managers, investment firms and other financial services organisations will be able to use the Market Map to discover the technology companies that could aid with their digitalisation efforts. Each company in the map has their own profile with various information to give users an idea of who the company is, what part of the WealthTech support and their regions of operation.
Users can filter the map by sectors and subsectors, including Portfolio Management & Reporting, Financial Services Software, Investing Tools, Client Prospecting & Engagement, Risk and Compliance, Digital Brokerage, Robo Advisors, Client Acquisition, Financial Planning and many more.
On top of the ability to search through the list of companies, the Market Map has an interactive map that groups companies by the sectors they serve. Navigation tools provide users dynamic search abilities so they can explore the market and find the companies that are the most relevant for their needs.
The Market Map currently boasts a database of 327 WealthTech companies, but more are always being added to the list to ensure it is up to date with all the leading solutions.
If a WealthTech company is not in the database, they can submit their information to be added as a profile.
The WealthTech sector continues to grow at a quick pace. In fact, a recent report from 360 Research Reports claimed that the market size will rise at a 22.69% CAGR, going from $8.1bn in 2021 to $27.8bn by 2027.
The current economic climate has forced companies to identify where their limited resources can make the most impact. This has forced companies to identify where they can make savings, but also improve their digitalisation so they don’t lose customers.
FinTech Global director Richard Sachar said, “As companies try to balance evolving customer demands and the difficult financial market, firms will need to be confident they pick the best WealthTech provider to maximise their resources.
“Our new Market Map ensures that financial professionals can quickly and easily navigate the crowded WealthTech market by highlighting the leading tech companies. As the WealthTech market continues to bloom, this map gives decision teams the ability to compare providers, saving them time and ensuring they find the best providers for their needs.”
The WealthTech Market Map comes shortly after FinTech Global released its ESG FinTech Market Map.
The map, which can be viewed here, covers companies serving financial services with solutions for climate risk, ESG assessment & reporting, ESG Intelligence & Data Analytics, supply chain screening, banking products and regulatory change management.
Those wanting to get a more prominent exposure among potential clients and partners visiting the Map can reach out to firstname.lastname@example.org.
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