NextGen WealthTech: The Trends To Shape The Future Q4 2023

The report outlines the growing significance of WealthTech, where technology intersects with financial services to manage and enhance wealth. It discusses key factors driving the sector’s importance, including technological innovations, market growth, and global reach. The subsequent section details the technology perspective of building a successful WealthTech platform, covering regulatory compliance, technology stack selection, security measures, and user experience considerations. Additionally, it highlights features crucial for a NextGen WealthTech system, such as robust security, compliance, AI/ML integration, and continuous improvement. Vendor profiles of ten WealthTech companies, including Velexa, Additiv, Avaloq, and Temenos, are provided. The content concludes by emphasizing SMART strategies for WealthTech’s future, emphasizing security, market assessment, automation synergy, resourceful partnerships, and technological integration. The WealthTech industry is poised for substantial growth, with a forecasted CAGR of 25.23% and a projected market value of USD 37 billion by 2028. To succeed, WealthTech firms are advised to embrace technology, prioritize data analytics, and focus on client-centric services.