Heads in the sand on fintech
PwC’s annual CEO survey shows asset and wealth managers (AWM) do not appear to be taking the technological threat seriously.
The accountancy and consultancy giant’s 20th annual survey, for which 185 AWMs bosses from 45 countries were interviewed, showed that while firms are confident about their growth prospects, they remain uneasy about the challenges and opportunities that forces of change will bring.
A key challenge is structuring businesses for the technological age.
‘Technology is a disruptive force and I am amazed by how low the sector’s survey responses are around digital and cyber security,’ said PwC global asset & wealth management leader Barry Benjamin
‘This industry is not thinking as agilely around technology and disruption as it should. How do customers interact with these firms and how will they want to in the future? READ MORE: http://citywire.co.uk/wealth-manager/news/wealth-and-fund-firms-risk-being-swept-away-in-technology-age/a993801