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fintech firmsCNBC
•Business
Business & Economics
88% Informative
New generation of tech-savvy wealthy investors is expected to drive demand for digital solutions.
McKinsey estimates high and ultra-high-net-worth individuals in Asia-Pacific own $21.7 trillion in assets.
Moomoo, owned by Nasdaq -listed Futu Holdings , and Arta , whose backers include former Google CEO Eric Schmidt and ex-UBS CEO Ralph Hamers , are among the fintech firms targeting wealthy investors.
Fintech firms face many challenges but their emergence will force the private banking industry to adapt and innovate.
Competition will ultimately benefit high-net-worth investors, who now have more choices and access to more sophisticated and cost-effective solutions for managing their wealth.
While some private banks lag in technological capabilities, others have invested heavily in AI and digitalization.
VR Score
93
Informative language
95
Neutral language
62
Article tone
formal
Language
English
Language complexity
62
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
medium-lived
External references
2
Source diversity
2
Affiliate links
no affiliate links
