The Wealth Management Leaders’ Roundtable

Modernisation in PH Banks: How Technology is Shaping Wealth Management

In the Philippines, wealth managers and banks offering wealth management services are navigating a transformative landscape shaped by evolving customer expectations, technological advances, increased regulatory pressures and threats from an emerging FinTech segment. Key demographics, namely a growing middle class, higher levels of financial literacy, growing disposable income levels, and more tech-savvy millennials present both opportunities and potential threats. Wealth Management customers are demanding real-time, personalised services, driving companies to invest in technologies such as AI-powered advisory, hyper-personalised recommendations and ESG-compliant portfolios.  

Traditional Wealth Managers are further pressured by more agile new market entrants and offshore competition offering both ease of use and wide product and service offerings. To maintain a competitive edge, companies must seek to embrace digital transformation, leverage data analytics for bespoke solutions, and stay nimble to meet changing customer needs. A multi-faceted strategy is essential for shaping a resilient and forward-looking wealth management industry in the Philippines.

• What challenges do companies face in modernising wealth management services in The Philippines? What are the barriers to transformation?
• What trends and services are customers beginning to expect? How can companies navigate the challenges associated with, for example, the ongoing multi-generational wealth transfer?
• What does the future of wealth management look like? What technologies and strategies are defining the industry in The Philippines? What threats, such as regulatory over-burden, new market entrants, and offshore competition, does the sector today face?