The wealthtech solution market is expected to grow from US$ 54.62 million in 2021 to US$ 137.44 million by 2028; it is estimated to grow at a CAGR of 14.1% during 2021–2028.

Organizations use financial analytics tools to gain insights into key present and future trends for improving their business performance. Financial analytics services include financial data quality analysis and data layout, client analytics, predictive analytics, principal component analysis, and financial data collection. These analytics require thorough financial and other relevant data to identify patterns; based on these predictions, enterprises may make predictions regarding what their customers would buy, how long their employees' tenures might be, and so on. Thus, financial analytics services help organizations improve the profitability, cash flow, and business value. They may use the insights gained through these analytics to improve their revenues and business processes. Accenture PLC provides the newest data and analytics solutions for financial service providers, along with assisting them in deploying the same. Its services for these firms include cost analytics and enterprise performance analytics. With a prime focus in income statements, balance sheets, and cash flow statements, financial analysis is employed to evaluate economic trends, set financial policies, formulate long-term business plans, and pinpoint projects or companies for investments. Financial service providers, including investment banks, generate and store more data than any other businesses, as finance is a transaction-heavy industry. The banks used data to estimate risks for improving the overall profitability in the subsequent years. Therefore, with multiple benefits in banks and investment firms, the demand for financial analytics services increasing significantly, thus boosting the wealthtech solutions market growth.

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WealthTech Solution Market: Strategic Insights

WealthTech Solution Market

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  CAGR (2021 - 2028)

  14.1%
• Market Size 2021
  US$ 54.62 Million
• Market Size 2028
  US$ 137.44 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• FinMason, Inc.
• aixigo AG
• InvestCloud, Inc.
• WealthTechs Inc.
• Valuefy Solutions Private Limited
• 3rd-eyes analytics AG
• BlackRock, Inc.
• Synechron
• Wealthfront Inc.

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Component

• Solution and Services

End User

• Banks
• Wealth Management Firms
• Others

Organization Size

• Large Enterprises and Small and Medium-Sized Enterprises

Deployment Mode

• Cloud-Based and On-Premises

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Impact of COVID-19 Pandemic on WealthTech Solution Market

According to latest situation report from the World Health Organization (WHO), the US, India, Spain, Austria, France, Germany, the UK, Switzerland, Turkey, Brazil, Iran, and China are among the worst affected countries due to the COVID-19 outbreak. The outbreak crisis is affecting the industries worldwide and the global economy witnessed worst hit in 2020 and it is continued in 2021 also. The outbreak has created significant disruptions in primary industries, such as food & beverage, medical, energy & power, electronics & semiconductor, petroleum, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the global Wealthtech solution market as they are the major supply and demand sources for wealthtech solution products and solutions.

WealthTech Solution Market Insights

Growing Use of Artificial Intelligence in Different Verticals

Artificial intelligence (AI) is helping the financial industry to streamline and optimize different processes, ranging from credit decisions to quantitative trading and financial risk management. The AI solutions facilitate more accurate assessment of traditionally underserved borrowers, such as millennials, in the credit decision-making process, thereby helping banks and credit lenders in making smarter underwriting decisions. Further, the use of AI helps smoothen and automate the financing process in several banks, investment firms, and wealth management firms. aixigo AG uses AI-based wealthtech solutions for providing digital transformation, private banking, retail banking, robo advisor, and asset management services. The robo advisor software of aixigo AG uses AI as a replacement of human component at the point-of-sale during the financial investment process. Similarly, Synechron Inc. provides an AI-based solution named Neo for the financial services industry. Neo uniquely brings together Synechron’s digital, business, and technology consulting to guide financial institutions through the deployment of AI solutions to solve complex business challenges. Therefore, the growing popularity of AI-based assistance in banks, investment firms, and wealth management firms is driving the WealthTech solutions market growth.

Component-Based Market Insights

Based on component, the wealthtech solution market is bifurcated into solution and services. In 2020, the solution segment led the market, accounting for a larger market share.

End User-Based Market Insights

Based on end user, the wealthtech solution market is segmented into banks, wealth management firms, and others. In 2020, the wealth management firms segment accounted for the largest market share.

Organization Size-Based Market Insights

Based on organization size, the wealthtech solution market is bifurcated into large enterprises and small and medium-sized enterprises. In 2020, the large enterprises segment accounted for a larger market share.

Deployment Mode-Based Market Insights

By deployment mode, the wealthtech solution market is bifurcated into cloud-based

and on-premises. In 2020, the cloud-based segment accounted for a larger market share.

The players operating in the wealthtech solution market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

• In March 2021, FinMason was selected by Informa Financial Intelligence’s Zephyr business, an analytics and visualization leader in the advisor space, to deliver ESG data from OWL Analytics via the FinRiver API to their Zephyr platform. This will combine FinMason’s API delivery system and OWL’s ESG Ratings for streamlined and accelerated deployment of holistic sustainable investing data across Portfolio Analytics & Performance.
• In April 2021, BNP Paribas Wealth Management—Private Banking and aixigo jointly developed a solution that combines investment advisory and discretionary portfolio management. The new portfolio management system is a scalable advisory solution for all wealth management and affluent clients, which is expected to provide a strategic advantage to the company.

WealthTech Solution Market Report Scope

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The global Wealthtech solution market has been segmented as mentioned below:

By Component

• Solution
• Services

By End User

• Banks
• Wealth Management Firms
• Others

By Organization Size

• Large Enterprises
• Small and Medium-Sized Enterprises

By Deployment Mode

• Cloud-Based
• On-Premises

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

Company Profiles

• FinMason, Inc.
• aixigo AG
• InvestCloud, Inc.
• WealthTechs Inc.
• Valuefy Solutions Private Limited
• 3rd-eyes analytics AG
• BlackRock, Inc.
• Synechron
• Wealthfront Inc.
• InvestSuite