Private banks turn to fintech experts to lure more high net worth clients

Digital wealth management specialists are in high demand.

Singapore’s private banks are hiring more digital wealth management specialists in a bid to attract a greater number of high net worth clients.

According to Hays, banks need to catch up to their technologically savvy private banking customers who require access to up to date information and insights.

“According to the World Wealth Report by RBC and Capgemini SA, two thirds of the world’s high net worth individuals expect to manage most of their wealth digitally in the next five years and would consider switching to companies that provide those services. Banks are innovating in this area as they don’t want to run the risk of being left behind,” says Roger Olofsson, Business Director of Hays Finance Technology in Singapore.

Digital private banking specialists, customer relationship managers, data analysts and security professionals are among the roles topping the Hays Quarterly Report list of skills in demand for the first quarter. Another area of demand for finance technology professionals is in cyber security and data protection.