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Cover Story: The digital wealth tsunami

#artificialintelligence

Robo-advisers are forecast to take at least 15% market share of the Asian wealth management industry in the next seven years. Platform providers highlight the innovations that are driving the industry forward and debunk common myths about the financial technology. Robo-advisory platforms have grown exponentially in Asia in the past two years. Innovations have resulted in enhanced and more sophisticated offerings for investors. This will only propel the growth of the industry. Bhaskar Prabhakara, co-founder and CEO of Singapore-based robo-advisory platform WeInvest, expects robo-advisers to take at least 15% market share of the Asian wealth management industry by 2025. "There is a strong case for this. We went to many countries to talk to regulators and look for partners and everywhere we went, people acknowledged the fact that the robo-advisory wave -- a digital wealth tsunami -- is coming," he says.