Key players invest in new technologies
The Indian Wealth Management Market is expected to grow at a CAGR of around 11% during the forecast period to 2025, according to a report at the ResearchAndMarkets.
This growth is due to the growing adoption of innovative tools by the individuals to manage their finances, said the report “India Wealth Management Market” made available on 22 June 2020.
Moreover, rising high net worth individuals (HNWIs) population is further aiding the growth of the market.
Additionally, increasing Internet penetration coupled with a growing number of social media users, the demand for wealth management has intensified in India.
The other factors like very large and young mass affluent segments, increase in the wealth of global Indians and rising share of the organized market players such as independent wealth advisors and small brokers/agents as financial advisors are further fuelling growth in the market.
However, due to stringent regulatory issues along with the resistance to accept the technology might act as a major impediment to market growth in the forthcoming years.
The industry’s key players are investing more to develop new technologies in order to develop energy-efficient transportation and increase their customer bases worldwide.
The market players in the Indian Wealth Management Market are FIS Global Business Solutions India Pvt Ltd, Fiserv India Pvt Ltd, Broadridge Financial Solution India Pvt Ltd, Temenos India Pvt Ltd, SEI Technology Services India Private Limited, Finacrest Wealth, Finantix, Karvy Corporate and BNP Paribas Asset Management India Private Limited. fiinews.com
