Apr 25, 2018
From UBS Wealth Management, Ketan Samani joins us and shares his thoughts on digitalization, "There are two things, I think when I look at digitalization and the ecosystem that is developing, from a consumers prospective, they're looking that do organization I work with, or I need the services care for me? Do they have ethos of investing in relationship with me? The wealth management business like UBS is all around relationship. You can have very large client with few billion dollars and they act like corporation. They have lawyers, they have accountants, and they want that personalized touch. To the point at which somebody who just wants to give us one or two million dollars to invest and they also looking for personal touch. So the spectrum of sophistication of our clients are many. So in that, one of our biggest challenges. How do I build a team of people that helps to build a value chain? Not silos. To focus on client experience from both digital and non-digital. So when there is non-digital, it's all around cultural transformation of staff. In pushing the boundaries with systemically in order to derive at focus on client needs. Digitally, it's much more data driven. Round we look at behavior, data analytics, to see how we can correlate between offline and online client experience consistency. As a private bank, clients are paying us a lot of money to get that client experience. And UBS, being the world's previous premier bank, has to demonstrate that. And if you look at our marketing events and our client education events, we stretch our goals. Not only to serve the client who's paying us fees, but their children, the next generation, who may inherit this big responsibility to preserve the wealth of the family. To pass it on to the next generation. And we look to educate them on how they should do that."