Singapore has become one of Asia’s main hubs for wealth management due to its open regulatory scheme and because of its large number of high-net-worth-individuals (HNWI). The number of millionaires in Singapore continues to rapidly rise, hitting nearly 105,512 in early 2014. Banks in Singapore are continuing to improve their wealth management and private banking arms by integrating critical departments, creating a comprehensive view of their customers, and finding unique and innovative ways to service their clients. Competition for HNWI in Singapore is highly competitive, as the majority of global banks have operations in Singapore.
The report focuses on major challenges, trends and opportunities that are happening in Singapore’s wealth management market, including how banks are tackling big data, integrating their systems, and how they are using mobile platforms to give their clients access to their wealth anywhere and at anytime.
Our analysts across London, New York, Singapore and Hong Kong survey the globe's top bankers to acquire detailed insights for our reports.