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ARTICLE · 17 FEBRUARY 2023

Why Wealth Managers Should Beware Of The Metaverse

As retail banks across Europe look to assess the positive impact of rising interest rates on their balance sheet Wealth Managers continue to enjoy healthy market growth and the ability...

United KingdomWealth Management
Matthew East
Matthew East

As retail banks across Europe look to assess the positive impact of rising interest rates on their balance sheet Wealth Managers continue to enjoy healthy market growth and the ability to use technology to innovate, and not just to reduce operating costs. However, we are seeing a growing trend of innovation that runs counter to the fundamental customer experience that differentiate the world's leading firms.

The Metaverse is becoming a prime example of an industry investing in its own disruption. While still in an immature phase there are high hopes that once the motion sickness problems are solved, the graphics updated for this decade and the interminable software issues settled it could hope to replace many instances of in person human interaction. Until the technology is mature this sets a dangerous precedent as it erodes one of the key differentiators for the industry – your people and the personal relationships they build.

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