Another year, another PBI Global Wealth Awards.
2021 was one of the strongest years on record for this event in terms of submissions. At first, I was surprised, considering that many of the banks that submitted has done so after a year or more of Covid-related disruptions.
However, the sector, a behemoth of initiative, cannot be derailed. In terms of technology, digital, products, services, engagement, institutions went above and beyond to serve their clients’ needs.
The 2021 edition of the PBI Global Wealth Awards received entries from around the world representing four continents highlighting the best-in-class wealth management and private banking companies. The awards were judged across five category groups and recognised those organisations and individuals who showcased innovation, speed and efficacy of delivery and most importantly an exemplary commitment to customer needs and over-all contribution to the individual and larger community.
Among the key takeaways from the awards submissions in 2021 has been the resilience of the regional banking industry and their ability to develop innovative solutions and deliver new offerings in record times to help combat the financial implications on their customers in response to the COVID-19 pandemic.
What happens next? With the global worries of the pandemic coming to a close later this year (hopefully), the private banking sector should be allowed to build.
Furthermore, it should allow wealthtech firms to finally make a play in the sector. Worried about the wealth manager during a pandemic? Well, our wealth app never gets ill and never turns off.
These firms are ready to make a success of themselves, but will huge private banks just allow that to happen? Consolidation in the market is sure to be widespread if these challengers gain any significant foothold.
It is an exciting time for the sector and I cannot wait to see what banks bring to the awards next year.
Private Banker International
Download 2021 Special Report: Meet the executives and institutions pioneering innovation in the private banking sector; inspired by the winning entries of the 2021 Annual Private Banker International Global Wealth Awards.