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JP Nicols - Clientific - Seattle | 12/02/2013 | 2272 views

Five Shifts that Define the Future of Wealth Management

Five massive foundational shifts are impacting financial service providers of all types, and they are impacting those that serve affluent clients in especially unique ways. According to a study by KPMG conducted in June 2012, 9 out of 10 banks are considering a serious overhaul of their strategy, and 40% say that wealth management and asset manag... Tags: Mobile & online, Retail bankingGroup: Innovation in Financial Services

JP Nicols - Clientific - Seattle | 05/02/2013 | 788 views

Technology in Wealth Management: Opportunity or Threat?

Wealth management is an attractive business line for banks. Affluent clients hold higher balances, have lower credit default rates and utilize more fee-based services than the average branch consumer. No wonder forty percent of bank leaders surveyed by KPMG in June 2012 said that wealth management would be a critical component of their growth plans... Tags: Mobile & online, Retail banking

JP Nicols - Clientific - Seattle | 04/02/2013 | 1449 views

Banks are Laggards in Research and Development

Banks don't even show up on Booz & Co.'s Global Innovation 1000 spending report. They are lumped in to the "other" category of all industries except the top nine. All of the other industries combined only account for 2% of the $603 billion spent on research and development in 2011. Average R&D intensity, that is R&D spending as a percen... Tags: Mobile & online, PaymentsGroup: Innovation in Financial Services

JP Nicols - Clientific - Seattle | 01/02/2013 | 2371 views | 3 comments

Banks Face the Innovator's Dilemma

Sometimes the simplest lessons are the hardest ones to learn. Anyone who has taken even the most basic business course in the past fifty years is undoubtedly familiar with Theodore Levitt's 1960 treatise “Marketing Myopia”: "The railroads did not stop growing because the need for passenger and freight transportation declined. That gr... Tags: Mobile & online, Retail banking