79% of Finance Firms Launch Digital Wealth Products Before…
By Rick Steves
AI summary of the source article
A survey of 332 financial decision-makers conducted by Savanta for Saxo found that 79% of firms launch digital wealth and brokerage offerings before all supporting capabilities are ready, while only 28% report having advanced, fully digital value chains. Legacy technology, with core stacks averaging 6.7 years old, remains the primary hurdle to rapid market delivery. To resolve these challenges, 65% of institutions currently operate hybrid architectures, retaining control of customer-facing interfaces, branding, and regulatory compliance while outsourcing back-end infrastructure like execution and custody. Although 88% believe strategic technology partnerships are essential, only 11% currently view their platform providers as strategic partners.
Why it matters
Financial institutions face mounting pressure to modernize their wealth stacks without ceding customer ownership, driving demand for specialized infrastructure partners to manage complex execution, custody, and compliance layers.
Key facts
- 79% of financial decision-makers say firms launch digital wealth offerings before every supporting capability is ready.
- The average core wealth and brokerage technology stack is 6.7 years old.
- While 88% of respondents say banks will need strategic partners rather than simple vendors, only 11% currently classify their platform provider as a strategic partner.