台灣數位投資銀行市場分析與策略方案

Abstract

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There has long been talk of the digitalisation of the banking world, especially in the area of payment transactions. In wealth management, however, many processes are still carried out manually at high prices and relatively non-transparent for the customer. Some Robo-Advisor providers have already established themselves in the USA and Europe. With this new type of wealth management, asset allocation is determined by an algorithm only seconds after a customer's questionnaire on his risk behaviour has been evaluated. In Taiwan, no assets are yet managed by Robo-Advisor. This is due to the conservative laws that currently do not allow this type of wealth management. This work examines the question of whether existing providers need to rethink their strategy and adapt it if necessary, or whether the digitalization of wealth management is just a little hype and can be ignored. To answer the question, the product must be analysed from two sides. On the one hand, it is about which providers are on the market, with which products and which interests. On the other hand, there are customers who need advice on wealth management. Here, research is carried out into where the client's interests lie and what obstacles exist. The product Robo-Advisor is defined and the market volume and potential is visualized by means of literature research. Existing models are examined and differences are clarified. Interviews provide further important inputs for the development of the business model.

The research clearly shows a considerable market potential for Robo-Advice. This is not the result of a growing overall market, but rather at the disadvantage of traditional wealth management. Existing and potential clients are becoming more and more digitally affine and see fewer and fewer reasons for expensive and non-transparent wealth management. Banks in Taiwan currently have little interest in switching from high-margin wealth management to much less profitable digital products (Russel, K. &Co., 2018). There is a high probability that large providers will soon be able to enter the market with transparent and cheap services. As a result, Taiwanese banks will lose assets managed without a digital solution. Customers will be less tied to the existing solution because of the simple account opening procedure of the digital providers. Due to the forthcoming changes, Taiwanese banks are strongly advised to adopt a digital strategy. The implementation can take place internally or in cooperation with an existing Robo-Advisor. Which option is better depends on the respective situation. The digital investment solution can be marketed separately from the existing business. At most under its own brand name. Specifically, the following points must be implemented: -Development and implementation of a Robo Advisor concept for large and financially strong banks; - Implementation of an existing Robo Advisor concept via white labeling for small and medium-sized banks; - Simple and fast onboarding via homepage; - State-of-the-art platform via browser and smartphone app; - Differentiation through high personalization and clear and transparent offers.