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Push-back by Custodian Banks

Disclaimer: The views and opinions expressed in the vapa Swiss independent wealth management blog posts featured on this page are solely my own and do not necessarily represent the views of any institutions or organisations I may be associated with. These posts are intended to share personal insights and perspectives and should not be interpreted as official statements or positions of any affiliated entities.

Banks are increasingly pushing independent wealth managers to enter securities transactions into their online systems. There is nothing objectionable about this, but it is already outdated in today’s technological age.

It would be a sign of considerable thinking progress that the established banks agree on standardised bi-directional interfaces. This norm would make dealing with wealth- and investment managers easier and allow the whole industry to benefit economically from innovative fintech solutions.

That would be a 2023 resolution for the top management of the banks. Make life easy easier.

Source: LinkedIn

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Digital interface symbolizing the integration of custodian banks and wealth management with fintech innovations.

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