On September 3, 2024, KFin Technologies introduced the mPower Wealth platform, an advanced omnichannel wealth management solution tailored for wealth managers, family offices, banks, and external asset managers.
The company stated that this innovative platform integrates front-, mid-, and back-office operations, supports multi-asset and multi-currency portfolios, and leverages cutting-edge technology to enhance client experiences.
According to the 2024 Knight Frank Report, the global wealth management sector has seen significant growth, with the ultra-high-net-worth individual (UHNWI) population increasing by 4.2% to 6,26,619 in 2023. Projections indicate a 28.1% growth over the next 5 years, with regions such as India and mainland China expected to experience growth of 50% and 47%, respectively.
This surge in wealth, coupled with a shift towards multi-asset and multi-currency investments and a generational transfer of wealth emphasising purpose-driven investments, highlights the need for comprehensive platforms that offer a holistic view of client assets, ensure regulatory compliance and scale with business growth. mPower Wealth aims to meet these demands with a robust, scalable, and technologically advanced solution.
Key Features of mPower Wealth Include
mPower Wealth’s intuitive interface is designed for both experienced wealth managers and newcomers, while its sophisticated security measures ensure data protection and privacy.
Commenting on the launch, the MD and CEO of KFin Technologies Limited, Sreekanth Nadella, said, “India’s technology sector is making significant contributions to global finance, and with mPower Wealth, we’re contributing to this transformation. Our platform reflects our vision of agile, intelligent, and client-centric wealth management. By combining technological innovation with financial expertise, we are supporting wealth managers as they navigate an increasingly complex landscape. Through mPower Wealth, we are participating in the fintech evolution, with India playing a key role.”
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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