Wealth Management Robo-Advisers to Spiral over the MENA

The forecasts of expansion of digital solutions in business and wealth management are based on the impact of the Covid-19 pandemic in terms of on the adoption of technology across the MENA region. New pandemic and post-pandemic reality, including lockdowns and severe restrictions is due to have forced the companies to find new ways of functioning.

Greater use of technology transforms businesses all around the world, thus, clearly influencing the Middle East and Northern Africa. The rise of digital only solutions is expected as the technology revolution accelerates in the region’s wealth management sector.

According to the research conducted in MENA countries (the UAE, Saudi Arabia, Bahrain, Qatar, Oman, Egypt and Kuwait) estimates that forty-five percent of respondents look forward to a slight increase in the number of robotic advice and digital solutions whereas twenty-one percent do not expect any change.

More than two out of three (68 percent) of wealth managers who took part in the in the poll claimed the pandemic speeded up the technology revolution in wealth management sector across the region.

Still, one in eight (12 percent) of those questioned strongly disagree that the pandemic affected the sector in any way.