Private bankers and robo-advisers face off

A new fintech battlefield is opening up: private banking. Does artificial intelligence mean there will be no need for wealth managers in the future?

Private bankers and robo-advisers face off

A new frontier is opening on the fintech battlefield private banking.

Recent innovations such as robo-advisers could reduce the need for wealth managers, particularly among mass-affluent clients.

Technologically savvy competitors are already competing fiercely with some bank services, such as retail banking and lending to small companies. Fintech start-ups claim to make finance easier for the man-on-the-street, with products such as digital wallets and crowd funding.

Now these hungry...

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