KFin Technologies has launched mPower Wealth, a new wealth management platform. The company states that the platform is designed for wealth managers, family offices, banks, and external asset managers, offering integration across front, mid, and back-office operations.
Market Context
The launch comes as the wealth management industry continues to grow. The 2024 Knight Frank Report indicates that the ultra-high-net-worth individual (UHNWI) population increased by 4.2% to 626,619 in 2023. The report projects a 28.1% rise over the next five years, with India and mainland China expected to see growth of 50% and 47%, respectively.
Sreekanth Nadella, MD and CEO of KFin Technologies Limited, said, “Our platform reflects our vision of agile, intelligent, and client-centric wealth management.”
Features of mPower Wealth
According to KFin Technologies, the mPower Wealth platform includes:
- Integration across front, mid, and back-office operations
- Multi-asset and multi-currency capabilities
- Analytics using AI and machine learning models
- Personalization features
- Regulatory compliance features
- Scalability options
- 360-degree client view
- Configurability options
Industry Trends
The wealth management industry is experiencing shifts towards multi-asset and multi-currency investments, as well as an increasing focus on purpose-driven investments due to generational wealth transfer.
