By FINTECH Books Contributors, Mariusz C. Bodek and Jan-Enno Einfeld Follow: @mariuszbodek Banks and other established Wealth Management players are facing a more competitive environment. With new players entering the market and increasing regulatory requirements and costs, the pressure to reinvent and further develop existing services is rising constantly. New technological solutions provide a unique opportunity to win new customer groups like self-directed retail clients with digital and cost-efficient services (i.e. robo advisors). In the last couple of years there have been few market intruders under the label of Fintech. Companies that are focusing on changing the market structure within wealth management are now becoming numerous and the market segment has got its own terminology: WealthTECH. What is the definition of the “label” WealthTECH and what kind of different topics can be seen in the market and into how willbanks face these challenges and constantly work on innovating and further developing their service portfolios. As one of the first major banks in Germany we launched its first digital wealth management offering in 2009 and is currently the undisputed market leader among Germany’s robo advisors. But in order to stay ahead of upcoming trends and market developments, the bank founded a corporate innovation accelerator in September 2015. Among other departments the accelerator has been closely working with the bank’s Investing department ever since. The aspiration is to identify internal and external innovation impulses that can be utilized to bolster the bank’s strategic roadmap and wealth management product portfolio pipeline. If you would like to learn more about FinTech please look at our video courses at FINTECHCircleInstitute.com