Episode notes
Private banks and wealth managers have been paying a fragmentation tax for over a decade. Relationship managers toggle across five systems just to prepare for a single client meeting. Annual reviews feel like initial intakes. Investment proposals go out as 60-page PDFs and die in inboxes.
While humans found ways to cope with this and bridge the gaps among fragmented systems, AI can't deliver reliable results under these same circumstances.
In this episode of Banking Reinvented, Tim Rutten is joined by Jules Bordat, Principal Wealth Expert and Go-to-Market Lead at Backbase, to explore what happens to private banking and wealth management when AI enters an operation that was never designed to support it.
Jules argues that the fragmentation problem most boardrooms thought they'd addressed five years ago looks completely different with AI in the picture - and the gap between institutions that act now and those that wait is about to widen fast.
The conversation gets into what’s required to close the gap, including:
- Building a credible 2-3 year North Star while finding wins in 3-4 months when making a transformation
- Why bringing the client experience and rethinking the lifecycle is the next differentiator in wealth
- How AI-native signals encourages RMs and advisors to move client information from their notebooks to a unified intelligence layer
The real opportunity, Jules argues, isn't cutting admin time, but restoring the human element of the relationship itself.
Jules also shares his prediction on the role hyperscalers like Anthropic will play in wealth management - and why it looks less like disruption and more like infrastructure.