News Jun 01, 2015 08:49 AM EDT

Technology Takes Advantage In Private Banking: The Future In Managing Personal Finance; Downturn of Swiss Banks Salvaged?

By Staff Writer

Private Banking must keep up with technology. Swiss Private Bankers have seen this and is coming up with new banking trends especially with present clients are definitely passing on the business to the next generation in the family.

Swiss private banks are resorting to video games and virtual reality to draw fresh yet hard-to-convince young investors.

Investment Banking Company like UBS has a brilliant team doing the research led by Dave Bruno, head of UBS's innovation lab. However, at this present time, the great challenge is not with the designing of these technologies.

It is a known fact that Swiss economy is swirling in deflation early this year not to mention the uproar about the Swiss banks tax evasion issues. This acknowledged fact truly is the major obstructions in convincing investors.

In addition, international news about Switzerland becoming an expensive tourist destination has threatened vacationers to visit the country.

Nevertheless, these pressing issues should not stop bankers from doing business as usual. They need to innovate their services and system. For example, one of Bruno and his team innovation is a video game that will make the clients visualize their complex investment portfolios.

Having that investment packaging perhaps will appease investors and will help Swiss economy pick up.

Along with the recent design of the technology concerning Private banking, Schmoozers will not find it hard to convince clients.

On marketing pitch that might get the attention of these investors, they can work remotely with their financial managers. They can be updated remotely of what's going on with his money invested.

Today, Reuters says that Swiss industry show recovery. The manufacturing sector is picking up in May in spite of a strong Swiss franc. Bank can also incorporate real business news to the new technology so shareholder will learn info firsthand.

This modern technology that will be launched soon is said to be necessary to reinvent the image of the banks. Then eventually, help the Swiss economy pick up.

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