A great number of companies are still producing almost the entire value chain. But what wealth manager is seen as particularly trustworthy due to a superior payment service settlement or securities settlement?

In other words, the future in banking will be all about segmentation?

The goal of segmentation is to strategically create the most homogenous target group in a bid to serve this group optimally. Segmentation enables different business models.

«The chance that fintechs will be able to engender enough trust to build large amounts of assets is very small»

An example?

Ultra-high net worth clients: the core of the business model is the solution of complex questions of wealth management. By contrast, affluent banking has the provision of solutions at its core and retail banking is and will remain a products business.

What about fintechs?

Fintechs usually specialize in specific aspects of the value proposition. There hardly any trustworthy examples for this in wealth management. The chance that fintechs will be able to engender enough trust to build large amounts of assets is very small, I think.

Olaf Toepfer has been a partner at EY Switzerland for three years and is responsible for the banking industry and capital markets. The German citizen previously worked at Roland Berger as senior partner and head of financial services Switzerland.