S

W E A LT H C O N T I N U U M

Cracking the
Wealth Code:
A Guide to
Financial Wellness
and Wealth-Building
for Neo and Universal
Banks
E - BO OK
 S
Contents
3 The digital banking revolution: How banking
has been redefined

6 Unlocking financial wellness: How banks empower

the next generation
7 Managing cash flow: Budgeting and spending insights
7 Automated savings tools: Maximising savings effortlessly
8 Goal setting and financial planning: Achieving long-term goals
9 Moving beyond income mangement: Building wealth for the future

10 Unlocking wealth management opportunities for customers

12 Leveraging data to segment customers into the four archetypes
13 Three broad strategies to evolve customers into accessing
wealth-building opportunities

15 Cracking the wealth code: Strategies for neo and

universal banks

17 Building robust wealth management products in an

accelerated timeframe

19 Expanding your wealth management reach with the support

of Synpulse
20 From competitive strategy to seamless implementation
22 Our comprehensive Wealth-as-a-Service solution
24 Elevating wealth management through a flexible platform for
asset managers and clients
25 Our comprehensive digital assets offering
Cracking the Wealth Code

S
The digital banking
revolution:
How banking has been
redefined

Everyone has the potential

to build wealth, but the traditional
financial system has often made that
potential difficult to realise.
Neobanks and universal banks are both transforming the industry by
leveraging technology, data, and a deep understanding
of customer needs.

With innovative features and user-friendly journeys,

they’re unlocking the financial potential that exists within each of us.

Yash Shah
Partner

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Cracking the Wealth Code

Operating entirely online, neobanks or digital banks are free from the constraints of traditional brick-and-mortar
models. These disruptors have transformed banking by prioritising digital solutions, mobile accessibility, and an
exceptional customer experience. Their rise has pressured traditional banks to modernise, often launching their
own digital channels to remain competitive.

Neobanks typically offer the following features that streamline financial management and empower customers:

● User-friendly mobile apps and web interfaces

Intuitive designs make it easy for users to manage finances on the go.
● Streamlined account opening and onboarding
Accounts can be opened quickly with minimal documentation.

● Real-time spending insights and budgeting tools

Instant notifications and customisable budgeting tools help users track spending and manage financial goals.
● Fee transparency
Neobanks typically have lower fees and are upfront about any charges.

By offering these innovative services, neobanks have attracted a growing number of tech-savvy customers seeking
a more convenient and transparent banking experience. Their ambitions extend far beyond simply replacing
traditional banking methods; they aspire to empower customers to build wealth and achieve financial wellbeing,
and democratise access to financial services in general.

The digital-only model of neobanks presents certain challenges. The lack of physical branches can be a significant
drawback for customers who value face-to-face interactions, especially for complex financial transactions or
personalised advice. While neobanks excel in customer service through digital channels like chatbots, in-app
messaging, and phone support, some customers still prefer the reassurance of a physical branch.

Despite these challenges, neobanks continue to gain popularity, particularly among Millennials and Gen Z, who
favour a digital-first lifestyle. For example, Singapore’s Trust Bank attracted 500,000 customers—over 10% of the
local adult population—within 200 days of its launch, making it one of the world’s fastest-growing digital banks.[1]
On the other side of the world, Brazil's Nubank reported that 56.8% of its first-time credit card users were aged 18-
30.[2]

The neobank market is expected to continue growing substantially, driven by increasing smartphone usage, rising
demand for digital financial services, and the popularity of fintech solutions among younger generations.[3]

1. Our progress and ambition – becoming Singapore’s fourth largest retail bank (Trust Bank Singapore, 2023).
2. Nubank included 5.7 million Brazilians in the credit market in one year (Nubank Brazil, 2023).
3. Neobanking Market Size, Share & Industry Analysis, By Account Type (Personal and Business), By Service (Savings/Checking Accounts, Payments &
Money Transfers, Mobile Banking, Loans/Insurance Investments, and Others), and Regional Forecast, 2024 – 2032 (Fortune Business Insights, 2024).
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Cracking the Wealth Code

Wealth management: The next frontier for neobanks

While neobanks have transformed everyday banking, their potential in wealth management remains largely
untapped. The mass affluent segment—individuals with investable assets but not classified as high net worth—
offers a prime opportunity for neobanks to expand their offerings and build long-term customer loyalty. This
demographic seeks tailored financial guidance, a need often overlooked by traditional banks.

But for neobanks to effectively tap into the mass affluent segment, building a robust wealth offering is key.
The massive amount of data to which they have access also means neobanks can provide personalised financial
advice. By analysing customer data, they can offer tailored recommendations on budgeting, saving strategies,
and investment opportunities. For example, based on available data on a customer’s preferences, a diversified
portfolio that aligns with their risk tolerance and financial goals can be recommended.

Cracking the wealth code: Fostering a disciplined approach

“Cracking the wealth code” is all about fostering a disciplined approach to financial management. Rather than
chasing quick wins or unrealistic promises, focus on long-term growth and sustainable wealth creation.

This ebook is designed to serve as a comprehensive guide for successful neobanks looking to capitalise on the
burgeoning mass affluent market. By understanding the unique needs and aspirations of this demographic,
neobanks and traditional retail banks alike can develop innovative wealth management solutions that resonate
deeply with their customers. Cracking the wealth code isn’t just a path to profitability for banks; it’s a transformative
opportunity to empower millions of individuals to unlock their financial potential and build a brighter future.

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Cracking the Wealth Code

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Unlocking financial
wellness: How banks
empower the next
generation
Many neobanks cater primarily to the digitally savvy younger generations, particularly Gen Z and younger
Millennials, who prioritise convenience, speed, and seamless digital experiences. Neobanks excel in providing
these. With fast and easy onboarding—often completed in minutes with minimal documentation—neobanks
immediately engage customers, encouraging them to open basic savings accounts that serve as an entry point into
the digital banking ecosystem and the start of their financial journey.

Neobanks typically start by offering current account savings accounts (CASA), allowing users to deposit money
and manage their everyday expenses. CASA accounts are usually paired with a debit card for easy spending. By
focussing on daily financial needs, neobanks ensure frequent platform engagement, while helping users build
financial well-being.

Financial wellbeing is more than just managing expenses—it’s about gaining control over finances, preparing
for the future, and enjoying financial freedom in the present. It allows individuals to absorb financial shocks and
progress towards life goals, while still paying bills on time and having the financial freedom to pursue passion
rather than being driven solely by necessity.

A prime example of how neobanks do this is South Africa’s Discovery Bank with its Vitality Money platform, which
allows its clients to measure their financial health by monitoring five key controllable financial behaviours such as
having enough savings, managing short-term debt, and planning for retirement. These behaviours account for 80%
of the reasons why people struggle to meet their financial obligations, both now and in the future. By focusing on
improving these behaviours, customers can build long-term financial independence and resilience, rather than just
measuring their income.[4]

By providing a suite of advanced features to manage their finances more effectively, neobanks give their users
greater control over their money through personalised insights and promote better financial habits.

4. What healthy finances can do for your mental health (Discovery, 2020).

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Cracking the Wealth Code

Managing cash flow: Budgeting and spending insights

Neobanks are equipped with advanced tools that help users monitor and manage their cash flow effectively.
They integrate with financial tools and apps, offering a consolidated view of the users’ financial health. Through
these integrations, users can categorise expenses, set spending limits, and receive alerts when they approach their
budget thresholds.

This level of transparency helps users understand where their money goes and identify areas for potential savings.
Many neobanks also utilise AI-driven insights to offer personalised financial advice that fosters better spending
habits. By helping users make informed decisions, neobanks play a vital role in promoting financial discipline and
stability.

Chase offers a financial dashboard and personalised analytics that help users track spending and financial
goals, providing detailed insights into spending patterns.

N26 Insights provides a snapshot of upcoming monthly payments, such as gym memberships and
streaming service subscriptions and their due dates, all in one place, helping users manage, and cancel, any
subscriptions.

Capital One's Eno AI assistant allows its users to manage recurring charges by alerting them when charges
increase significantly or when free trials end.

Monzo offers an easy-to-use budgeting tool to help users optimise their finances, allowing them to set
separate budgets for different preset and custom categories.

Automated savings tools: Maximising savings effortlessly

Neobanks also excel in automated savings and budgeting tools, enabling users to set rules for recurring transfers
to their saving accounts based on predefined criteria, such as rounding up transactions or transferring a fixed
amount periodically.

Tangerine Bank uses intelligent automation in its saving tools designed to encourage users to spend less or
save more. Users can set predefined rules to “tax their habits”, such as allocating 2% from each transaction
into a savings account or setting aside funds whenever their favourite sports team wins or loses.

N26’s Round-Ups feature rounds up card payments to the nearest euro and stashes the difference into the
customer’s savings account. The bank also allows users to set a multiplier. For instance, if they have EUR 0.25
difference, they can multiply it and save up to EUR 0.50.

Chime offers automatic savings features, such as round-up savings and a “Save When You Get Paid” option,
which automatically transfers 10% of incoming bank transfers or direct deposits over USD 500 to the
customer's savings account.

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Cracking the Wealth Code

Royal Bank of Scotland also offers round-up and double round-up features while ensuring that the roundups
never lead to an overdraft.

Newly-launched Bank Saqu has introduced the Tabungmatic feature, a special round-up feature which allows
the rounded-up fund to be deposited in a higher interest-bearing account, enabling customers to earn more
with every rupiah saved.

Goal setting and financial planning: Achieving long-term goals

Beyond managing day-to-day finances, neobanks empower users with tools for short-, mid-, and long-term
financial planning through intuitive goal-setting features. Customers can establish specific financial goals, such as
saving for a vacation, building an emergency fund, or purchasing a home. With visual progress trackers, reminders,
and personalised tips, users can break larger financial goals into manageable steps, ensuring they stay on course
to achieve their aspirations.

Tangerine Bank enables customers to create separate savings, custom-named accounts for each goal,
allowing for easy identification and tracking.

N26’s Spaces provides sub-accounts that sit alongside a customer's main CASA account. Each space can be
given a name and unique savings goal with automated transfers from their CASA account.

Revolut offers the “Pockets” feature for setting savings goals and automating contributions.

Fintech platforms like Synpulse8's PULSE8 are also designed to help banks evolve their customers on to
wealth management. With intuitive features and automated tools and functionalities, platforms like PULSE8
enable seamless transitions to smarter investing, supporting both the bank's goals and the financial growth
of its customers.

These advanced features help users make smarter financial decisions, fostering healthy financial habits and
actively contributing to their long-term financial wellbeing.

1 : Your personalised, automated path to smarter investing.

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Cracking the Wealth Code

Moving beyond income management: Building wealth for the future

While effectively managing income and daily expenses is the foundational step toward financial wellbeing, true
financial wellness extends into wealth-building. By controlling everyday finances, individuals create a base for
future financial growth. However, as individuals move up the financial hierarchy, their focus shifts from simply
managing income to strategically building wealth.

Self-actualisation
desire to become the most that one can be

Esteem
respect, self-esteem, status, recognition, strength, freedom

Love and belonging

friendship, intimacy, family, sense of connection

Safety needs
personal security, employment, resources, health, property

Physiological needs
air, water, food, shelter, sleep, clothing, reproduction

2 Maslow's hierarchy of needs

Neobanks are well-positioned to guide users on this journey from budgeting to wealth management, especially
as they begin to serve the rising mass affluent segment. To meet the needs of this demographic, neobanks must
establish a strong foundation by offering a well-rounded wealth management portfolio. This should include a
diverse mix of assets such as stocks, funds, real estate, and gold, which provide both stability and growth potential.

A diversified portfolio allows mass affluent investors to maximise gains while minimising risks. By blending active
and passive investments, individuals can enjoy the security of stable long-term assets alongside the higher return
potential of active trading. Neobanks can play a critical role by offering access to active trading options, supported
by robust market analysis and advanced strategies, helping their customers make informed investment decisions
and secure a prosperous financial future.

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Cracking the Wealth Code

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Unlocking
wealth management
opportunities for customers
Evolving customers from basic banking services to wealth-building opportunities requires a deep understanding of
the diverse customer archetypes and their readiness to move. To better illustrate this, we can categorise customers
into four key categories based on two critical dimensions: their willingness to invest and their level of financial
knowledge and engagement. This chapter explores these customer archetypes and offers strategies for converting
each into active investors.

The four customer archetypes for investing:

Level of knowledge and engagement

Informed non-investors High knowledge and willingness to invest

Uninformed non-investors Uninformed but high willingness to invest

Willingness to invest

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Cracking the Wealth Code

Informed non-investors High knowledge and willingness to invest

These customers possess a high level of financial Customers in this category have a strong
knowledge but have consciously decided not to understanding of investment products and a high
invest. Risk-averse, they prefer the predictability of willingness to invest. Often already using other
savings accounts or short-term products, focusing investment platforms, they actively seek out the best
on maintaining an emergency fund or meeting options available. Attracting this group requires highly
immediate financial needs. Converting this group competitive investment products and an exceptional
is challenging due to their deliberate decision not customer experience that can outperform existing
to invest. solutions.

To address their concerns, banks can offer Banks must demonstrate clear benefits and superior
low-risk investment products that combine service to establish trust and convert these savvy
security with modest returns. By gradually building investors into long-term clients.
their confidence, these informed non-investors
may become more open to wealth-building
opportunities.

Uninformed non-investors Uninformed but high willingness to invest

This segment has low willingness to invest and This group is categorised by high willingness to invest
limited knowledge about investment opportunities. but a lack of necessary knowledge and engagement.
These uninformed non-investors might avoid They present the greatest potential for conversion, as
investing due to a lack of understanding or fear of the they are open to investing but need guidance.
unknown. However, they hold significant potential
for conversion through education and behavioural By offering intuitive, user-friendly investment
nudges. platforms and personalised support, banks can
quickly convert these customers into active investors.
Banks can boost financial literacy by offering Providing accessible information and bridging their
webinars, tutorials, and personalised advice. knowledge gaps will help them make informed
Simplifying the investment process and introducing decisions and grow their wealth.
incremental steps towards investing can help these
customers build confidence and willingness to
engage in wealth-building activities.

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Cracking the Wealth Code

Leveraging data to segment customers into the four archetypes

Understanding where customers fall within this framework is crucial to facilitate the evolution into consuming
wealth-building services. This requires the use of advanced data analytics. Banks can leverage various data
sources to assess a customer's financial knowledge, engagement, and investment readiness.

Transaction data analysis

● Banks can analyse spending habits and categorise them into discretionary and non-discretionary expenses,
which can indicate financial literacy and discipline.
● Identifying customers who are already engaging in investment-related transactions or showing interest in
investment products can highlight their readiness to invest.
● Life events, such as marriage or home purchases, tracked through transaction data, can also provide insights
into shifting financial goals and willingness to invest.

Savings account balances

● Consistent savings behaviour, and the presence of an emergency fund or specific saving goals can signal
financial planning knowledge and a higher level of financial literacy and engagement.
● Track saving patterns that might indicate readiness to invest. Accounts with significant saving balances or idle
funds that are not earning significant interest or being invested may indicate potential willingness to explore
wealth-building products.

App usage and behavioural measures

● Frequent use of financial tools, such as budgeting tools, financial calculators, and automated savings features,
suggest higher financial engagement and knowledge.
● Analyse clickstream data to understand the paths customers take within the app. Frequent interactions with
educational resources, investment sections, or financial planning tools within the app can highlight customers
who are interested in expanding their financial knowledge.
● Monitor behavioural data, like responses to notifications about financial tips, investment opportunities, or
educational content, which can offer direct insights into investment readiness, where high interaction rates can
signal willingness to invest.
● Analyse the types of financial products customers currently hold (e.g., credit cards, loans, insurance). Those with
diverse financial products may have higher financial literacy and engagement.
● Incorporate questions about investment interest and willingness into transaction confirmations or periodic in-
app surveys.

Debt and credit management

● Track how customers manage debt through their accounts. Effective debt management is often linked to higher
financial discipline, which can correlate with readiness for more advanced financial planning.

Other data sources

● Banks can also use data from open banking systems, such as SGFinDex in Singapore, which can give a holistic
view of customer’s financial data.

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Cracking the Wealth Code

Three broad strategies to evolve customers into accessing wealth-building

opportunities

Based on the four customer archetypes, banks can adopt three broad strategies to guide customers from
basic banking to wealth management:

I. Offer wealth products within the app

Banks can expand their offerings to include wealth-building tools and services such as investment accounts,
robo-advisory services, mutual funds, stocks, and bonds within their existing platforms to allow customers to start
investing with just a few clicks.

Personalised investment portfolios tailored to individual risk profiles and financial goals can increase customer
confidence in their investment decisions. Bundling these wealth products with existing services provides a
comprehensive financial solution that encourages users to grow their wealth over time.

II. Seamlessly integrate with current set of user journeys

To facilitate a smooth evolution from basic CASA to wealth-building services, banks should integrate these offerings
directly into their existing customer experience. Simplified, intuitive interfaces and streamlined processes can guide
users from everyday banking to more advanced financial planning.

For instance, banks can embed wealth management tools into their main banking app, enabling customers to track
the progress of their investment accounts alongside their daily finances. Data analytics can identify customers
ready to invest based on their savings patterns, and offering smaller, entry-level investments can encourage even
risk-averse customers to start investing. Tailored investment opportunities with clear explanations presented
directly within the app can make wealth-building feel like a natural progression.

III. Financial education and behavioural nudges

Providing financial education and leveraging behavioural nudges can empower customers to make informed
investment decisions. Educational content, such as in-app tutorials and investment tips, along with personalised
insights based on user behaviour, can bridge knowledge gaps.

Behavioural nudges, such as automated reminders to review or adjust investment portfolios, can help customers
stay engaged and make timely decisions. By combining education with proactive nudges, banks can empower
customers to make better financial choices and enhance their overall investment experience.

One example of a successful behavioural nudge is Acorns Round-Ups investments, a feature that extends
beyond simple savings. Unlike traditional round-up programmes that focus solely on saving, Acorns Round-Ups®
investments allow users to automatically round up their purchases and invest the spare change. According to
Acorns, the average customer invests over USD 150 in the first four months using this feature, all from spare change.
To date, Acorns customers have invested USD 3 million in spare change, seamlessly integrated into their daily lives.[5]

5. Round-Ups® by Acorns (Acorns).

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Cracking the Wealth Code

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Cracking the Wealth Code

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Cracking the wealth
code: Strategies for
neo and universal banks
In today’s market, five key models for wealth management products have proven highly effective in catering to the
mass affluent segment. Each of these models leverages technology and personalisation to deliver cost-effective,
accessible, and efficient wealth management solutions to the mass affluent demographic.

Below we explore the value proposition of each of the models, along with a glimpse into the revenue potential
these models hold. We also discuss how these models can help neo and retail banks target the different customer
archetypes identified above.

BUSINESS MODEL
Fund-based Crypto-based
Robo-advisors Fund supermarkets Trading-led platforms
savings platforms trading platforms

What is it? Platforms that utilise Platforms that automate Platforms offering a wide Platforms enabling self- Platforms enabling
algorithms and technology regular investments into a selection of funds from directed trading of stocks, self-directed trading of
to provide automated, curated selection of funds, various asset managers, ETFs, and other assets, cryptocurrencies.
personalised investment often focusing on specific allowing investors to often with commission-free
advice and portfolio goals like retirement or choose and customise or low-cost trades.
management. education. their portfolios.

Customer ● Accessibility to diverse ● Pre-built managed ● Access to lower cost ● Control over ● Control over
value portfolios. portfolios containing institutional mutual investment choices. investment choices.
proposition ETFs and unit trusts. fund share classes.
● Ability to manage risk ● Potential for higher ● Potential for higher
based on appetite. ● One-off investments or ● Pre-built managed returns (but also returns (but also
regular savings plans. mutual fund portfolios higher risk). higher risk).
● Ideal for beginner or customisations via
investors or those digital platform. ● Exposure to the
seeking hands-off growing crypto
investing. market.

Monetisation Tiered management fees. Portfolio-based Portfolio-based Commissions on trades, Exchange fees and stock
management fees, and management fees. spreads, interest, stock trading commission.
retros from unit trusts. loan income, rebates from
market makers and trading
venues, and so on.

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Cracking the Wealth Code

BUSINESS MODEL
Fund-based Crypto-based
Robo-advisors Fund supermarkets Trading-led platforms
savings platforms trading platforms

Crypto-based
Segmentation Target individuals who Target beginner This model offers less Target individuals with Target individuals with
trading platforms
might have less knowledge investors, who are less assistance than a higher knowledge of stock higher knowledge
of investment products, low informed, and prefer robo-advisor and would markets and investment of crypto products,
engagement, or those who automated investing with appeal to those who desire products, experienced experienced investors and
do have knowledge but seek personalised risk profiles. more control over investors and active traders active traders seeking a
a simplified approach to their portfolios and are seeking a comprehensive comprehensive platform
long-term wealth-building, comfortable researching platform for self-directed for self-directed trading.
especially for retirement or different funds. trading.
major life events.

Key Stashaway DBS DigiPortfolio Endowus Robinhood Revolut

examples
● Stashaway has no ● DigiPortfolio keeps ● Endowus offers ● Robinhood offers a ● Revolut offers in-app
minimum or maximum minimum investment insights and a weekly learning platform and education tools like
limit on investment amount to as low as newsletter to enable courses. Crypto Learn where
amount encouraging even USD 100, appealing its clients to stay customers can learn
beginners to try their luck. to even risk-averse on top of market ● To enable customers about investing.
investors. movements. to be on top of market
● It has built an academy news that might lead to ● It also provides a
offering a wide range of ● Its smartly curated ● For the more fluctuations in the stock comprehensive
personal finance and goal-based selection inquisitive investors, market, Robinhood dashboard with
investing courses to of funds the bank’s risk Endowus even explains offers the ‘Snacks’ advanced analytics
empower their customers averse customers to its proprietary fund newsletter, recently showing technical
to make smarter use it as an extended selection framework. launched into a new indicators, TradingView
financial decisions savings account. media outlet called charts, and a view
with confidence. Sherwood News, and on top traded, top
‘Snacks Daily’ podcast. gainers, and top
market cap coins.

By adopting the right model and integrating it into their unique value propositions, banks have the potential to
transform how people build and manage their wealth, enhancing both customer satisfaction and business growth.
Synpulse can support banks in achieving this transformation.

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Building robust wealth
management products in
an accelerated timeframe

The wealth value chain is undeniably complex,

encompassing numerous components from additional
onboarding requirements to investment management
and enhanced regulatory requirements.

However, there is a significant opportunity for banks to

streamline this process through strategic outsourcing.
By focusing solely on the core tasks that necessitate
in-house expertise and partnering with strong, reliable
third parties for the rest, banks can develop robust
wealth products in a relatively short period. This
approach not only accelerates time-to-market but also
ensures that the bank can leverage the specialised
skills and technology of their partners, optimising their
operations and enhancing their service offerings.

The diagram on the next page illustrates the entire

wealth value chain, highlighting the key areas where
outsourcing can provide substantial advantages for
neo and retail banks.

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Cracking the Wealth Code

Advisory desktop Products

CRM Client onboarding Engagement Management Equities Alternatives
Prospect and Info gathering and Financial planning Suitability and
lead management data integration KYC and review investment strategy master Householding Equities FX

Account and Goals and objectives Portfolio management Performance reporting ETFs
Account opening Investment research Derivatives
Front office

workflow management (incl. IPS) and trading

Data security
Risk assessment
Document Business analysis Funds Hedge funds
and privacy management and intelligence
Trade management Mutual funds
Enhanced Order capture and Revenue and fee Commodities
Marketing Cash flow analysis due diligence Pre-trade compliance
management management
Fixed income
Document Trade processing Surveillance and Private equity
Wealth proposal and asset allocations monitoring Client insights Bonds GIC
management

Client Client comms Operations Securities processing Finance

management and reporting Product advisory Ops console Funding and ACATs Accounting
e t admin process
Onboarding and Secure communications
maintenance and compliant management Billing processes Transaction and Tax
and controls Corporate actions trade processing
Client servicing Tax reporting processing
and review Settlements Proxy voting Regulatory transaction Billing
controls
Core ops or back office

Retirement services Cost basis processing

and controls
Reconciliations Treasure operations

Compliance Risk management Legal Technology HR

Risk assessment
AML and monitoring Legal research Robo advisory platforms Financial planning software Payroll management

Risk mitigation strategy Portfolio management Recruitment and

Regulatory reporting Internal legal support Digital transformations talent acquisition
software

Auditing Contingency planning Contract management Risk management tools Online client portals Employee relations

Code of ethics Legal compliance Data analytics and reporting Third-party integration Analytics

Documentation and Training

Data protection record keeping Strategic decisions Software integrations
and development

3 Wealth management value chain

KEY

Potential to outsource externally* Internal

*Each business practice can be considered suitable for partial or

complete outsourcing according to operational requirements.​

Leveraging partner expertise is key to ensure accelerated launch of a competitive product allowing neo and retail
banks to tap into specialised knowledge and advanced technologies that might be costly and time-consuming to
develop internally. A strong partnership can also provide ongoing support and innovation, helping the bank stay
competitive in a rapidly evolving market.

The right partner not only brings the right expertise but also a shared commitment to the bank’s success,
ultimately driving better outcomes for the bank and its customers alike.

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Expanding your wealth
management reach with
the support of Synpulse
Synpulse brings extensive expertise to support banks
in developing robust wealth management offerings.
With over 25 years of experience in collaborating with
retail and neo banks, and wealth management firms,
we possess a deep understanding of the challenges and
intricacies inherent in both sectors. This history equips
us with valuable insights into the nuanced needs and
expectations of retail and wealth management clients
alike.

Our track record includes successfully building digital

banks from inception and implementing diverse wealth
solutions globally. This experience underscores our
ability to innovate and deliver tailored solutions that
meet varied market demands. We have consistently
guided banking clients through digital transformation
and optimised wealth management strategies, ensuring
sustainable growth and client satisfaction.

Synpulse uniquely combines advanced technology

solutions with value-driven consulting services. This
dual expertise enables us to offer comprehensive
support to banks, empowering them to deliver
seamless, efficient, and personalised wealth
management services. By partnering with Synpulse,
neobanks and traditional retail banks alike can leverage
our deep industry knowledge to establish a competitive
advantage in the financial landscape.

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From competitive strategy to seamless implementation

At Synpulse, we provide a holistic approach to setting up a wealth product that combines both a competitive
advisory proposition and a seamlessly integrated advisory platform, from strategy to implementation. Here’s how
our expertise can help:

Advisory proposition

Value proposition: What benefits do clients get from your services?

We help you define a value proposition that speaks directly to your target audience, highlighting the
unique benefits they‘ll gain from your services, allowing you to stand out in the crowd.

Market position: How will you establish yourself in the market?

Through in-depth market analysis and identifying unique selling points, we‘ll position your firm effectively,
differentiating you from competitors, and attracting and retaining clients.

Service and pricing model: How do you set prices for services?
Our experts will develop a service and pricing model that aligns with your business goals and meets client
expectations while ensuring profitability.

Contractual agreement: How do you define your contracts with clients?

We guide you through the process of creating comprehensive contracts that protect your interest and set
clear expectations for clients.

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Cracking the Wealth Code

Advisory platform

Platform design: How should systems be designed and integrated to create a seamless user journey?
We design and integrate systems that offer intuitive designs and a user-friendly experience for your clients,
from onboarding to ongoing account management.

Output and reporting: What client reporting is provided to the client?

Our robust reporting mechanisms enable accurate and timely reporting to develop transparency and
trust. They provide clients with clear insights into their portfolio performance and other key metrics.

Suitability framework: How do you ensure that your services meet all suitability requirements?
We ensure your services meet all suitability requirements through a comprehensive framework that
evaluates and monitors your offerings, ensuring regulatory compliance and establishing client trust.

Communication and collaboration: How do you communicate and collaborate with advisory clients?
What is your channel strategy?
We develop a communication strategy that keeps clients informed and engaged through various
channels, allowing you to build strong relationships.

Data management and analytics: How do you manage data integrity and maximise the benefits of
analytics?
Our data management solutions ensure data accuracy, security, and integrity, and provide valuable
insights to inform business decisions and enhance client experience.

A top-notch advisory experience for clients requires both a competitive proposition and a seamless platform.
Synpulse’s solutions cover all advisory offerings, from strategy to implementation.

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Our comprehensive Plug& Wealth-as-a-Service solution

Powered by PULSE8, our Plug& Wealth-as-a-Service, or Plug& WaaS, solution runs on AWS cloud, offering a flexible
and scalable core banking solution that can be provided as a service or a white-labelled platform. This approach
empowers banks to cater to a diverse range of customer segments effectively. Key components include:

Flexible core banking solution: Stable and scalable technical infrastructure:

We deliver a highly adaptable core banking Our technical infrastructure is designed
platform that can be customised to meet to be both stable and scalable, providing
the specific needs of your neobank. This the foundation necessary for growth and
flexibility ensures that you can offer tailored innovation. This stability ensures seamless
solutions to various customer segments, operations, while scalability allows your
enhancing your competitive edge. neobank to expand services as demand
increases.

Achieving operational excellence and scalability is crucial for the successful implementation of a wealth
product. Our solutions ensure that neobanks can efficiently scale operations and cater to multiple clients,
both B2B and direct consumers.

Operational excellence: Regulatory compliance: Multi-client capability:

We focus on optimising Navigating the complex We enable your bank to
your operational processes regulatory landscape is serve both B2B and direct
to ensure efficiency and essential for maintaining customers with ease.
effectiveness. This includes compliance and building Our platform supports
streamlining workflows and trust. Our expertise ensures multi-client capabilities,
implementing best practices that your neobank adheres allowing you to expand
to maintain high service to all relevant regulations, your market reach and
standards. mitigating risks and diversify your client base.
enhancing credibility.

At Synpulse, we believe in fostering long-term partnerships that contribute to the sustained success of your
neobank. Our team has extensive experience in offering white-labelled wealth and retail solutions. This
expertise ensures that your wealth product is designed to meet the highest standards and fulfill market
needs. We help you launch minimum viable product (MVP) offerings quickly, allowing you to capture market
opportunities and respond to customer needs promptly.

22
Cracking the Wealth Code

From strategy development to business and technology solutions, we provide a complete suite of services. This
all-encompassing support ensures that all aspects of your wealth product are aligned and optimised for success.

Ecosystem

Digita tal
l Digi t
Front
Fron

Servi
c et
Delive e Targ Model
Mana ry t i n g
geme per a
nt O

ice
Softwa
re as a sa Serv
Servic ware a
e Soft

ice
Infras
tructu sa Serv
re as fo rm a
a Serv
ice Plat

4 A comprehensive Plug& Wealth-as-a-Service platform

1 Ecosystem orchestration ● Ease of integration and flexible connection to third parties

● Customer onboarding ● Customer lifecycle management

2 Digital front ● Consultant workbench ● Web and mobile banking

● Application management services ● IT operations

3 Service delivery management ● Governance and reporting-SLA/SLOs

● Business process mapping and optimisation

Target operating model
● Operating procedures

● Relationship ● Basic banking

4 Software as a Service management ● Investments ● Supporting the core business

Infrastructure management
5 Infrastructure as a Service ● Monitoring infrastructure ● Security infrastructure
● Networking nfrastructure ● Core application

Platform as a Service Application management Application support

● Implementation ● Problem
● Technical updates ● Incident
● Enhancements ● Security
● Monitoring
● Service desk

23
Cracking the Wealth Code

Elevating wealth management through a flexible platform for asset managers

and clients

We have built Wealth Cockpit, a comprehensive wealth management platform with the ability to service both asset
managers and clients, providing a robust tool for portfolio construction and client engagement.

For asset managers, the platform offers advanced capabilities for building and managing diversified portfolios,
integrating sophisticated analytics, and implementing customised investment strategies.

Simultaneously, clients benefit from an intuitive mobile and web interface, which provides real-time access to the
performance of their investment and personalised insights. The platform offers banks full flexibility to design user
journeys with customised and personalised features, enhancing the overall user experience. Leveraging AI and ML,
the platform generates personalised investment recommendations and insights for customers, ensuring tailored
advice and fostering a deeper connection between the bank and its clients.

This dual-purpose platform ensures that asset managers can efficiently optimise investment outcomes while
clients enjoy a transparent, user-friendly experience, fostering trust and engagement in the wealth management
process.

5 A snapshot of the Wealth Cockpit interface

24
Cracking the Wealth Code

Our comprehensive digital assets offering

It is our mission to empower financial services companies navigating the digital asset revolution and thriving
in a decentralised financial ecosystem. Based on our industry and execution insights, we have developed assets
and products which can support your strategy, operating model, implementation as well as comprehensive
training programmes:​

● Our digital asset and crypto roadmap assist banks in formulating their strategies and lays the foundation for
efficient and successful implementation. This roadmap ensures that financial institutions are well-prepared to
integrate digital assets into their services, driving innovation and competitive advantage.

● Our operating model, DIGITALASSETINABOX, offers a detailed process landscape that facilitates the trading,
booking, settling, monitoring, and reporting of digital assets. This model can also be used as a fast-track
impact assessment tool for digital asset propositions, helping banks evaluate the potential impact and
feasibility of their digital asset initiatives quickly and effectively.

● Additionally, our extensive training programme caters to all industries and stakeholders along the digital
asset value chain. This programme is designed to enhance decision-making capabilities and accelerate the
implementation of any crypto or related offering. By equipping your team with the necessary knowledge and
skills, our training programme ensures that your organisation can confidently navigate the complexities of the
digital asset space.

saQ
Synpulse Token Certified blockchain
and crypto asset training

crypto

ADAPTSM Digital asset

(Technical strategy and
readiness) crypto roadmap

DIGITALASSETSINABOX
(Operational readiness)

With Synpulse’s comprehensive approach, banks can confidently embrace the digital asset revolution
and establish a strong foothold in the evolving decentralised financial ecosystem.

25
Authors
and contacts
Yves Roesti
Managing Partner & CEO

[email protected]

Yash Shah
Partner

[email protected]

Rahul Bansal
Partner

[email protected]

Andreas Neidhart-Lau
Head of Retail & SME Banking, APAC

[email protected]

Alexander Kling
Managing Director
Head of Strategy & Transformation
[email protected]

David Wager
Director

[email protected]

Aastha Goel
Senior Consultant

[email protected]

synpulse.com
About Synpulse
Synpulse is a global professional services company and a valued partner of leading players in the financial services
and related industries. We optimise the proximity to our clients and deep domain expertise to create sustainable
value using technology as a business driver.

Leveraging our strong network of over 100 ecosystem partners, we accompany our clients throughout their
transformation journey – from strategy and development to implementation and management.

With our tech powerhouse, Synpulse8, we collaborate with our clients to co-create digital experiences with
innovative technologies and proprietary methods. Synpulse is powered by the passion and commitment of its
more than 1,300 employees from 21 offices who come from over 30 countries. ■

AMERICAS New York | Toronto

ASIA Bangkok | Hong Kong | Hyderabad | Jakarta | Kuala Lumpur | Manila | Pune | Shenzhen
Singapore | Taipei

EMEA Zurich (HQ) | Bratislava | Dubai | Dusseldorf | Geneva | London | Luxembourg | Paris

OCEANIA Sydney