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Open banking initiatives could impact PWM industry in coming 12-18 months: Accenture

Open banking and other smart banking initiatives introduced by the Hong Kong Monetary Authority (HKMA) are going to “gradually impact” the private wealth management industry, according to global management consulting firm Accenture. Fergus Gordon, managing director, Asia Pacific and Africa banking at Accenture, told Asian Private Banker that although the regulator’s smart banking initiatives appear to affect only retail banks,…

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