Technology replaces schmoozing: the future of private banking


BANKING MADE SIMPLE: Bruno and his team are designing videogames, including a prototype puzzle for iPads and smartphones, and looking at virtual reality simulations to help people visualise what are often complex investment portfolios.

ZURICH: No longer is schmoozing over long lunches and fine wines enough; Swiss private bankers are turning to videogames and virtual reality to attract a new generation of sceptical clients and see off digital rivals. 

Technology is likely to appeal to multi-tasking millionaires with little time to spare. However, wealth managers must also win the trust of younger investors who have experienced two downturns during their formative years plus a furore over Swiss banks' involvement in tax evasion. 

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