Let’s take a quick look at what’s in store for private banking in 2023. For the past few years, new sectors have been developing: cryptocurrencies, cybersecurity, energy… So what are the next trends for 2023 ?

Here are some key points regarding the developments in private banking:

• New investment themes: 2022 has been a difficult year for investors due to numerous declines and in particular that of the euro. Investors have become more cautious lately, due to three major factors that have driven up interest rates: soaring energy prices, rising global inflation rates, and social and economic conflicts regarding natural gas sanctions. Uncertainty and investor distrust are more than relevant today. There is a need to invest in an area that will bring good opportunities in 2023. These include investments in: food security, cyber security, reuse and recycling, and energy infrastructure.

• Several disruptions to be expected: in addition to the reasons mentioned earlier, the transfer of wealth from one generation to the next is one of the main causes of disruption. This transfer between generations is causing changes in habits, particularly with regard to asset management. Private banks will therefore have to rise to the occasion, as expectations are likely to become higher.

• The developing world of digital banking: in order to maintain a good relationship with its customers and to exploit it, digital banking is important. Digital banking has many advantages: it facilitates exchanges, offers a greater storage capacity, simplifies transactions, and information is transmitted in real time. Being able to reach your bank everywhere is an advantage that must be offered to the customer, in addition to the richness of human exchanges. Some banks have already decided to create their own digital version.

In short, it is important to be informed about the new trends that 2023 will bring. One should not hesitate to invest in sectors under stress in order to take advantage of them and use the disruptions to one’s advantage. With new clients slowly entering the market, private banks will need to be adaptable.