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Wealthtech Solutions Market to Grow by USD 6.08 Billion from 2024-2028, Driven by Blockchain Popularity and AI Impact on Trends- Technavio Report

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NEW YORK, Sept. 3, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global wealthtech solutions market size is estimated to grow by USD 6.08 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 14.11% during the forecast period. Growing popularity of blockchain is driving market growth, with a trend towards rising influence of digitalization. However, rising data security and privacy concerns poses a challenge. Key market players include Acorn Wealth Management Group Ltd, Addepar, Inc, aixigo AG, ARC Group Ltd, BlackRock Inc., Bravura Solutions Ltd., Broadridge Financial Solutions Inc., Creant Technologies Pvt Ltd., Empower Annuity Insurance Co. Of America, Etops, Fidelity National Information Services Inc., FNZ Group Technologies Ltd., InvestSuite, Mirador LLC, Synechron Technologies Pvt Ltd, Tata Consultancy Services Ltd., Valuefy Technologies Private Limited, Virtusa Corp., Wealthfront Corp., and WealthTechs Inc.

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Wealthtech Solutions Market Scope

Report Coverage

Details

Base year

2023

Historic period

–

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 14.11%

Market growth 2024-2028

USD 6084.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.68

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 53%

Key countries

US, UK, Germany, France, Japan, and China

Key companies profiled

Acorn Wealth Management Group Ltd, Addepar, Inc, aixigo AG, ARC Group Ltd, BlackRock Inc., Bravura Solutions Ltd., Broadridge Financial Solutions Inc., Creant Technologies Pvt Ltd., Empower Annuity Insurance Co. Of America, Etops, Fidelity National Information Services Inc., FNZ Group Technologies Ltd., InvestSuite, Mirador LLC, Synechron Technologies Pvt Ltd, Tata Consultancy Services Ltd., Valuefy Technologies Private Limited, Virtusa Corp., Wealthfront Corp., and WealthTechs Inc

Market Driver

The Wealthtech Solutions market refers to the use of technology to improve and automate wealth management services. This includes robo-advisors, digital platforms, and fintech applications. Companies in this sector offer personalized investment advice, automated portfolio management, and streamlined financial planning. Wealthtech solutions help businesses reduce costs, increase efficiency, and enhance customer experience. They also provide real-time data analysis and automated reporting, enabling better decision-making. The market is expected to grow due to increasing demand for digital services and advancements in technology. 

Wealthtech solutions are transforming the financial industry by providing innovative technologies to help companies and organizations manage financial goals more efficiently. Trends like debt collection, data analytics, and AI technology are driving the growth of WealthTech startups, receiving significant venture capital funding. These digital tools enable efficient portfolio management, tax planning, and cash flow analysis. The IT and banking sectors, along with investment and wealth management firms, are embracing cloud services and outsourcing automation for improved liquidity of assets and customer relationships. Millennials’ preference for digital tools and socially responsible investing is also fueling the market’s growth. AI, ML, and Big Data are revolutionizing decision-making processes, while user-friendly interfaces make these technologies accessible to a wider audience. Collaborations between WealthTech startups and established enterprises are further driving innovation in areas like retirement savings, estate planning, and legacy planning. Key players like Wealthfront Corporation are leveraging AI for personalized investment strategies, while cryptocurrencies, exchangetraded funds, and property management firms are exploring blockchain technology for secure transactions and transparency. Overall, the Wealthtech market is poised for continued growth, driven by the increasing digitization of management and the internet penetration in various sectors. 

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Market Challenges

The Wealthtech Solutions market refers to the use of technology to improve and automate wealth management services. Companies in this sector provide software solutions for investment management, financial planning, and portfolio analysis. These tools help financial institutions and advisors to streamline their operations, reduce costs, and enhance customer experience. Wealthtech solutions enable better data analysis, improved communication, and increased efficiency, making them essential for businesses seeking to remain competitive in the financial services industry.The WealthTech solutions market is experiencing significant growth due to the increasing adoption of digital tools, AI, ML, and Big Data by millennials and high-net-worth individuals. Internet penetration and fintech innovations have made investment and property management more accessible. Challenges include ensuring user-friendly interfaces, cloud-based technologies, security solutions, and compliance with regulations. AI and machine learning capabilities are transforming decision-making processes, offering robo-advisory services, and automating portfolio rebalancing. The competition landscape includes robo-advisory services, open-source banking systems, and digital wallets. Wealth management firms must address data breaches, cost transparency, customer service, and AI-based assistance. Predictive analytics technology, statistics, and modeling techniques are essential components for wealth management, with deployment mode and enterprise size impacting automation. Credit risk management is crucial, especially with the emergence of cryptocurrencies and blockchain technology.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This wealthtech solutions market report extensively covers market segmentation by

Deployment 1.1 On-premise1.2 Cloud-basedComponent 2.1 Solution2.2 ServicesGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 On-premise- On-premise wealthtech solutions continue to hold significance in the wealth management industry, especially for larger firms and financial institutions. These solutions provide enhanced security and compliance features, making them a preferred choice for organizations that prioritize data control. Wealth management firms with legacy IT systems often opt for on-premise deployments due to seamless integration with existing technology stacks. Customization and tailoring are also advantages, allowing firms to meet their unique requirements. Regulatory compliance around data storage and access is better addressed with on-premise solutions. Despite the rise of cloud-based wealthtech solutions, on-premise deployments remain vital for firms focused on security, compliance, and legacy system integration, contributing to the ongoing growth of the global on-premise wealthtech market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

WealthTech solutions are digital tools that leverage Artificial Intelligence (AI) and Machine Learning (ML) to provide advanced financial services. These solutions utilize Big Data, Internet penetration, and cloud-based technologies to cater to the needs of tech-savvy millennials. WealthTech encompasses investment management, property management, and cryptocurrencies, among other financial services. AI-based assistance streamlines decision-making processes with user-friendly interfaces, while predictive analytics technology offers component-level insights for deployment in various enterprise sizes. Automation, cost transparency, and customer service are key components of WealthTech, with compliance and regulation ensuring secure deployment. Predictive analytics, statistics, and modeling techniques enable accurate forecasting and asset liquidity management. Overall, WealthTech solutions revolutionize traditional finance by offering efficient, transparent, and accessible financial services.

Market Research Overview

The Wealthtech Solutions market is revolutionizing the financial industry by integrating digital tools, Artificial Intelligence (AI), Machine Learning (ML), and Big Data to cater to the needs of millennials and high-net-worth individuals. Internet penetration and fintech innovations have paved the way for cryptocurrencies, blockchain, and digital wallets, enabling seamless investment and property management. Wealthtech solutions offer user-friendly interfaces, cloud-based technologies, open-source banking systems, and security solutions to address data breaches. These solutions automate processes, from outsourcing and robo-advisory services to portfolio rebalancing, predictive analytics technology, and component deployment. Wealthtech startups receive venture capital funding, driving competition in the landscape. WealthTech solutions cater to enterprises of all sizes, focusing on efficient portfolio management, asset liquidity, cost transparency, customer service, and AI-based assistance. Predictive analytics, statistics, and modeling techniques are used for credit risk, debt collection, data analytics, and tax planning. Collaborations between Wealthtech companies and organizations are shaping the future of financial goals, retirement savings, cash flows, legacy planning, and estate planning in the IT and banking sectors. Additionally, socially responsible investing, exchange-traded funds, and automation of processes are becoming essential components of Wealthtech solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premiseCloud-basedComponentSolutionServicesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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China’s Long March: The Journey Goes On

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MACAO, Oct. 21, 2026 /PRNewswire/ — This is a report from Xinhua News Agency:

There is a chapter of history every Chinese child learns in school.

There is a poem that generations of Chinese people have learned by heart.

There is a song millions can sing from its very first notes.

In stories, in verses, in melodies, they all point to the same chapter of history: the Long March.

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SOURCE Xinhua News Agency

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Target Makes it Easier for Guests to Discover Stylish Holiday Gifts They Can’t Wait to Give

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Target is offering more than 8,000 new gifts, with more than half exclusive to the retailerMost new holiday items at Target are $20 or less, including thousands $5 and underNew AI-powered shopping experiences, daily deals and early Black Friday savings simplify gifting

MINNEAPOLIS, Oct 21, 2026 /PRNewswire/ — Target Corporation (NYSE: TGT) is putting gifting at the heart of the holidays, bringing guests more than 8,000 new stylish gifts they can’t wait to give. More than half of the new assortment is available only at Target, with thousands of gifts priced at $5 and under. New AI-powered shopping experiences, fresh ways to discover gifts and deals throughout the season will make it easier for guests to find something special for everyone on the list.

“This holiday season, guests will see and feel the changes we’ve been making across Target, bringing together the style, design and value they expect from us with an experience that makes shopping easier and more inspiring,” said Michael Fiddelke, chief executive officer, Target. “We know guests turn to Target for gifting, gathering and everything in between, and our team is ready to help busy families discover more joy in those moments throughout the season.”

Stylish gifts at an incredible value
As consumers continue to look for affordable ways to give gifts that feel special, Target is leaning into one of the season’s biggest trends: luxe-for-less gifting. This year’s assortment includes 100% cashmere (excluding functional trim) starting at $25, pajamas for all from $10, festive decor from $5, faux fur throws at $30, top toys from LEGO, Barbie and Nintendo, new and exclusive gifts from prestige, emerging and global beauty brands at Target Beauty Studio, nostalgic sweet treats and host gifts from Favorite Day and exclusive finds for sports and wellness fans, making it easy for guests to find gifts that feel elevated at every price point.

“Guests tell us they want to give gifts that are thoughtful and personal, while feeling good about what they’re spending,” said Cara Sylvester, executive vice president and chief merchandising officer, Target. “That’s why we’ve brought together the brands they love, exciting trends and unexpected finds they won’t see anywhere else — all at prices that make it easier to get that ‘I can’t wait to give this’ gift.”

More ways to discover the perfect gift
New this season, Ask Target, an AI-powered shopping assistant available in beta on Target.com and the Target app, helps guests find inspiration, narrow their choices and shop with confidence and ease. Additional AI-powered features and a digital holiday kids catalog offer more ways to discover gifts for everyone on the list.

Target’s new Academy of Giftology holiday marketing campaign, launching in November, will tackle familiar gifting dilemmas with playful inspiration to help guests gift it their all and find gifts they’ll be excited to give.

More ways to save, from the first gift to the last
Beginning Nov. 1, guests can shop a new Deal of the Day every day through Dec. 24, with a first-ever one-day preview of upcoming offers to help them plan ahead. Early Black Friday deals run Nov. 5–7, followed by new limited-time offers every weekend throughout the holiday season.

The joy of gift giving
Through Target’s partnership with St. Jude Children’s Research Hospital, guests can give a gift that helps give back with the Gigglescape St. Jude bear, with a donation tied to each purchase while supplies last.

About Target
Target Corporation (NYSE: TGT) brings together style, design and value to offer a distinct assortment and elevated shopping experience across more than 2,000 U.S. stores and online. Powered by more than 400,000 team members, Target serves millions of families each week and invests in the communities where they live and work to support growth and opportunity for all.

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SOURCE Target Corporation

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illumend CEO: Building a COI Tracker with AI Is Easy. Verifying Insurance Compliance Is Not.

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Kristen Nunery warns that homegrown Certificate of Insurance tracking tools can create a false sense of security when businesses mistake collecting insurance documents for verifying coverage and compliance

INDIANAPOLIS, Oct. 21, 2026 /PRNewswire/ — As general-purpose artificial intelligence (AI) makes it easier for businesses to build their own software, Kristen Nunery, founder and CEO of illumend, is warning construction and property management companies against a costly misconception: that building a Certificate of Insurance (COI) tracking system is the same as verifying that contractors and other third parties have the insurance coverage their contracts require.

In her new article, “You Can Build a COI Tracker with AI. That Doesn’t Mean You Should,” Nunery explains that general-purpose AI tools such as ChatGPT can help businesses create applications that collect certificates, track expiration dates, and automate reminders. But those capabilities address only part of the insurance compliance process. Determining whether coverage satisfies contractual requirements involves interpreting insurance documents, reviewing endorsements, identifying exclusions and resolving discrepancies that basic tracking software may overlook.

“AI has democratized the ability to build software. It hasn’t democratized the expertise to make the right insurance decision,” said Nunery, who has spent 16 years in insurance compliance. “If you don’t have a compliance process today, you’re not automating a process. You’re automating your best guess.”

Why a COI Tracker Is Not an Insurance Compliance Verification System

According to Nunery, the critical distinction is between tracking the existence and expiration of insurance documents and verifying whether the underlying coverage meets contractual obligations.

A homegrown COI tracker may confirm that a certificate is current, record policy limits, and flag missing documents. But a current certificate does not necessarily mean a contractor is adequately insured or compliant with an agreement’s terms.

For example, a subcontractor may submit a certificate showing sufficient general liability limits and additional insured status. Yet the underlying endorsement may be a CG 20 10 covering ongoing operations only, while the contract also requires completed-operations coverage under a CG 20 37 or equivalent endorsement. A basic tracker could mark the subcontractor as compliant despite the missing coverage.

“The tracker didn’t misread anything,” Nunery said. “It never had the contract requirement, the endorsement language, or the connection between the two.”

Other potential gaps include incorrectly named insured entities, missing endorsements, inadequate completed-operations coverage, and policy provisions that fail to satisfy contractual insurance requirements. Identifying these issues requires evaluating insurance evidence in context, not simply extracting data from a certificate.

Why Insurance Compliance Verification Requires Specialized Technology

Nunery argues that businesses seeking to move beyond basic COI tracking need technology designed specifically for insurance compliance verification, with insurance expertise embedded in how the system evaluates coverage.

Unlike homegrown tracking tools, specialized compliance platforms such as illumend compare insurance documents against established contractual requirements, examine supporting endorsements, identify coverage gaps, and explain findings that require attention.

This approach powers Lumie, illumend’s specialized AI-powered insurance compliance expert. Lumie reviews certificates and endorsements against established requirements, flags potential deficiencies and provides supporting evidence for its determinations, while allowing compliance professionals to review and resolve exceptions.

“AI should do more than flag a problem. It should show you what it found, which requirement it evaluated, and the evidence behind its assessment,” Nunery said. “Lumie applies insurance expertise at scale and creates a clear record of its findings, so teams can act on routine determinations efficiently and focus their attention on exceptions that need a closer look.”

Nunery’s perspective draws on her experience building myCOI, whose technology has reviewed more than 45 million insurance documents and identified more than 2 million coverage gaps before they became claims, according to company figures.

Build a COI Tracker or Buy a Compliance Platform? The Questions Businesses Should Ask

For organizations considering building their own COI software, Nunery recommends first determining whether they need a document-tracking application or a comprehensive insurance compliance verification system.

Basic tracking needs may be addressed with spreadsheets, conventional software, or applications built with general-purpose AI. But verifying compliance requires substantially more: translating contractual insurance requirements into rules, reviewing endorsements and policy evidence, identifying exceptions, documenting decisions, and maintaining an auditable compliance process.

Businesses must also consider who will keep insurance requirements current, validate the system’s determinations, investigate discrepancies, and maintain the records needed to support compliance decisions during claims or audits.

“Building the software happens once,” Nunery said. “Running a compliance system means keeping requirements, evidence, follow-ups, decisions and the audit trail current, every day it’s in use.”

To read Nunery’s full article, visit https://www.illumend.ai/evaluation-buying/build-vs-buy-coi-tracking-software-ai

About illumend
Founded in 2025, illumend™ is the AI-powered platform redefining how businesses manage third-party insurance compliance and risk. Backed by myCOI, the leader in third-party insurance compliance management with more than 16 years of expertise, illumend reimagines compliance by guiding every step of the process—from document review and expiration tracking to risk flagging, communication, and resolution—within one intuitive system. Built on myCOI’s institutional foundation—having processed more than 45 million documents, managed over 1.2 million agreements, cleared more than 750,000 third-party partners, and identified more than two million coverage gaps before claims—illumend brings this depth of compliance intelligence into an AI-native platform. At its core is Lumie, illumend’s conversational AI guide that reads complex insurance documents, flags issues in real time, and explains them in language anyone can act on. To learn more, visit https://www.illumend.ai.

Media contact:
Michael Tebo
Gabriel Marketing Group (for illumend)
Phone: 571-835-8775
Email: michaelt@gabrielmarketing.com

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SOURCE illumend

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