Saxo Study: 79% of Banks Launch Digital Wealth Tools Without Full Capabilities Amid AI Pressure

Banks are pivoting toward hybrid outsourcing models to bridge the gap between their digital ambitions and the reality of aging legacy infrastructure. A new study from Saxo reveals that while most institutions prioritize digital transformation, the majority are launching wealth management products without the necessary internal capabilities, creating a critical opening for strategic fintech partnerships.

What was announced

Saxo’s "Future of Digital Wealth" report surveyed 332 senior decision-makers across the banking, brokerage, and fintech sectors in Europe, the Middle East and North Africa (MENA), and Asia-Pacific (APAC). The findings highlight a significant disconnect between strategic intent and execution. While 75% of respondents believe banks are well-equipped for digital wealth delivery, 79% admitted that institutions frequently launch new offerings without the full suite of capabilities required to support them.

Legacy technology remains the primary bottleneck for modernization. The average core wealth and brokerage technology stack is 6.7 years old, a figure that climbs to 7.5 years for firms attempting to manage these systems entirely in-house. Consequently, 50% of respondents now favor a hybrid operating model, combining internal expertise with a single outsourced provider to achieve long-term scalability and innovation.

The competitive landscape is also shifting under the pressure of artificial intelligence. AI-driven robo-advisories and automated investment services were cited as the top competitive threat by 48% of participants. This outranked the entry of Big Tech firms into financial services (43%) and the rise of low-cost neo-brokers (36%). Currently, only 28% of institutions describe their wealth and brokerage capabilities as "advanced," with 43% classifying themselves as "fairly advanced" due to limited personalization and only partially digitized value chains. The study suggests that while digital transformation is a priority, the complexity of system integration remains a hurdle.

"Banks are operating in an environment where both the opportunity and the pressure have never been greater. Growth in global wealth is creating significant business opportunity but advances in AI keep raising the bar. The challenge for many institutions is no longer recognising the need to modernise but modernising quickly enough to stay competitive. As a result, more are turning to strategic partners who can help them continually innovate, scale their offerings, and adapt to evolving client needs."

Henrik Alsøe, Global Head of Institutional Business at Saxo.

The companies involved

Saxo Bank is a prominent Danish investment bank specializing in online trading and investment. Founded in 1992, the firm has evolved from a brokerage into a major fintech provider, offering "Banking-as-a-Service" to other financial institutions. The company operates globally, providing access to multi-asset trading through its proprietary platforms. In Italy, the firm operates through BG SAXO, a joint venture established to combine local market expertise with Saxo’s global trading infrastructure.

The ownership structure of Saxo Bank recently underwent a significant change. In early 2026, the J. Safra Sarasin Group, a leading sustainable private bank, completed the acquisition of a majority stake in the company. This move integrated Saxo’s digital capabilities into a broader private banking ecosystem. Saxo remains a critical player in the institutional space, providing the underlying technology for hundreds of white-label partners who utilize its API-driven infrastructure to deliver wealth management and brokerage services to their own end-clients.

What FF News has reported before

FF News has closely tracked Saxo’s growth and corporate transitions. In early 2026, we reported that the J. Safra Sarasin Group Completes the Acquisition of Majority Stake in Saxo Bank, a deal that signaled a new era for the firm’s institutional strategy. This followed a period of strong financial performance, as seen in the Saxo Bank Announces H1 2025 Results With Steady Growth in Net Profits and a Record Number of Clients.

The firm’s scale was further evidenced when Saxo Reaches Key Milestone with DKK 1 Trillion in Client Assets in January 2026. These developments occurred against a backdrop of broader market recovery, as noted in our coverage of how Global Fintech Investment Surges to $103.1B in H1'26 as US Megadeals Drive Market Recovery.

What this means

The shift toward hybrid outsourcing marks the end of the "build everything in-house" era for mid-tier and even some top-tier banks. The data suggests that legacy debt is no longer just a cost center; it is a strategic liability that prevents banks from responding to the AI-driven personalization that clients now expect. As robo-advisors move from niche tools to mainstream competitors, the pressure on traditional wealth managers to provide sophisticated, automated interfaces will only intensify. The real question for the sector is whether banks can integrate these third-party platforms fast enough to retain their client base before Big Tech or agile neo-brokers erode their market share entirely.