On paper, mass affluent consumers (those with $100,000 to $1 million in liquid assets) are a prize for banks. But targeting difficulties and product limitations have prevented them from serving the market. Now new technologies are opening this opportunity.

Key Question: What do bank strategists and marketers need to know to attract, convert, and retain mass affluent customers?

Key Stat: The 613 million individuals worldwide who fall into the mass affluent category hold $177.2 trillion in assets, or more than a third of global wealth, per 2023 UBS estimates. They’ve historically been underbanked, giving early-moving financial institutions (FIs) an advantage.