Abstract

Innovation strategy has become a critical determinant of competitiveness in the private banking sector, particularly in attracting and retaining High Net Worth Individuals (HNWIs). This study examines how innovation strategies encompassing digital transformation, personalized wealth management, and value co creation affect the growth of the HNWI client segment. Using a qualitative descriptive approach supported by case analyses of leading private banks, the research highlights the role of technology driven services, data analytics, and relationship based advisory in enhancing customer experience and financial performance. The findings reveal that innovation in service delivery, client engagement, and product customization significantly contributes to HNWI growth by improving client loyalty, expanding market reach, and optimizing portfolio performance. Moreover, strategic alignment between innovation and client centricity fosters sustainable competitive advantage in an increasingly dynamic financial landscape. This paper underscores the importance of continuous innovation as an integral part of strategic management in private banking to drive long term growth in the HNWI segment).