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Is Investing Dull?
How technology can be used to
promote and sustain client engagement
Simon New Group Executive - Strateg...
iress.com 2
• Perhaps not for professionals who invest for a living, however it
can be time consuming, complex and confusi...
iress.com 3
Too much paperwork
Obstacle #1
iress.com 4
Hours of research
Obstacle #2
iress.com 5
Don’t know where to start
Obstacle #3
iress.com 6
Confusing
Obstacle #4
iress.com 7
Bear market
Operating cash flow
Multi-leg options order
Batch trading
Earnings Momentum
Multi-currency Note Fa...
iress.com 8
Acceleration of technology
iress.com 9
1960’s
Barclays launched
Barclaycard, the first
British credit card
World’s first cash dispenser
was opened by...
iress.com 10
1970’s
The Royal Bank
became the first
British bank to offer
a house purchase
loan scheme to
customers
Direct...
iress.com 11
1980’s
First telephone
bank launches
First UK debit
card launched
iress.com 12
1990’s
Cashback launched, allowing
customers to withdraw money when
doing their supermarket shopping
1997 - N...
iress.com 13
2000’s
Introduction of first ‘chip’ and
‘pin’ credit and debit cards
Contactless card
transactions
Launch of ...
iress.com 14
2010 to now
Debit card expenditure on the
high street exceeded cash
spending for the first time
Contactless b...
iress.com 15
2010 to now
11m banking app
log-ins a day during
2015 - 2014
2% fall in Internet
banking logins during
2015 -...
iress.com 16
• The pace of innovation continues to astound and accelerate.
• What technology is available today for invest...
iress.com 17
It’s more than just having an App…
iress.com 18
Basic expectations: Boring but critical...
Application process
Automating typically time-consuming,
basic but...
iress.com 19
Basic expectations: Boring but critical...
Financial planning
Tools that are increasingly getting
investors t...
iress.com 20
Basic expectations: Boring but critical...
Reports
Simplifying reporting and moving
away from mounds of paper
iress.com 21
Embracing the virtual world
• Atom Bank launched in April 2016
• UK’s first bank built exclusively for mobile...
iress.com 22
Making planning come alive!
• Goals-based planning is
steadily gaining momentum
• In US it accounts for 50%+ ...
iress.com 23
Engage the client
• Investments can be seen as
boring and vanilla
• Other industries have been far
more imagi...
iress.com 24
Use information to help the client navigate
• Use of data is a perennial topic
• Using a literal example, tec...
iress.com 25
So what does good look like?
Fully
integrated
Digitally
enabled
Visual
planning
Predictive
Habit
forming
Enga...
iress.com 26
Integrated approach to powering your client proposition
Digital
Offering
Parity
iress.com 27
Clear graphics & clear messages
are key drivers for communication
iress.com 28
Give your clients news and insights
• Changing approach to research and
providing information and insights
• ...
iress.com 29
Make it easier to see the important things
Tilney Bestinvest – Online Client Experience – Research and Functi...
iress.com 30
Help clients invest anywhere
iress.com 31
Video and call enabling
• One of the biggest shifts in
activities enabled through
digital developments is vis...
iress.com 32
Digital advice delivery
• Interaction and engagement can be
tailored to reflect different
preferences, styles...
iress.com 33
Same solution, different skin
• In an increasingly fast moving
market, expectations for the
longevity of web ...
iress.com 34
Make it habit forming
• Understandably, most firms focus
on the size of assets and AuM –
small doesn’t always...
iress.com 35
Make it interactive and interesting
• Similarly being imaginative in the way
clients are engaged in the inves...
iress.com 36
• Investing can be daunting and dull
• Technology is evolving fast and provides some
interesting options for ...
iress.com 37
So what does good look like?
Fully
integrated
Digitally
enabled
Visual
planning
Predictive
Habit
forming
Enga...
iress.com
Thank you
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Is Investing Dull? How technology can be used to promote and sustain client engagement

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Presented at the WMA Annual Summit 2016, Simon New explored the current world of investing and suggested ways in which the industry can take inspiration from others to enhance the client investment process through better engagement

Published in: Economy & Finance
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Is Investing Dull? How technology can be used to promote and sustain client engagement

  1. 1. Is Investing Dull? How technology can be used to promote and sustain client engagement Simon New Group Executive - Strategy November 9th 2016
  2. 2. iress.com 2 • Perhaps not for professionals who invest for a living, however it can be time consuming, complex and confusing for the client. • Technology can’t answer everything - people will continue to play a significant role. • However it is clear technology can play a huge part in enhancing client engagement. Let’s look at how… Is investing dull?
  3. 3. iress.com 3 Too much paperwork Obstacle #1
  4. 4. iress.com 4 Hours of research Obstacle #2
  5. 5. iress.com 5 Don’t know where to start Obstacle #3
  6. 6. iress.com 6 Confusing Obstacle #4
  7. 7. iress.com 7 Bear market Operating cash flow Multi-leg options order Batch trading Earnings Momentum Multi-currency Note Facility BBSY Accelerated Depreciation Macro-Hedge Balloon Options Barometer Stock Bill & Hold Intrinsic value Extrinsic value
  8. 8. iress.com 8 Acceleration of technology
  9. 9. iress.com 9 1960’s Barclays launched Barclaycard, the first British credit card World’s first cash dispenser was opened by Barclays in Enfield. Customers needed to purchase special vouchers to use in the machines
  10. 10. iress.com 10 1970’s The Royal Bank became the first British bank to offer a house purchase loan scheme to customers Direct Debits were introduced
  11. 11. iress.com 11 1980’s First telephone bank launches First UK debit card launched
  12. 12. iress.com 12 1990’s Cashback launched, allowing customers to withdraw money when doing their supermarket shopping 1997 - Nationwide launches first Internet banking service 1990 was the year for ‘peak’ cheque usage. With 11 million cheques written in the UK per day
  13. 13. iress.com 13 2000’s Introduction of first ‘chip’ and ‘pin’ credit and debit cards Contactless card transactions Launch of ‘faster payments’ - which enabled internet and phone banking payments to be made almost instantaneously
  14. 14. iress.com 14 2010 to now Debit card expenditure on the high street exceeded cash spending for the first time Contactless bank payment accepted on the underground App only Atom Bank launches Launch of mobile banking, with the first apps allowing customers to check balances Barclays launced ‘Pingit’, an app that allows customers to make instantaneous payments using mobile phone details
  15. 15. iress.com 15 2010 to now 11m banking app log-ins a day during 2015 - 2014 2% fall in Internet banking logins during 2015 - as people migrate to the apps 32% fall in branch visits between 2016 and 2011 347m payments made via banking apps in 2015, a rise of 54% since 2014 £1bn – investment by LBG for digital banking technology between 2015 and 2017 3 million people now registered for Barclays mobile phone banking service Pingit (as of Sept 2015)
  16. 16. iress.com 16 • The pace of innovation continues to astound and accelerate. • What technology is available today for investors and what does good look like? • What innovations might we see tomorrow that will further enhance client engagement? The technology of today and tomorrow
  17. 17. iress.com 17 It’s more than just having an App…
  18. 18. iress.com 18 Basic expectations: Boring but critical... Application process Automating typically time-consuming, basic but critical processes
  19. 19. iress.com 19 Basic expectations: Boring but critical... Financial planning Tools that are increasingly getting investors to think in terms of their goals
  20. 20. iress.com 20 Basic expectations: Boring but critical... Reports Simplifying reporting and moving away from mounds of paper
  21. 21. iress.com 21 Embracing the virtual world • Atom Bank launched in April 2016 • UK’s first bank built exclusively for mobile • Easy to use and quick to open • Biometric logins, AI customer service • Transforming the banking landscape • Technology core to their existence
  22. 22. iress.com 22 Making planning come alive! • Goals-based planning is steadily gaining momentum • In US it accounts for 50%+ of planning and is expected to rise over next 3 years to 65% • Technology plays an important beyond plan initial creation, by also stimulating clients during the investment process
  23. 23. iress.com 23 Engage the client • Investments can be seen as boring and vanilla • Other industries have been far more imaginative in engaging clients in what could be seen as a dull process • Technology can help with mass customisation and personalisation – in products and services
  24. 24. iress.com 24 Use information to help the client navigate • Use of data is a perennial topic • Using a literal example, technology can help navigation • Using data intelligently can also enable us to provide personalised options • It offers us real time analytics and helps us to generate ideas
  25. 25. iress.com 25 So what does good look like? Fully integrated Digitally enabled Visual planning Predictive Habit forming Engaging
  26. 26. iress.com 26 Integrated approach to powering your client proposition Digital Offering Parity
  27. 27. iress.com 27 Clear graphics & clear messages are key drivers for communication
  28. 28. iress.com 28 Give your clients news and insights • Changing approach to research and providing information and insights • Increasingly important to provide interactive support for clients • Way of driving engagement and demonstrating value added
  29. 29. iress.com 29 Make it easier to see the important things Tilney Bestinvest – Online Client Experience – Research and Functional Discovery - (c) Ernst & Young LLP – Proprietary & Confidential • Visual representation is important, but it’s not just ‘show me’ • It’s also about alerting me as a client to things I should be aware of • MiFID II will force certain changes such as changes in portfolio value • Technology can help manage the process
  30. 30. iress.com 30 Help clients invest anywhere
  31. 31. iress.com 31 Video and call enabling • One of the biggest shifts in activities enabled through digital developments is visual collaboration • This technology lends itself very well to advisory services • A good compromise between human interaction and digital service
  32. 32. iress.com 32 Digital advice delivery • Interaction and engagement can be tailored to reflect different preferences, styles and understanding • Technology allows the delivery of consistent investment processes but delivered in very different ways • We’re already doing this with clients in Australia.
  33. 33. iress.com 33 Same solution, different skin • In an increasingly fast moving market, expectations for the longevity of web design is also reducing • The need to keep reinventing and refreshing is increasing • An online UI is easier and cheaper to refresh than traditional desktop systems.
  34. 34. iress.com 34 Make it habit forming • Understandably, most firms focus on the size of assets and AuM – small doesn’t always get attention • Whilst micro investing may not be the key to large discretionary portfolios, some of the lessons we can learn are important • Engagement, fun and habit forming
  35. 35. iress.com 35 Make it interactive and interesting • Similarly being imaginative in the way clients are engaged in the investment process can help break down some of the barriers to investment • In this particular example, Fidelity create a ‘stock city’ – to help clients understand their portfolio • Whilst it is in a formative stage, its an interesting example.
  36. 36. iress.com 36 • Investing can be daunting and dull • Technology is evolving fast and provides some interesting options for making it significantly less so • Whilst we don’t see technology completely replacing human interaction, we do think that it can help makes investing more interesting, engaging and ultimately rewarding for clients Conclusions
  37. 37. iress.com 37 So what does good look like? Fully integrated Digitally enabled Visual planning Predictive Habit forming Engaging
  38. 38. iress.com Thank you

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