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Digital Transformation Through Client Data: MyVest & Aite at INVEST

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How can enterprises achieve digital transformation? It’s not just launching new digital tools or kick-starting an innovation hub. It starts with data; your client data. In their session from IN|VEST 2018, MyVest CEO Anton Honikman & Aite Group’s Alois Pirker discussed how firms’ data initiatives are driving digital transformation.

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Digital Transformation Through Client Data: MyVest & Aite at INVEST

  1. 1. CREATING THE FIRM OF TOMORROW DIGITAL TRANSFORMATION THROUGH CLIENT DATA Presented at: July 10, 2018
  2. 2. Aite (pronounced “eye-tay”) Group is an independent research and advisory firm focused on business, technology, and regulatory issues and their impact on the financial services industry. MyVest builds enterprise wealth management technology for the digital age. Driven by a vision for client-centric advice, we empower firms to deliver personalized portfolios at scale. Headquartered in San Francisco, we operate as an autonomous subsidiary of TIAA. Alois Pirker Research Director, Wealth Management Anton Honikman CEO © 2018 MyVest Corporation. All Rights Reserved.
  3. 3. The financial industry will be digitally transformed before we know it. Customer data is the central life blood of that transformation. Anton Honikman © 2018 MyVest Corporation. All Rights Reserved.
  4. 4. Legacy Systems Infrastructure Client / Advisor Engagement Process and Application Logic / Data Integration Sources: Aite Group and microgen. Client-OrientedProduct-Oriented • Clearing & Custody • Accounting / IBOR • Trust • Record Keeping • Digital Self-Service • Needs Analysis • Financial Planning • Risk Analytics • Personal Finance / Wellness Management • Content / Education Back-Office Systems Back-Office Systems Clearing & Custody Accounting Systems Record- Keeping So What is the Client Data Layer? Mapping and Transformation DATA LAYER Data Conversion / Organization • CRM • Account Aggregation • Social • Digital EngagementMapping & Transformation Semantic Data Model Process Driven Business Facing Applications © 2018 MyVest Corporation. All Rights Reserved.
  5. 5. So What is the Client Data Layer? Semantic Data Model Process Driven Mapping and Transformation DATA LAYER Data Conversion / Organization • CRM • Account Aggregation • Social • Digital EngagementMapping & Transformation Semantic Data Model © 2018 MyVest Corporation. All Rights Reserved.
  6. 6. The data layer is command central, the brain of the organization — the conduit for action on the front end. Alois Pirker © 2018 MyVest Corporation. All Rights Reserved.
  7. 7. Digital Transformation with the Client Data Layer © 2018 MyVest Corporation. All Rights Reserved. Insurance Investment Accounts Banking Family | Health | Education Profession | Life Stage | Life Events Goals | Digital Engagement Comprehensive data inputs for a holistic view Non-Financial LifeFull Financial Life Held & Held Away
  8. 8. Client Data Layer Digital Transformation with the Client Data Layer © 2018 MyVest Corporation. All Rights Reserved. Family | Health | Education Profession | Life Stage | Life Events Goals | Digital Engagement Powers transformational outputs across the organization Insurance Investment Accounts Banking Held & Held Away
  9. 9. Hyper- Personalization Empower NextGen Advisors Drive Firm Intelligence Client Data Layer Digital Transformation with the Client Data Layer © 2018 MyVest Corporation. All Rights Reserved. Family | Health | Education Profession | Life Stage | Life Events Goals | Digital EngagementInsurance Investment Accounts Banking Held & Held Away
  10. 10. Hyper- Personalization Empower NextGen Advisors Drive Firm Intelligence © 2018 MyVest Corporation. All Rights Reserved. Dynamically tailor solutions, service, and content to each consumer’s individual circumstances
  11. 11. Hyper- Personalization Empower NextGen Advisors Drive Firm Intelligence © 2018 MyVest Corporation. All Rights Reserved. Systematically pinpoint highest value activities to grow/retain/scale
  12. 12. Hyper- Personalization Empower NextGen Advisors Drive Firm Intelligence © 2018 MyVest Corporation. All Rights Reserved. Unlock new insights to drive strategic resource allocation
  13. 13. No one shops for a data layer. Agile firms connect the dots. Alois Pirker © 2018 MyVest Corporation. All Rights Reserved.
  14. 14. Customer data is the asset that enables us to move from mass production to “markets of one.” Anton Honikman © 2018 MyVest Corporation. All Rights Reserved.
  15. 15. Learn more aitegroup.com myvest.com © 2018 MyVest Corporation. All Rights Reserved.

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