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Digital Transformation in Investment Consulting Fund Professional Congress 2018, Mannheim, Germany

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FinTech is a major development driver in the banking industry and will be indispensable for the implementation of financial transactions in the near future. For financial advisors, the question arises as to how digital products and FinTech affect their work.

Financial services (Fin) and technology (Tech) have always been closely linked. So it is not surprising that digitization in the past has been driven by banks, asset managers and insurance companies. More than 700 FinTechs in German-speaking countries are accelerating this development.

But how do digital products and FinTech affect the work of financial advisers? Do the associated technologies only change the rules of the game, or are new bases for financial advice created? And what stumbling blocks are there on the way from the classic system to the digital one?

In a presentation at the Professional Profession Congress 2018 in Mannheim on January 24, 2018, Frank Schwab, co-founder of the Frankfurt FinTech Forum and digitization pioneer, explains which changes and challenges are foreseeable in the future. In addition, the expert provides information on how to tap the new potential with the right know-how.

At the present time, it can be stated that investment advice is in a transitional stage. Nevertheless, the "digital transformation" in the consulting industry raises many questions. How will the tasks and working methods of financial advisors change? And to what extent will customer expectations change? In short, what do today's consultants have to expect to be prepared for the business of tomorrow?

In his presentation, Frank Schwab discusses these and other existential questions for the future of financial advisers as to why consultants should know about STP, API, AI, P2P, Robots, Crypto, Blockchain and other developments. Learn about Nicola Pragera and digital assets, John Naisbitt and Mega Trends, Mobile Pay and Danske Bank, KWITT and Sparkassen, Crypto, Bitcoin and Factor 70, ICOs and Neufund, Rob Advisory and niiio, Mobile and savedroid, kapilendo, smava, bitcoin.de, goldmoney and Fidor Bank, new KPIs, diffusion of innovation and the future.

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Digital Transformation in Investment Consulting Fund Professional Congress 2018, Mannheim, Germany

  1. 1. Digital Transformation in Investment Consulting Frank Schwab, Mannheim FrankSchwabSpeaks.com Danske Invest: Fonds Professionell Kongress, 24th January 2018
  2. 2. Irving Fisher, Professor of Economics, Yale University Stock prices have reached what looks like a permanently high plateau. 1929
  3. 3. Dow Jones Industrial Average Source: boerse.de 1929 2018
  4. 4. Salvator Mundi Leonardo da Vinci US$ 450,312,500 Christie‘s, 17th November 2017
  5. 5. Nicola Pragera October 2017
  6. 6. www.oooooooooooo.de
  7. 7. It’s Difficult to Make Predictions, Especially About the Future Sir Winston Leonard Spencer-Churchill
  8. 8. www.oooooooooooo.de 1 Million Euro ?
  9. 9. Trends Mega
  10. 10. Largest accommodation provider Largest taxi company Most valuable retailer Largest telco provider Most popular media owner
  11. 11. ECB Money Flood
  12. 12. No interest business
  13. 13. DAX - current all time high
  14. 14. Real Estate becomes more and more expensive 100 95 97 109 128 135 140 90 100 110 120 130 140 150 2004 2017 Source: Statista Prices in %
  15. 15. Alternative Investments Source: view.stern.de, Fotograf: Jspohr
  16. 16. ?
  17. 17. The future is already here — it's just not very evenly distributed. William Gibson, Fiction Novelist
  18. 18. New Services New Assets
  19. 19. Crowd
  20. 20. 1 Million Euro in 9 minutes and 23 seconds
  21. 21. Peer to peer
  22. 22. Crypto
  23. 23. Digital Gold – November 2017 183,000,000 kg 16,600,000 Coins 7,279 bn USD 118.8 bn USD Fair value 1 BTC = 436,500 USD
  24. 24. Factor 70
  25. 25. “Resistance to change falls if benefits are real” John Naisbitt, MindSet! #7
  26. 26. Inflation in Venezuela 18,7% 27,08% 26,09% 40,64% 121,74% 254,95% 720,45% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017* Source: Satista
  27. 27. 142% 62% 43% 33%
  28. 28. Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust Trust
  29. 29. > 1,400 crypto currencies > 7,900 markets
  30. 30. Crypto currenciesAll money 83.6 trillion USD 400 billion USD
  31. 31. Factor 200
  32. 32. Example: STEEM
  33. 33. Example: TIME
  34. 34. At the beginning
  35. 35. Blockchain
  36. 36. ICO
  37. 37. ICO Market 2017: 4.9 Billion USD 28 in million USD 680 Source: crunchbase 1,400 2,800
  38. 38. AI ^
  39. 39. Amelia, Quelle: IPSoft IT Service Desk Agent SEB Bank 3 Wochen 700 Angestellte 4.000 Anfragen
  40. 40. Robo Advisory
  41. 41. Mobile
  42. 42. 5 million EUR in 7 hours
  43. 43. Platform
  44. 44. Because of its API infrastructure Fidor Bank could already integrate more than 20 partner into the customer account The open API infrastructure enables value added services in Fidor’s SMART customer account Examples: Precious metals– Goldmoney Social Lending – SMAVA Foreign currencies– The Currency Cloud Fidor Bank offers more customer centric online functionalities than any other bank, real time, and at significant lower costs
  45. 45. New banking services built on new technologies Crowd P2P Crypto Cloud API ^ AI MobileBlockchain Platform
  46. 46. All just hype?
  47. 47. 36
  48. 48. BPO; 396 Insurance; 1.515 FinHCIT; 2.087 FinMgmtSol; 4.173 IB / Wealth; 4.702 Banking/Lending; 9.296 Payments/Ecommerce; 13.543 36 Bn USD FinTech investments in 2016, globally Source: Financial Technology Partners [in million USD] 1.525 transactions 337 432 293 186 141 10531
  49. 49. Investment volume in bitcoin & blockchain skyrockets in million USD 2013 94 2014 315 2015 1,000 2012 2 Sources: Coindesk, KPMG, PwC 2016 1,400
  50. 50. IT redefines banking = new KPIs
  51. 51. Computer power becomes always cheaper
  52. 52. IT costs per user per year in USD 200 Tier 1/2 Bank eBay 7.4 Facebook 3.8 Google 3.4 FinTech 10
  53. 53. Customer aquisition costs in EUR 50 - 200 Traditional Bank FinTech 5 -25
  54. 54. R I P Traditional investment consulting
  55. 55. Diffusion of innovation Longer than you think Faster than you think Time Diffusion
  56. 56. Investment consulting disrupted Digital Traditional Assets DigitalServicesLegacy Niche Niche Er Successful disruptors
  57. 57. Success = 1 % talent + 99 % hard work
  58. 58. Frank@FrankSchwabSpeaks.com

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