This document discusses improving the customer experience for wealth managers. It notes that regulators, clients, and wealth managers often have conflicting expectations that are influenced by changing regulations, technology, and client demands. The document outlines the complex operating models and integrated services that many wealth managers now provide. It proposes a client-centered architecture using digital channels and unified technology to better service multiple client segments and meet the various expectations of regulators, clients, and the firms themselves.
Voice of the client - 1000 HNW and affluent investorsIRESS
IRESS, research partner to Compeer, responds to research findings of a 1000 high net worth and affluent investors. Presented at the Clients' View conference, 1st December 2016.
Is Investing Dull? How technology can be used to promote and sustain client e...IRESS
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
IRESS solutions for Integrated Trading and ClearingIRESS
This document provides information about IRESS, a technology company that provides financial market solutions. Some key details include:
- IRESS has over 1500 employees located across 17 offices in 7 countries on 5 continents.
- Their solutions are used by leading financial service providers for real-time data access, trading capabilities, and connectivity on a single platform.
- IRESS delivers current solutions and is designing new offerings for trading, deal management, and full market data access.
Digital payments are becoming the norm as customers increasingly rely on digital services and conduct transactions online rather than with physical cards or cash. Key trends include the growth of peer-to-peer and business-to-business digital payments, tokenization standards, smart point-of-sale devices, and passive contactless payments. Payment providers face both opportunities and threats from new digital technologies and entrants, and must transform their organizations, technologies, and business models to keep up with rapidly changing customer expectations and remain competitive in the digital landscape.
The presentation is part of a series of Lectures on Management Information systems at the Department of Accounting, University of Jos. It elucidates the concept and practice of Ecommerce and its implications for the Accounting profession.
DOI: http://dx.doi.org/10.13140/RG.2.2.24508.36486
Updated at: https://www.researchgate.net/publication/353654999_E-commerce
We bank digital banking decoded for bnm 0618 v1.9(3)Chris Skinner
The document summarizes WeBank, China's first digital bank. It notes that WeBank is backed by Tencent and driven by technology and innovation to provide banking solutions anytime, anywhere. It aims to promote financial inclusion through connecting financial institutions and businesses using data, risk management, capital and products. WeBank utilizes cutting-edge technologies like artificial intelligence, blockchain, cloud computing and big data to rapidly scale products to market and lower costs and risks compared to traditional banks. The document also highlights WeBank's robust growth in customers, assets and profits from 2015-2018.
Sameer is a digital strategist focusing on removing friction across Banks, NBFCs, Fintechs and Software providers. He is working with Financial Institutions for establishing their digital strategy in alignment with business strategy. The digital strategy would generate value through increase in digital footprint / revenues / cross-sell. This would also reduce costs through productivity gains, automation and process realignment. Digital initiatives as part of strategy would include loan origination, Cross sell platform, Omnichannel platform, Analytics & AI, Mobility and Fintech tie-ups.
This deck is part of his open innovation approach. This can be used by anyone.
Voice of the client - 1000 HNW and affluent investorsIRESS
IRESS, research partner to Compeer, responds to research findings of a 1000 high net worth and affluent investors. Presented at the Clients' View conference, 1st December 2016.
Is Investing Dull? How technology can be used to promote and sustain client e...IRESS
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
IRESS solutions for Integrated Trading and ClearingIRESS
This document provides information about IRESS, a technology company that provides financial market solutions. Some key details include:
- IRESS has over 1500 employees located across 17 offices in 7 countries on 5 continents.
- Their solutions are used by leading financial service providers for real-time data access, trading capabilities, and connectivity on a single platform.
- IRESS delivers current solutions and is designing new offerings for trading, deal management, and full market data access.
Digital payments are becoming the norm as customers increasingly rely on digital services and conduct transactions online rather than with physical cards or cash. Key trends include the growth of peer-to-peer and business-to-business digital payments, tokenization standards, smart point-of-sale devices, and passive contactless payments. Payment providers face both opportunities and threats from new digital technologies and entrants, and must transform their organizations, technologies, and business models to keep up with rapidly changing customer expectations and remain competitive in the digital landscape.
The presentation is part of a series of Lectures on Management Information systems at the Department of Accounting, University of Jos. It elucidates the concept and practice of Ecommerce and its implications for the Accounting profession.
DOI: http://dx.doi.org/10.13140/RG.2.2.24508.36486
Updated at: https://www.researchgate.net/publication/353654999_E-commerce
We bank digital banking decoded for bnm 0618 v1.9(3)Chris Skinner
The document summarizes WeBank, China's first digital bank. It notes that WeBank is backed by Tencent and driven by technology and innovation to provide banking solutions anytime, anywhere. It aims to promote financial inclusion through connecting financial institutions and businesses using data, risk management, capital and products. WeBank utilizes cutting-edge technologies like artificial intelligence, blockchain, cloud computing and big data to rapidly scale products to market and lower costs and risks compared to traditional banks. The document also highlights WeBank's robust growth in customers, assets and profits from 2015-2018.
Sameer is a digital strategist focusing on removing friction across Banks, NBFCs, Fintechs and Software providers. He is working with Financial Institutions for establishing their digital strategy in alignment with business strategy. The digital strategy would generate value through increase in digital footprint / revenues / cross-sell. This would also reduce costs through productivity gains, automation and process realignment. Digital initiatives as part of strategy would include loan origination, Cross sell platform, Omnichannel platform, Analytics & AI, Mobility and Fintech tie-ups.
This deck is part of his open innovation approach. This can be used by anyone.
The document discusses the evolution of digital banking driven by the Internet of Everything (IoE). It outlines the progression from early dial-up e-banking experiences and multichannel integration to modern digital banks that leverage full-function smartphone apps, big data analytics, 360-degree customer views, and omnichannel experiences personalized for individual customers through intercloud technologies and both structured and unstructured data.
Save-Guarding Your Innovation Landscape: Outsource Innovation and Channel Rev...Derrydean Dadzie
This presentation shoots into innovation and how enterprises can maximize innovation by outsourcing the innovation endeavor to a third party partner. I did this presentation in July 2014.
apidays LIVE Jakarta - Connecting the digital economy in South East Asia with...apidays
apidays LIVE Jakarta 2021 - Accelerating Digitisation
February 24, 2021
Connecting the digital economy in South East Asia with APIs
Todd Schweitzer, CEO & Co-Founder at Brankas
DI FinTech Conference - Mastering Open banking in the emerging experience eco...Johan Löfmark
1) The Nordic region has been a pioneer in digitizing financial services, with the highest adoption of mobile and online banking globally and nearly all banking interactions now occurring through digital channels.
2) However, while Nordic banks have digitized business processes and customer experiences, the next phase of digital transformation requires disrupting existing business and revenue models through open banking, personalization, ecosystem collaboration, and new digital products and services.
3) Dematerialization of banking through open APIs and platforms will allow banks to offer a range of financial products and services from external providers through bank platforms, moving them away from being vertically integrated providers of their own products and services.
Banking 4.0 everywhere or Invisible Bank : Nouamane Cherkaoui 10th february ...Nouamane Cherkaoui
A virtual conference witk specalist on Banking diditalization & transformation
Talk about understanding of new technologies in banking sector that allow the creation of digital assets
and help in gaining a deeper understanding of the connection between customer, strategy and analytics
DFS21_Workshop_Tristan Wattiez and Peter Feijen_Transmit Security_211130FinTech Belgium
This document discusses the importance of customer experience for digital businesses. It notes that superior customer experience can positively impact a brand's attitude, digital conversion success rates, and how often customers use other channels instead of direct engagement. The document then discusses how customer experience encompasses many aspects of a customer's interactions, such as ease of use, self-service abilities, and expectations management. A large portion focuses on password usage and how removing passwords can improve the identity experience by streamlining registration, login, account recovery and other processes. It promotes a passwordless authentication solution as providing better security alongside a more familiar customer experience.
BaaS-platforms and open APIs in fintech l bank-as-a-service.comVladislav Solodkiy
What is bank-as-a-service? And why it is so necessary for Asia-Pacific region? Download as pdf in English, Chinese, Korean and Japanese on www.bank-as-a-service.com. Read more on http://www.forbes.com/sites/vladislavsolodkiy/2016/08/03/what-asian-banks-can-learn-from-amazon-about-working-for-fintech/
Today's customers are fundamentally different from customers of past years as they are harder to acquire, retain, and delight because of the explosion in digital technologies consumers use day to day. New digital experiences are forcing banks to play catch-up and match the innovative and engaging interactions and products — such as mobile payments — that non-banks are offering to those same customers. This IDC research, sponsored by TCS Digital Software & Solutions Group, revealed three key themes for digital transformation in the banking industry.
PSD2: It’s Open Banking, not just Open Payments by Paul Rohan - FinTech Belgi...FinTech Belgium
1) The document discusses PSD2 and its implications for open banking in Europe, not just open payments.
2) It analyzes how PSD2 creates new entities like AISPs and PISPs that can extract and use bank customer data, potentially disrupting traditional banking models.
3) It also examines new dynamics in open banking ecosystems, with traditional and challenger banks becoming substitutes, complements, or partial substitutes depending on the services offered.
APIdays Open Banking & Fintech: Workshop - Financial Services Use Cases for APIsJeremy Brown
This was a fairly high level presentation I did at the APIdays Open Banking and Fintech event in London where I started to explore the main drivers for APIs, the mega trends in consumer banking and the various use cases for APIs within Financial Services.
Kash aziz sap forum may 11 2016 presentationv3.2Baraa Arksousi
The document discusses digital transformation in the banking industry. It outlines how banking has evolved from Bank 2.0 with a focus on infrastructure and processes to Bank 3.0 which offers online and mobile banking. It describes the bank of the future as being accessible wherever customers are rather than customers visiting physical branches. It also discusses how customers now conduct most of their research and account openings online and the rise of fintech companies disrupting the market. The document advocates for banks to adopt digital strategies like personalized offers, omnichannel experiences, business networks, and effective risk and compliance management to transform into digital banks.
Regulatory compliance is a very challenging task for bankers. Digital banking adds to the complexity . Banks need to go beyond regulatory compliance to be safe and successful in digital banking , as regulation is always a caching up game. Police cannot outsmart thief.
apidays LIVE Jakarta - Growing the mobile money ecosystem with Open APIs by B...apidays
apidays LIVE Jakarta 2021 - Accelerating Digitisation
February 24, 2021
Growing the mobile money ecosystem with Open APIs
Bart-Jan Pors, Director of Inclusive Fintech at GSMA
Microsoft provides digital and modern banking solutions to help financial institutions address changing customer expectations, risks of disruption, and other industry forces driving change. Key areas of innovation include digital client engagement, self-service capabilities, omni-channel experiences, hyper-personalization, third-party distribution, and technology platform modernization using approaches like APIs, partner collaboration, selective modernization of core systems, and acting like a challenger digital bank. Case studies highlight how Microsoft Services helped launch new digital banking platforms in Portugal and Italy that attracted new customer segments through modern experiences and a unique focus on sustainability.
Digital Innovation in Financial ServicesNick Baker
An overview of key FINTECH and INSURTECH developments in UK Financial Services. Examines banking, insurance, Blockchain, mobile, how much money is being invested in FINTECH
Software Advice IndustryView: SMB Readiness for BitcoinSoftware Advice
With the recent acceptance by PayPal, bitcoin is well on its way to a wider circulation. We conducted a survey to find out if small to midsize business and the public are ready for digital currency.
This document summarizes a discussion between financial planners about trends in wealth management. It discusses how robo-advisors have influenced traditional firms to adopt hybrid human-digital models. Technology now plays a key role in enabling goals-based planning, portfolio construction, and helping advisors optimize processes like client reporting. Financial planners must adapt to serving more sophisticated client needs and incorporating goals-based wealth management approaches.
An objective and comprehensive approach to evaluating the variety of strategic options available to lenders with a decision making construct for action.
The document discusses the evolution of digital banking driven by the Internet of Everything (IoE). It outlines the progression from early dial-up e-banking experiences and multichannel integration to modern digital banks that leverage full-function smartphone apps, big data analytics, 360-degree customer views, and omnichannel experiences personalized for individual customers through intercloud technologies and both structured and unstructured data.
Save-Guarding Your Innovation Landscape: Outsource Innovation and Channel Rev...Derrydean Dadzie
This presentation shoots into innovation and how enterprises can maximize innovation by outsourcing the innovation endeavor to a third party partner. I did this presentation in July 2014.
apidays LIVE Jakarta - Connecting the digital economy in South East Asia with...apidays
apidays LIVE Jakarta 2021 - Accelerating Digitisation
February 24, 2021
Connecting the digital economy in South East Asia with APIs
Todd Schweitzer, CEO & Co-Founder at Brankas
DI FinTech Conference - Mastering Open banking in the emerging experience eco...Johan Löfmark
1) The Nordic region has been a pioneer in digitizing financial services, with the highest adoption of mobile and online banking globally and nearly all banking interactions now occurring through digital channels.
2) However, while Nordic banks have digitized business processes and customer experiences, the next phase of digital transformation requires disrupting existing business and revenue models through open banking, personalization, ecosystem collaboration, and new digital products and services.
3) Dematerialization of banking through open APIs and platforms will allow banks to offer a range of financial products and services from external providers through bank platforms, moving them away from being vertically integrated providers of their own products and services.
Banking 4.0 everywhere or Invisible Bank : Nouamane Cherkaoui 10th february ...Nouamane Cherkaoui
A virtual conference witk specalist on Banking diditalization & transformation
Talk about understanding of new technologies in banking sector that allow the creation of digital assets
and help in gaining a deeper understanding of the connection between customer, strategy and analytics
DFS21_Workshop_Tristan Wattiez and Peter Feijen_Transmit Security_211130FinTech Belgium
This document discusses the importance of customer experience for digital businesses. It notes that superior customer experience can positively impact a brand's attitude, digital conversion success rates, and how often customers use other channels instead of direct engagement. The document then discusses how customer experience encompasses many aspects of a customer's interactions, such as ease of use, self-service abilities, and expectations management. A large portion focuses on password usage and how removing passwords can improve the identity experience by streamlining registration, login, account recovery and other processes. It promotes a passwordless authentication solution as providing better security alongside a more familiar customer experience.
BaaS-platforms and open APIs in fintech l bank-as-a-service.comVladislav Solodkiy
What is bank-as-a-service? And why it is so necessary for Asia-Pacific region? Download as pdf in English, Chinese, Korean and Japanese on www.bank-as-a-service.com. Read more on http://www.forbes.com/sites/vladislavsolodkiy/2016/08/03/what-asian-banks-can-learn-from-amazon-about-working-for-fintech/
Today's customers are fundamentally different from customers of past years as they are harder to acquire, retain, and delight because of the explosion in digital technologies consumers use day to day. New digital experiences are forcing banks to play catch-up and match the innovative and engaging interactions and products — such as mobile payments — that non-banks are offering to those same customers. This IDC research, sponsored by TCS Digital Software & Solutions Group, revealed three key themes for digital transformation in the banking industry.
PSD2: It’s Open Banking, not just Open Payments by Paul Rohan - FinTech Belgi...FinTech Belgium
1) The document discusses PSD2 and its implications for open banking in Europe, not just open payments.
2) It analyzes how PSD2 creates new entities like AISPs and PISPs that can extract and use bank customer data, potentially disrupting traditional banking models.
3) It also examines new dynamics in open banking ecosystems, with traditional and challenger banks becoming substitutes, complements, or partial substitutes depending on the services offered.
APIdays Open Banking & Fintech: Workshop - Financial Services Use Cases for APIsJeremy Brown
This was a fairly high level presentation I did at the APIdays Open Banking and Fintech event in London where I started to explore the main drivers for APIs, the mega trends in consumer banking and the various use cases for APIs within Financial Services.
Kash aziz sap forum may 11 2016 presentationv3.2Baraa Arksousi
The document discusses digital transformation in the banking industry. It outlines how banking has evolved from Bank 2.0 with a focus on infrastructure and processes to Bank 3.0 which offers online and mobile banking. It describes the bank of the future as being accessible wherever customers are rather than customers visiting physical branches. It also discusses how customers now conduct most of their research and account openings online and the rise of fintech companies disrupting the market. The document advocates for banks to adopt digital strategies like personalized offers, omnichannel experiences, business networks, and effective risk and compliance management to transform into digital banks.
Regulatory compliance is a very challenging task for bankers. Digital banking adds to the complexity . Banks need to go beyond regulatory compliance to be safe and successful in digital banking , as regulation is always a caching up game. Police cannot outsmart thief.
apidays LIVE Jakarta - Growing the mobile money ecosystem with Open APIs by B...apidays
apidays LIVE Jakarta 2021 - Accelerating Digitisation
February 24, 2021
Growing the mobile money ecosystem with Open APIs
Bart-Jan Pors, Director of Inclusive Fintech at GSMA
Microsoft provides digital and modern banking solutions to help financial institutions address changing customer expectations, risks of disruption, and other industry forces driving change. Key areas of innovation include digital client engagement, self-service capabilities, omni-channel experiences, hyper-personalization, third-party distribution, and technology platform modernization using approaches like APIs, partner collaboration, selective modernization of core systems, and acting like a challenger digital bank. Case studies highlight how Microsoft Services helped launch new digital banking platforms in Portugal and Italy that attracted new customer segments through modern experiences and a unique focus on sustainability.
Digital Innovation in Financial ServicesNick Baker
An overview of key FINTECH and INSURTECH developments in UK Financial Services. Examines banking, insurance, Blockchain, mobile, how much money is being invested in FINTECH
Software Advice IndustryView: SMB Readiness for BitcoinSoftware Advice
With the recent acceptance by PayPal, bitcoin is well on its way to a wider circulation. We conducted a survey to find out if small to midsize business and the public are ready for digital currency.
This document summarizes a discussion between financial planners about trends in wealth management. It discusses how robo-advisors have influenced traditional firms to adopt hybrid human-digital models. Technology now plays a key role in enabling goals-based planning, portfolio construction, and helping advisors optimize processes like client reporting. Financial planners must adapt to serving more sophisticated client needs and incorporating goals-based wealth management approaches.
An objective and comprehensive approach to evaluating the variety of strategic options available to lenders with a decision making construct for action.
The Secret to Acquiring and Retaining Customers in Financial ServicesPerficient, Inc.
The document discusses customer intelligence in the financial services industry. It defines customer intelligence as the strategic combination of data, analytics, technology, and operations to acquire and retain customers through data-driven insights. It outlines challenges such as legacy systems, lack of skills, and no coherent strategy. It provides examples of how insurers and banks are using customer data for personalization. It also presents a customer intelligence framework and discusses measures for customer engagement, acquisition, and retention.
Robo advisory, cryptocurrency, and chatbots are transforming the financial services industry through automation, artificial intelligence, and digital innovation. Incumbent financial firms recognize the need to partner with fintech companies and adopt these new technologies to remain competitive. Robo advisors provide automated, low-cost investment management services with minimal human interaction. Cryptocurrency has emerged as a new digital asset class. Chatbots are being used to deliver personalized customer service and support through conversational interfaces. These trends will continue to disrupt traditional financial models and require adaptation from existing players.
This document discusses the potential for "Robo-Advisors" or software-assisted wealth management advisors to address challenges in the industry. It notes rising customer expectations, threats of substitution from online advisors, growing costs and regulatory pressures, and the need for customizable service models. The rationale presented is that Robo-Advisors could help standardize solutions while still offering customization. They could assist human advisors in comprehensively handling client diversity and needs to structure optimal financial solutions. If effectively positioned and implemented, Robo-Advisors could enhance existing wealth management products and revolutionize the advisory business, particularly for underserved emerging markets.
Quote-to-Cash For Financial Services: Tech Creates ROI for Your Business and ...Apttus
In this story of Digital Transformation, learn how Quote to Cash Technology is driving performance in the Financial Services industry - from Research to renewal.
Challenges and Risks for the CIO from Outsourcing in the digital eraAntoine Vigneron
This document discusses the challenges facing CIOs from outsourcing in the digital era. It covers several topics: how trends like cloud computing are disrupting traditional outsourcing arrangements; whether everything as a service models could lead to outsourcing everything; and how governance needs to evolve to address challenges from digital and transformational outsourcing. The document also examines how digital disruption is impacting industries, and discusses trends in areas like travel and transportation that are improving customer experiences through new technologies.
The document provides an overview of commonly used strategic frameworks and tools including the strategic planning process, McKinsey/GE matrix for industry analysis, Porter's five forces analysis, product life cycle analysis, value chain analysis and the BCG growth-share matrix. It also includes examples of a SWOT analysis, strategic growth options around core competencies, scenario planning and a competitive analysis matrix.
Hedge Funds Capabilities Model: Comprehensive and customizableCIOPagesCapabilityMo
The Hedge Funds Capabilities Model is a comprehensive industry straw model of capabilities which Hedge funds can customize to their unique needs. Visit: https://www.ciopages.com/store/hedge-funds-capabilities-model/
Do More with Less: Navigating Customer Acquisition Challenges for Today's Ent...Search Engine Journal
In today's rapidly evolving digital landscape, businesses face unique challenges in acquiring customers and expanding their digital footprint. From limited resources and intense competition to lack of insights, navigating this terrain requires innovative acquisition strategies.
Check out this exclusive webinar, where we will delve into a two-pronged strategy of driving campaign efficiencies while laying the foundation for long-term success.
You’ll learn expert tips for:
- Driving efficiency in paid media campaigns.
- Working towards long-term success.
- Leveraging cross-channel strategies.
Integrating CRO with Paid channels to deliver optimum results.
With Tim Murphy and Susovan Ray, we’ll explore a scalable and sustainable acquisition framework to support long-term growth objectives.
Whether you're a marketing leader seeking practical strategies or a performance marketer looking to enhance your company's digital presence, this webinar will equip you with insights needed to break through barriers and achieve success in digital acquisition.
Defogging The Cloud where you'll hear Billingviews.com Publisher Alex Leslie, as well as our own billing expert Jason Mondanaro walk through best practices for choosing the right monetization solution for your business.
SunTrust Bank uses Salesforce to streamline its sales process, improve relationship planning, and increase cross-LOB partnerships. This has led to increased fees, referrals, loans, and wallet share.
Wells Fargo's Consumer Credit Group implemented Salesforce to better leverage online leads, provide timely customer response, and improve sales agent productivity. It has helped scale processes and retain market share through integrated sales across channels.
The Hedge Funds Capability Model is an expert-built straw model of a hedge fund's capabilities customizable to the enterprise's unique needs. Visit: https://www.finantrix.com/product/hedge-funds-capability-model/
Digital Transformation in Customer Service: Roadmap for Success in 2014Ajit Khadd
Consumers have gone digital; you hear phrases like “digital by default” and “digital transformation”
in the C-suite. In fact, CDOs (Chief Digital Officers) are the latest addition to the C-suite!
The aftermath of the share class haggle in UK retail investments, post RDRDavid Taylor
As the Retail Distribution Review took effect in the UK in 2013, many expected distributors of investment products to win the haggle with product providers.
This didn't happen. But the aftermath leaves as many questions unanswered by the industry. This presentation paints some scenarios and explores the implications for action
Staying Strategic How Procurement must Change!Bill Huber
As traditional sourcing techniques become increasingly outdated, the procurement function must evolve to remain strategic, and procurement professionals must acquire new competencies.
You will learn:
How traditional roles within sourcing and procurement are changing
How robotics and other disruptors will impact the procurement function
Emerging requirements for procurement professionals
Specific capabilities and skill sets procurement professionals need
Through the Eyes of the Connected Consumer: Gain Visibility and Insights to I...Perficient, Inc.
ind out why 30% of Fortune 100 companies rely on IBM Tealeaf to help them become customer-centric organizations that deliver better digital customer experiences. In this slideshare, we look at real customer implementation stories and discuss how your organization can:
Increase conversion and adoption rates
Better understand online customer behavior
Eliminate roadblocks that erode customer satisfaction
Pinpoint and resolve the issues that have the most significant impact on revenue
Evolving an Enterprise Architecture Practice - Spring 2015 v02 FinalJerry Sayre
This document provides an overview of Mutual of Omaha's enterprise architecture practice. It discusses the evolution of their enterprise architecture to become more business and strategy-centric. It then summarizes the key components of their enterprise architecture, including their business architecture, information architecture, application architecture, and technical architecture. The business architecture section focuses on their business model, capabilities, processes, and how these fit together. The information architecture section outlines their data architecture and approach. The application architecture section describes their approach to applications across mobile, web, and cloud. Finally, the technical architecture section notes their application portfolio management.
Similar to Front End: What can we do to improve the customer experience? (20)
Regulation, transformation, and conversation will shape the delivery of financial services in 2018 according to this document. Regulation will continue to be a major focus as firms adapt to new rules like MiFID II and GDPR. Technology will help firms address regulatory compliance challenges and drive innovation. Transformation will see a focus on better client outcomes and value through new technologies like blockchain, smart contracts, and data insights. Conversation will rise through hybrid advice models using bots, AI, and new channels alongside preserving face-to-face engagement.
The hybrid planner - the do's and don'ts of digitalIRESS
At the recent PFS Festival of Financial Planning event, Chris Pitt discussed what being digital really means for today's financial planning firms. What should they definitely have on their digital roadmap in 2018 and what factors might need a bit more thought.
Henry Woodcock IRESS - IRESS Mortgage Conference 2017 IRESS
The document summarizes the key findings of the Mortgage Efficiency Survey 2017 conducted with 21 leading UK lenders representing over half of the mortgage market. It found that the re-mortgage market grew 11% year-over-year while buy-to-let sales only dipped slightly. Offers made within 10 days increased to 30.8% and the intermediary channel still dominates with 80% market share. Lenders are increasingly adopting digital technologies like mobile apps, robo-advice, and chatbots to improve the customer experience, especially for re-mortgages.
What will the financial advice process look like in 2025?IRESS
Technology and regulatory change are transforming financial advice as we know it. From MiFID II to PSD 2, see what the future of advice will look like.
- Firms in the wealth management industry face challenges in scaling their operations to meet growing assets under management, increasing regulations, and rising client expectations.
- Most firms plan to increase technology investment over the next 3 years to gain efficiencies and support scalability, but cost efficiency alone is not enough - revenue growth through improved client acquisition, retention, and experience is also needed.
- A client-centric, strategic approach is required that leverages omnichannel delivery and a hybrid human-digital model to enable firms to scale and meet the needs of diverse client segments now and in the future.
This document lists the names of 10 people who won an IRESS photography competition. The winners are Kieran McNamara, Andrew Levers, Haresh Karkar, Emily Chen, Gordon Suen, Hazeelin Hassan, Ambar Bose, Shabeeha Aththas, Ramnik Sharma, and Brodie Watson.
The document discusses how financial advisors can use technology to provide digital services to customers. It outlines a potential customer journey in 2025 where a customer's financial information is pre-populated online and she can easily top up her ISA with guidance from an AI assistant. The document also describes how the same customer later connects with her advisor via video chat to get advice on retirement investments. The technology streamlines the advice process and builds trust in the customer-advisor relationship by enhancing engagement and collaboration. Finally, the document lists five ways that financial advisors can embrace technology, such as using digital tools to automate workflows and engage customers online, to transform their business into a technology company.
Is digital transformation just the latest fadIRESS
Is digital transformation just the latest fad to make businesses invest in more technology? Henry Woodcock, Principal Mortgage Consultant speaking at BSA Conference 3rd May
IRESS & ComPeer our research partner interviewed COO's and Heads of Technology who are responsible for £100bn assets under management to understand the challenges of ageing legacy systems. IRESS present their key findings and conclusions from this industry wide Wealth Management research.
Getting commercial about customer experience (and 3 things that should be hig...IRESS
Customer Experience (CX) has become the buzzword of 2017, but why exactly should it be a key commercial priority for wealth management firms, and what are the three areas that should be at the top of your CX agenda?
The Paraplanners' Perspective - Technology & the Advice ProcessIRESS
The Paraplanners's perspective - from the evolution of technology to how technology has enhanced the advice process and the role of Paraplanners'. Colin Sloss outlines his thoughts at a recent CISI Paraplanner workshop.
Colin Sloss presented 'Lifestyle goals investment planning - the evolving role of technology' at the CISI financial planners event at their London head office in January 2017.
Chris Pitt explored the likely future and profitability of robo-advice at the Goodacre Securities Conference, considering current trends, lessons from the past and future forecasts. Watch the presentation on periscope: https://www.periscope.tv/w/1kvJpVyyoBLKE
Mortgage Efficiency Survey 2016 - Henry WoodcockIRESS
Hi-lights from IRESS Mortgage Efficiency Survey 2016.
This industry survey, now in its fifth year, tracks the developments in the mortgage industry over the past 12 months. It enables lenders to benchmark their mortgage sales and originations systems and processes against the mortgage market as a whole, their peers and the sector they operate in across a variety of key performance indicators.
For the full report view www.iress.com/mes2016
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
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8. iress.com 8
69% Baby Boomers Retiring
Every day in the US.
Changing market
10,000
More likely to feel
confident that they
can achieve their
life goals if they
have a written plan in
place, compared to
no plan.
3x
Consumers
Seek financial advice
from sources other
than a financial adviser.
More in retirement
savings of the advised to
the non advised.173%
9. iress.com 9
7.6bn
Online advice
Consumers seek
financial advice online
Digital
Banking
transactions
Online
Mobile phones
Across the world, exceeding
the number of people in
the world
Expect customer facing staff
to have a single view of them in real time70%
41% 85%
10. iress.com 10
Changes to advice model
• Handles high
complexity and
inter-dependent
strategy decisions
• Comprehensive
feature set
• Advice provided
with adviser and
client together,
facilitated by
technology
• Engaging
experience, less
complex
• Fast & highly
repeatable, but less
flexible
• Non-advice
• Highly brand-able
and configurable
• Integration to
Product
Manufacturer
• Highly brand-able,
consistent
language and
presentation with
brand
• Simple advice
problems and
options
• Built for scale, so
want to ensure
limited need for
human help
• Very simple
calculations &
problem solving –
easy to understand
• Tightly linked to
human support
channel who have
same view (screen
share)
Holistic Advice
Guided Advice:
Face to Face Execution only
Self-directed
“Robo” advice
Guided Advice:
Phone / Online
Full Service No service
Advice models have evolved and increasingly cover a breadth of different
propositions, often with multiple forms in the same organisation.
11. iress.com 11
• Advisory Services
• Investment Services
• Research
• Portfolio Management
• Market Data
• Trading
• Order Management
• Analytics
• Client Management
• Research
• Business Automation
• Financial Planning
• Goals based planning
• Access to investment
products
• Digital access
• Robo
Integrated wealth management
Integrated Wealth
Client Management
Advisory Services
Discretionary Management
Execution Only
Financial Planning
Consolidated reporting
Access to specialist services -
e.g. Tax
Digital servicing
Robo
Broking Advice
A large and growing number of participants now provide a range of services.
These span execution only, private asset management, advice, digital servicing…
and usually span multiple legacy systems.
12. iress.com 12
Complex operating models
Business models have evolved through regulatory censure and reform, market
structure, client expectation, and revenue pressure. The operational demands of
an integrated wealth model are complex and increasingly evident.
Outsourced
Service
Provider
Robo AdviceExecution Only
Lombard Lending
Discretionary
Investments
Tax Specialist
Digital Servicing
Consolidated
Client Reporting
Retail platforms
Discretionary
Management
Estate
Planning
Advisory Fiduciary
Financial
planning
Legacy manufacturers
Integrated
Wealth
Manager
13. iress.com 13
Putting it all together
Regulator:
Information
Visibility
Expertise
Consistency
Documentation / evidence
Clients:
Information
Attention
Access
The ‘right’ outcome
Reasonable cost
Performance
Wealth
Managers:
Profitability
Efficiency
Lower costs
Increased revenue
Managed risks
Predictability
19. iress.com 19
Starting out in self-directed
James, 26
Just got a new job with a big pay rise. He’s decided to get serious about saving for a
house deposit with his girlfriend as they moved in together and the rent is expensive.
How much do
I need to
save?
Where should
I be investing
my money?
Is this
the right
investment
mix?
What’s
the right
investment
option for me
That looks
good. Can
you set it up
for me?
DOMYSELF
IRESS XPLAN CLIENT ONLINE
DOWITHANADVISOR
SELF DIRECTED
Instant message
Would you like to
speak to someone?
Phone or face to face
Email prompt
Set up an investment
account online
How am I
tracking
towards my
goal?
Email out
Advice docs + link
to portfolio
Morning.
So I am here to talk about the Front end and what we can do to improve the customer experience. Before I get onto the consultant speak, let me focus in on the word experience, and use two examples to illustrate this.
Both stories are about a brand we all know – Coca cola, and how they engaged very different customers in the Coke experience.
For the first example, There are a lot of South East Asians working in Dubai – average income of $6 per day. They can’t afford to contact home, although they manage to send a stipend home to feed and educate their families. Coke set up phone booths where the user would insert a coke bottle top into a machine, and in return would be given a 3 minute international call. Needless to say, there was not much more than coke drunk while the promotion was on.
In the second example, new student on a university campus, who didn’t know anyone, were given free access to large fridge full of cokes. How many students don’t like a freebie right? After helping themselves, they found out that a special cap had been put on the lids, ensuring that the only way of opening one bottle was with another. In this way, students were forced to talk to other students in order to get their freebie open. Another example of creating an experience around a product.
So using those stories – if coke was able to create a unique, memorable, experience for completely different segments of their market, around the same soft drink. What do Investment managers, with all the technology in the world need to do to create a defining experience for their customers.
Change is ongoing and relentless
Can be a huge distraction from clients
Clients expect far more
Needs vary across client types –investment products and advice
Whilst ‘standardised’ evident for mass affluent
Flexibility as you go upwards
Participant firms typically span
Single entity or different brands within the same organisation
Requires depth a breadth of proposition that is operationally challenging
Legacy tech and Ops common
Market changing
Clients expectation is changing
idea of retirement gets obliterated. Most millennials will never stop working. Instead, they’ll seamlessly blend their work and life to create a way to make money and have fun at the same time.
https://www.fpsb.org/news/pressreleases/602-global-survey-by-financial-planning-standards-board-finds-consumers-lack-strong-confidence-in-achieving-their-financial-goals.html
Montmarquette, C and Viennot-Briot, N, “The Value of Financial Advice” ANNALS OF ECONOMICS AND FINANCE 16-1, 69–94 (2015)
http://www.pewresearch.org/daily-number/baby-boomers-retire/
Digital becoming more real
But expectations are broader
Challenges traditional advice models
We are Increasingly seeing different advice models Often under one brand.
Put significant pressure on ops and systems
This introduces significant risks especially the risk of inconsistent outcome.
Still looking at influences to the customer experience,
As business models change so do ops models
Increasingly complex
So what do we see as the way to improve the customer experience?
We see a client centric world
Supported by a range of key components. What I mean by this is:
Putting the client, at the centre, forces a scalable, modular approach, allowing for the introduction and removal of new services, regulation and so forth.
What this allows for is servicing of multiple channels and Enables switching between channels
As we all know, most of these channel's have been around for ages.
The key to a better customer experience, is pulling together the different preferences and propositions leveraging common capabilities and delivering them consistently.
e,.g Recommendaitons / outputs the same irrespective
As an example: It’s not just about advice – its about the experience.
Its about a millennial check a share price from his apple watch, placing a trade from his phone, and viewing the resulting portfolio as he comes back from lunch.
Its about supporting new channels, to create engagement
Video has been around for ages
We need to make it interactive and participative. The video should be recorded, catalogued and stored against the client file for access on another device at a later point.
Example of how we have enable a client journey
In conclusion – the customer experience, needs to be improved, by being tailored to its audience, with the same output or result, no matter what the channel and no matter what the channel may be in a few years time.