This document outlines 7 ways that technology is transforming the financial advisory industry: 1) Tools and calculators are providing advisers more capabilities to serve clients, 2) An interconnected world allows efficient data sharing, 3) Social media is helping advisers connect with clients and promote their brand, 4) Remote working allows greater flexibility, 5) Online propositions expand client access, 6) Digital solutions provide 24/7 service, and 7) Personal data management gives clients a unified view of their finances and reduces re-entry of information. The document provides examples and statistics on each trend.
Front End: What can we do to improve the customer experience?IRESS
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.
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.
The document discusses several trends in payments for 2016, including the continued growth of mobile payments and mobile wallets, with mobile payments projected to grow 23.2% annually through 2020. Regulators are focusing on innovation and competition by opening up payments systems. Payments processing is undergoing a transformation to build next-generation infrastructure using APIs, payment hubs, and payment infrastructure modernization. Immediate payment systems are continuing to accelerate globally to meet demand for ubiquity and competitiveness. Blockchain technology is gaining interest for applications in payments optimization and cryptocurrencies. Hidden payments volumes, including mobile money and digital wallets, are growing and expected to reach $24.5-40.9 billion in 2014.
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
This document outlines 7 ways that technology is transforming the financial advisory industry: 1) Tools and calculators are providing advisers more capabilities to serve clients, 2) An interconnected world allows efficient data sharing, 3) Social media is helping advisers connect with clients and promote their brand, 4) Remote working allows greater flexibility, 5) Online propositions expand client access, 6) Digital solutions provide 24/7 service, and 7) Personal data management gives clients a unified view of their finances and reduces re-entry of information. The document provides examples and statistics on each trend.
Front End: What can we do to improve the customer experience?IRESS
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.
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.
The document discusses several trends in payments for 2016, including the continued growth of mobile payments and mobile wallets, with mobile payments projected to grow 23.2% annually through 2020. Regulators are focusing on innovation and competition by opening up payments systems. Payments processing is undergoing a transformation to build next-generation infrastructure using APIs, payment hubs, and payment infrastructure modernization. Immediate payment systems are continuing to accelerate globally to meet demand for ubiquity and competitiveness. Blockchain technology is gaining interest for applications in payments optimization and cryptocurrencies. Hidden payments volumes, including mobile money and digital wallets, are growing and expected to reach $24.5-40.9 billion in 2014.
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
This presentation examines trends and innovations in financial services (focusing on banking, insurance, credit cards).
In the last few years, the financial services industry has undergone a digital evolution. Now, it is time for a digital revolution, due to growing disruptive "Fintech" start ups and their innovative models.
Disruption in Financial Services? A Silicon Valley PerspectiveHearsay Systems
Jon Sakoda, general partner of venture capital firm New Enterprise Associates (NEA) presents his expert insight on the current and future state of tech and financial services.
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.
As we kick off 2016, what will Financial Institutions and the FinTech disruptors focus on from a payments perspective? What and who will be the winners and losers when it comes to mobile payments, mobile wallets, digital payment solutions, cryptocurrencies and blockchain? CG’s Emerging Payments Leads Jim McLeod and Sam Maule share their thoughts on these topics with David Brear, the Chief Thinker at London’s Think Different Group. Watch the full video: https://www.youtube.com/watch?v=GUnf0OtE6bI
Banking Disruption in Financial Services: Threats and OpportunitiesDogTelligent
There are three forces shaping the future of banking. Technology innovation is the first. For most traditional financial institutions -- banks and credit unions -- technology innovation is a weakness; instead, they rely on third-party firms ranging from established core providers to startups to provide them with a mix of products that they repackage and resell to their customers. Demographics is the second force. Millennials now account for 25% of the US population with 80 million and growing. The third force is the emergence of new business models on the one hand driven by Millennial demand and communication preferences, and on the other, enabled by new technologies as they are invented.
The report examines data from multiple sources and suggests potential defenses for institutions to fend off competitive threats from technology, retail, and telecom firms that are gaining traction in the payments and banking arenas.
Innovation in Insurance - necessity or luxury?Mateusz Maj
So the world is changing at bewildering speed and we are facing an economic and digital revolution. To manage that change, countries and communities need to change the way we do business and insurance industry cannot ignore these changes. Learn why.
Philippe Gelis, CEO & Co-Founder of Kantox, talking about the next 10 years in Fintech; A new co-petitive eco-system starts emerging within the financial sector
The Data Rotonde is a flexible and scalable MDM platform that provides PostNL customers with party data that is of a high quality standard. PostNL have created a digital platform called the Data Rotonde that provides party data as a set of service products to their customers real time.
Presented by Mario Suykerbuyk, CIO- PostNL and Frank Hewett, Capgemini at Informatica World 2016.
Bekkozha Muslimov presented on fintech trends and investments at the Cass Business School conference. He discussed how loss of trust in banks, rising expectations of consumers, the influence of millennials, new technologies, and regulation have created conditions for change and disruption in the financial services industry. Muslimov also reviewed key fintech verticals such as lending, payments, and blockchain that have seen significant investment and growth, and how both startups and traditional banks are responding to these trends through partnerships, acquisitions, and launching their own innovations.
The document outlines 6 of the hottest fintech trends to look out for in 2017:
1) Increased use of artificial intelligence and predictive analytics by fintech companies.
2) Growing popularity of mobile transactions using just a phone number.
3) Less need for cash and cards as contactless payments from phones increase.
4) Improved security through biometric authentication like fingerprints and facial recognition.
5) Rising adoption of cloud technology by businesses and fintech innovators.
6) Faster payments and more innovative solutions as traditional models are disrupted.
Markets are changing and so are the people who use them! Digital money makes sense as it provides liquidity like cash. Banks will become irrelevant as more boutique providers emerge. Most unlikely companies will provide banking services. We will all be replaced with robots and code?
A look inside the top 4 trends driving the FinTech industry today. How technology is impacting financial services and how they can benefit from advanced data analysis. Presented by Peter Huang, Director of Data at Beyondsoft.
Thousands of Employees, Millions of Devices, Billions of Things – Welcome to ...Capgemini
The Internet of Things is a network of connected devices fast becoming pervasive. These devices are bringing fundamental changes in the way business is done today; along with organization's internal processes and its digital strategy. These changes have already spurred a new wave of innovation and efficiency.
As the technology evolves, businesses should develop the ability to separate the true game changers from the hype and be prepared for a world where the number of things to be managed increases by an order of magnitude.
This presentation introduces the capabilities and imperatives that organizations need to advance.
Presented at Mobile World Congress 2015 by Simon Short.
Embedded Finance intro presentation - Simon Torrance August 2021Simon Torrance
What is Embedded Finance, how does it work, why is it important, who benefits, what do brands and companies in all sectors need to consider if they want to take advantage of it?
The future of insurance distribution: New models for a digital customerAccenture Insurance
This report argues that incumbents need to embrace digital disruption, form partnerships and adopt innovative technologies to improve customer engagement and create new opportunities for growth. It introduces five new distribution models that insurers should consider, as well as six ‘lenses’ through which they can be evaluated.
Your insurance clients know that far-sighted players are already confronting the future of insurance distribution. Use this report to help them assess their options.
This is an update to an in-depth analysis of the Internet of Things (IoT) published by SVB Analytics in 2013. IoT refers to everyday objects — like cars, food, pets and toys — that are connected to the Internet via smart chips which sense and share information about themselves and their surroundings. The report was developed as part of our strategic advisory service, which provides investors and entrepreneurs with an assessment of a company's value in support of acquisitions, mergers, investments, and other strategic financing activities.
The Singapore FinTech Consortium - Introduction to InsurTechFinTech Consortium
When you hear of “insurance”, the words “innovation” and “technology” would not come to mind intuitively – but they should now. At this day and age, insurance technology has the potential to affect nearly every essential insurance function, ranging from distribution methods to actuarial number crunching. InsurTech is now being implemented across every stage of the insurance value chain.
InsurTech 2016 Conference is a global gathering of the world's leading thinkers and doers in Insurance innovations and technology. It's a gathering of the planet's businesses, large and small, who are being impacted by new innovations to want to meet the demands of the insurance market.
This year, over 300 attendees will make the trip from all corners of the globe to hear from 80 industry thought leaders who will deliver the knowledge you're looking for to succeed in this arena.
InsurTech 2016 will assure that you meet the top insurance and technology professionals - leading 22 interactive and insightful sessions across all the insurtech spectrum, including:
Digital distribution channel
Blockchain
Data Analytics
Wealth Management
IoT & Telematics
Auto Tech
Health Tech & Wearables
Book your delegate ticket now for additional 15% Discount @ http://bit.ly/2bmXVxG
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.
This presentation examines trends and innovations in financial services (focusing on banking, insurance, credit cards).
In the last few years, the financial services industry has undergone a digital evolution. Now, it is time for a digital revolution, due to growing disruptive "Fintech" start ups and their innovative models.
Disruption in Financial Services? A Silicon Valley PerspectiveHearsay Systems
Jon Sakoda, general partner of venture capital firm New Enterprise Associates (NEA) presents his expert insight on the current and future state of tech and financial services.
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.
As we kick off 2016, what will Financial Institutions and the FinTech disruptors focus on from a payments perspective? What and who will be the winners and losers when it comes to mobile payments, mobile wallets, digital payment solutions, cryptocurrencies and blockchain? CG’s Emerging Payments Leads Jim McLeod and Sam Maule share their thoughts on these topics with David Brear, the Chief Thinker at London’s Think Different Group. Watch the full video: https://www.youtube.com/watch?v=GUnf0OtE6bI
Banking Disruption in Financial Services: Threats and OpportunitiesDogTelligent
There are three forces shaping the future of banking. Technology innovation is the first. For most traditional financial institutions -- banks and credit unions -- technology innovation is a weakness; instead, they rely on third-party firms ranging from established core providers to startups to provide them with a mix of products that they repackage and resell to their customers. Demographics is the second force. Millennials now account for 25% of the US population with 80 million and growing. The third force is the emergence of new business models on the one hand driven by Millennial demand and communication preferences, and on the other, enabled by new technologies as they are invented.
The report examines data from multiple sources and suggests potential defenses for institutions to fend off competitive threats from technology, retail, and telecom firms that are gaining traction in the payments and banking arenas.
Innovation in Insurance - necessity or luxury?Mateusz Maj
So the world is changing at bewildering speed and we are facing an economic and digital revolution. To manage that change, countries and communities need to change the way we do business and insurance industry cannot ignore these changes. Learn why.
Philippe Gelis, CEO & Co-Founder of Kantox, talking about the next 10 years in Fintech; A new co-petitive eco-system starts emerging within the financial sector
The Data Rotonde is a flexible and scalable MDM platform that provides PostNL customers with party data that is of a high quality standard. PostNL have created a digital platform called the Data Rotonde that provides party data as a set of service products to their customers real time.
Presented by Mario Suykerbuyk, CIO- PostNL and Frank Hewett, Capgemini at Informatica World 2016.
Bekkozha Muslimov presented on fintech trends and investments at the Cass Business School conference. He discussed how loss of trust in banks, rising expectations of consumers, the influence of millennials, new technologies, and regulation have created conditions for change and disruption in the financial services industry. Muslimov also reviewed key fintech verticals such as lending, payments, and blockchain that have seen significant investment and growth, and how both startups and traditional banks are responding to these trends through partnerships, acquisitions, and launching their own innovations.
The document outlines 6 of the hottest fintech trends to look out for in 2017:
1) Increased use of artificial intelligence and predictive analytics by fintech companies.
2) Growing popularity of mobile transactions using just a phone number.
3) Less need for cash and cards as contactless payments from phones increase.
4) Improved security through biometric authentication like fingerprints and facial recognition.
5) Rising adoption of cloud technology by businesses and fintech innovators.
6) Faster payments and more innovative solutions as traditional models are disrupted.
Markets are changing and so are the people who use them! Digital money makes sense as it provides liquidity like cash. Banks will become irrelevant as more boutique providers emerge. Most unlikely companies will provide banking services. We will all be replaced with robots and code?
A look inside the top 4 trends driving the FinTech industry today. How technology is impacting financial services and how they can benefit from advanced data analysis. Presented by Peter Huang, Director of Data at Beyondsoft.
Thousands of Employees, Millions of Devices, Billions of Things – Welcome to ...Capgemini
The Internet of Things is a network of connected devices fast becoming pervasive. These devices are bringing fundamental changes in the way business is done today; along with organization's internal processes and its digital strategy. These changes have already spurred a new wave of innovation and efficiency.
As the technology evolves, businesses should develop the ability to separate the true game changers from the hype and be prepared for a world where the number of things to be managed increases by an order of magnitude.
This presentation introduces the capabilities and imperatives that organizations need to advance.
Presented at Mobile World Congress 2015 by Simon Short.
Embedded Finance intro presentation - Simon Torrance August 2021Simon Torrance
What is Embedded Finance, how does it work, why is it important, who benefits, what do brands and companies in all sectors need to consider if they want to take advantage of it?
The future of insurance distribution: New models for a digital customerAccenture Insurance
This report argues that incumbents need to embrace digital disruption, form partnerships and adopt innovative technologies to improve customer engagement and create new opportunities for growth. It introduces five new distribution models that insurers should consider, as well as six ‘lenses’ through which they can be evaluated.
Your insurance clients know that far-sighted players are already confronting the future of insurance distribution. Use this report to help them assess their options.
This is an update to an in-depth analysis of the Internet of Things (IoT) published by SVB Analytics in 2013. IoT refers to everyday objects — like cars, food, pets and toys — that are connected to the Internet via smart chips which sense and share information about themselves and their surroundings. The report was developed as part of our strategic advisory service, which provides investors and entrepreneurs with an assessment of a company's value in support of acquisitions, mergers, investments, and other strategic financing activities.
The Singapore FinTech Consortium - Introduction to InsurTechFinTech Consortium
When you hear of “insurance”, the words “innovation” and “technology” would not come to mind intuitively – but they should now. At this day and age, insurance technology has the potential to affect nearly every essential insurance function, ranging from distribution methods to actuarial number crunching. InsurTech is now being implemented across every stage of the insurance value chain.
InsurTech 2016 Conference is a global gathering of the world's leading thinkers and doers in Insurance innovations and technology. It's a gathering of the planet's businesses, large and small, who are being impacted by new innovations to want to meet the demands of the insurance market.
This year, over 300 attendees will make the trip from all corners of the globe to hear from 80 industry thought leaders who will deliver the knowledge you're looking for to succeed in this arena.
InsurTech 2016 will assure that you meet the top insurance and technology professionals - leading 22 interactive and insightful sessions across all the insurtech spectrum, including:
Digital distribution channel
Blockchain
Data Analytics
Wealth Management
IoT & Telematics
Auto Tech
Health Tech & Wearables
Book your delegate ticket now for additional 15% Discount @ http://bit.ly/2bmXVxG
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.
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
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
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
How can data empower next generation FinTech and eCommerce?Charles Mok
This document discusses how data and new technologies can empower next-generation FinTech and eCommerce. It outlines how companies in these sectors are using big data, predictive analytics, personalized recommendations, and other innovations to improve customer experiences and outcomes. The document argues that Hong Kong has strong potential for FinTech and eCommerce success if it fosters effective competition, supports a regulatory sandbox, and adopts holistic policies around areas like talent, infrastructure, data access, and innovation-friendly regulations.
Covid-19 Impact on Fintech and 2021 TrendsDevie Mohan
This document summarizes fintech trends in 2020 and beyond. The COVID-19 pandemic accelerated digital adoption, with online shopping and payments increasing significantly. Challenger banks faced difficulties while traditional banks improved their digital offerings. Regtech saw increased investment in KYC, AML, and compliance tools. BigTech companies expanded into financial services through partnerships and own offerings. Going forward, technology adoption will remain important, especially for SME support, cashless services, and enabling social distancing in business operations.
This report summarizes how Innovative technologies are disrupting the financial industry and how organizations can leverage them to their advantage.
It is a must read for senior executives in banks and other financial service providers (FSPs).
This document provides an agenda and background information for a MERGE briefing that will take place in Paris on March 28. The briefing will include presentations from two speakers, Corum Speakers and Bruce Milne, on topics such as disruptive technology trends, M&A activity and valuations, and achieving optimal outcomes in deals. It also lists partial sponsors and provides an agenda that will cover market perspectives, top 10 disruptive trends, M&A factors, and lessons for closing deals. Recent Corum transactions examples and public company valuation multiples for various technology sectors are presented.
The document discusses the rise of financial technology (FinTech) companies and their potential impact on traditional banks. It notes that while over 2000 FinTech startups have emerged globally since 2015, focusing on niche elements of transactions, only a small number have survived as stand-alone entities. While FinTechs introduce more efficient and automated alternatives, fully disrupting banks will be difficult due to their established brands, expertise, and role in economic growth. The document concludes that long-term success will require a combination of market insight, experience, and partnerships between FinTechs and traditional banks.
Webinar: Digital Marketing in China - Compare, contrast, and learn?The Digital Insurer
Digital marketing in China-
Compare, contrast & learn?
18th march, 2021
The document discusses digital marketing trends in China, including the rise of live streaming and social media platforms like WeChat for marketing. It highlights tools like live streaming, short videos, and messaging as effective digital marketing approaches in China. Industry perspectives on opportunities in digital transformation and the importance of trust in digital marketing are also covered.
The document discusses digital banking maturity in Europe. It finds that few banks have succeeded in becoming "digital champions" by offering a wide range of functionalities relevant to customers through digital channels and providing a compelling user experience. The document analyzes data on over 8,000 customers across Europe to determine preferred banking activities and channels. It identifies 826 digital functionalities and groups banks into four categories of digital maturity based on functionality, user experience, and market pressure. Digital champions are found to have higher market pressure that drives their superior digital offerings, while digital latecomers have less market pressure.
Digital, Data & Analytics, Disruption in DealsAnand Rao
Presentation at the PwC Midwest Deals Summit by Dr. Anand Rao, John Sviokla and Andrea Fishman.
The presentation looks at impact of digitization, data and analytics and the disruption they cause in retail, healthcare, agribusiness, and financial services. We look at how this is leading to more deals across the spectrum from large M&A's to private equity to venture capital
Fintech in insurance. Focus on RoboAdvice - Changing the face of wealth management landscape on back of trend of “self-service”, disintermediation, automation spurred by the internet.
This document provides an overview and summary of a webinar on implementing endless aisle technology. It discusses 5 key steps to implementing endless aisle solutions: 1) blending physical and digital experiences for customers, 2) digitally extending stores' inventory availability, 3) saving sales through endless aisle solutions, 4) maintaining brand consistency, and 5) optimizing product merchandising using shopper data. The document also provides background on the speakers and outlines for upcoming webinar sessions.
FinTech can play the role of facilitator for the elderly population who is inept with the modern technology and digital solution. Check out this PPT on how Fintech testing supports this facilitation.
"Ready or Not, Here Comes 2015: Marketing Trends to Master" TrendLab WebinarBluespire Marketing
During this BlueSpire TrendLab Webinar, our senior living, healthcare and financial services experts dive into the most relevant marketing trends and analyze what to look for in 2015.
Main themes of the webinar included:
•What global trends will have the most impact next year and how those trends will affect brand building and the overall customer experience.
•Changes in marketing staffing and spending, what should be on your radar regarding big data and analytics, and the importance of Web personalization.
• Effectiveness of branded videos, the accelerating trend of sharable and snackable content, and mapping content appropriately to your consumer’s journey.
Veber FinTech Vs Banking consumer reportMarie Johnson
The Veber FinTech Consumer Survey was based on discovering user perceptions of Banking, a once stable and traditional industry landscape, in comparison to what we’re now seeing which is the ever changing innovative FinTech market. The survey focusses on the trends of FinTech and whether the face of traditional banking will change by 2020.
The white paper also includes video extracts from leading FinTech experts and an exclusive interview with
George Huntley, COO The Money Platform. George gives an in depth account of his FinTech startup journey and his views on the Banking industry and the rise of FinTech.
The Digital Disruption of Financial ServicesTony Moroney
Financial services must adapt; quoting from Leading Digital Transformation, its about "the adaptations a business makes to be competitive in a digitalized world". It's the C-suites job!
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.
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.
“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
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?
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.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
3. There is significant disruption within the Wealth Management
industry. New ways of delivering advice continue to emerge, and
competitive positions will erode while others will strengthen, creating
winners and losers across the industry.
Wealth Management firms must strategically evolve to adapt to
these critical shifting dynamics.
Shifting dynamics
Source: Deloitte
4. Impact on other industries
* Source: IMRG Capgemini eRetail Sales Index
24% of retail sales now
take place online*
£114bn
UK ecommerce sales
6. But…
Let’s not forget existing capabilities
• RPQ
• Lifetime cash-flow analysis
• Product sourcing
• Suitability reports
• New business & trading
• And more…
• Video conferencing (Skype)
• Client portal
• Secure document exchange
• Consumer driven calculators
• Online fact-find
• And more…
Streamlining the process More efficient delivery
7. Data aggregation
What FinTech innovation would
people most like to see in the future?
IRESS Data, Disruption and the Digital Consumer report (iress.com).
The ability to view their financial world - bank accounts,
mortgages, investments, insurance - in one place.
23%
8. Pensions dashboard
47% not confident how much their pension is worth.
Source: Which?
“The concept is so compelling that it is already
an established part of the pensions industry in
other countries. Savers in Denmark, Sweden
and the Netherlands all have access to a
dashboard of some sort.”
Darren Philp, The Peoples’ Pension
9. Digital passports & data vaults
A third of people would save or invest more if it was easier to transfer
money and open saving or investment products.
Source: TISA
• Barclays
• CitizenSafe
• Digidentity
• Experian
• Post Office
• Royal Mail
• SecureIdentity
• Verizon
Certified companies
• Your online assured identity
• Already an option for
accessing UK Gov’t services
10. Digital advice
Life Co’s and asset managers making major investments.
ABERDEEEN ASSET
MANAGEMENT
Acquire Parmenion
BLACKROCK
Acquire FutureAdviser
INVESCO
Acquire Jemstep
SCHRODERS
Takes stake in Nutmeg
LV=
Takes stake in Wealth
Wizards
FIDELITY
Fidelity acquire
eMoney Advisor
11. Digital advice
In a recent webinar, IRESS asked advisers what they thought about
robo-advice:
65% 9% 23%
Opportunity Threat Undecided
2016: A Robo Advice Odyssey available on YouTube
12. Digital advice
What is ‘Robo-Advice’?
Stuff & Nonsense! Real challenges
Who cares?
Many will try - many will fail
Application technology to ‘self-led’ advice
Consumer engagement
Client acquisition
Consistency across channels
Compliance
Proposition
14. Dispelling the age myth
IRESS Data, Disruption and
Digital Consumer report
• Little difference in tech usage between age groups
• Biggest difference between income groups
• The higher the income, the more likely to access
current affairs information daily online
15. Who will use robo?
Source: CFA Institute (Fintech Survey April 2016)*
Ultra High
Earners
21%
Institutional
Investors
24%
High Net
Worth
41%
100
80
20
40
60
Other
Investors
67%
Investors positively affected by automated advice tools*
Mass
Affluent
70%
16. Who will use robo?
Market
Fraud
37%
Quality of
Service
37%
Product
Choice
55%
100
80
20
40
60
Access to
Advice
62%
Consumers positively affected by automated advice tools*
Costs
89%
Source: CFA Institute (Fintech Survey April 2016)*
17. Segmentation
Categories Dimensions
Primary channel preference
Price sensitivity
Financial literacy
Life stage / Life events
Peer-group & influencers
F2F Phone Online
Lo Hi
Lo Hi
1st job 1st child 1st property Retirement
Friends & family Colleagues Social media
19. Creating a technology roadmap
• It’s not going away!
• Segment and design accordingly
• Expect an omni-channel world
• Become the point of client data aggregation
• Encourage client access
20. Creating a technology roadmap
Adapt your
proposition suite
Automated advice
(robo advice),
omni-channel
3
Transform your
operations
Workflow, process
reengineering, online portals,
lower cost servicing,
automating compliance
2
Improve your client
experience
Consistent, seamless
experience; visually stunning,
easy access to their provider
1
Underpinned by a digitised omni-channel platform