1. “ROBO ADVISORY to CRYPTOCURRENCY to CHATBOTS”
Disruption & Innovation at its Finest
2. The BFSI Industry increasingly recognize that their industry will be
transformed by automated core functions run by software that
continually learns and improves through Artificial Intelligence (AI)
3. Incumbent financial services companies
20
40
60
80
100 80% say business is
at risk to innovators
56% consider disruption to be
at the heart of their strategy
82% plan to grow Fintech
partnerships in the next 5 years
“The Pulse of Fintech, Q3 2016,” KPMG, 2016, “The Need for Speed: 2016 Banking Industry Outlook Survey,” KPMG, 2016 ,
"Redrawing the Lines: Fintech’s Growing Influence on Financial Services,” PwC, 2017
4. 86% Banks say widespread use of AI will provide competitive advantage
30% Large financial companies investing in AI
“Intelligent Automation: The Essential New Co-worker in Digital Banking,” Accenture, 2016, “Redrawing the Lines: Fintech’s Growing Influence on
Financial Services,” PwC, 2017, “Accenture Banking Technology Vision 2017,” Accenture, March 2017
5. The future is when computer is working
with cognitive computing artificial
intelligence to automate customer
support and service
How AI is transforming BFSI Companies
6. Chatbots…. Personal assistants…. Robo-advisors…. Machine learning.
…Cognitive computing. And so much more….
“The digital revolution that once emerged in the music and media world is
increasingly dominating the financial industry”
8. Robo Advisor- Key Enablers
A Robo Advisor provides automated investment advisory and portfolio management
services with minimal, if any, human interaction.
• Shrinking pool of qualified financial advisors
• Growing demand for advise by customers
• Growing “advise gap” in mass affluent market
• Digital Adaption of the consumer market
• Increased use of Technology by the advisors for advise and execution
• Influence of Social Media on consumers- POWER OF THE MASS
• Consolidation and Centralization of advisory services and programs
9. Areas of Growth in ROBO ADVISORY
Advisory opportunities:
• Holistic goal & financial planning (retirement, insurance, tax)
• Transfer of wealth to the younger generation
• Online interaction with Robo Advisor (chat, voice, video)
Product opportunities:
•Access to alternative asset classes
•Active portfolio management
•Customisation and personalisation at the securities level
•Advanced analytics and individual recommendations
“Mass-affluent and affluent customers will likely be served by fully automated advice, offering
limited revenue opportunities, but generating a huge amount of valuable data”
“We believe that ultra high net worth customers will be served in a hybrid
model combining automation with access to a human advisor.
10. Robo Advisor- Industry Impact
• Increased Fee Pressure- Bringing Scale at lower cost
• Controlled Advise to the Client-No scope of wrong selling
• Pressure to manage Tech Savvy Customers
• Multiple Channel of Engagement- Online, Chat, Video Conferencing
• Access to Data- 360 Degree View, Comparison with peers, Advanced Investment
Analytics & Data Massaging, AI Driven Data for deeper and informed investment
decisions and analysis
11. What does the Robo Advisor trend mean for banks and asset managers??
• Banks can leverage digital automated platforms to offer a low cost investment
service. The depth of a solution can of course be customised depending on the
customer segment.
• Digitalisation is an important driver of growing ETF adoption by retail investors.
ETFs and ETF-based portfolios are well matched to the growing trend toward
automation of advice and finance more broadly.
• Robo advising platforms can support compliant and optimised investment and
rebalancing proposals based on the customer’s portfolio and preferences
• Generating important data about clients and their behaviour which supports the
overall servicing of both an individual client and their peer group.
“Accenture believes that traditional commercial banks could lose about 35%
of their market share to online banking and other digital financial
“service providers by 2020
12. What are Chatbots?
Chatbots are artificial
intelligence computer programs
designed to behave like
humans that you can interact
with, in order to get information
or get things done.
13. Types of Chatbots?
Question & Answer
Info Bots
QA Bots
Process &
Transactional Bots
PB Bots
Sales & Customer
Engagement Bots
SE Bots
14. Customer Segments Addressed by Chatbots
Millennial
Mass
Affluent
Seasoned
Investor
Others - HNI,
UHNI
for proactive and
improved service
For Tech Savvy
Millennials
For Existing
Investors / Broad
Critical Mass and
Audience/
Remote Locations
For time scares
mass affluent
investors
15. Bots are here to stay to take over
critical functions
Bots will transform
investors
communication and
portfolio management
Finding the right
partner is key for a
successful ChatBot
Strategy
Key Considerations for your ChatBot Strategy
16. Rise of a New Asset Class - Cryptocurrency
• A cryptocurrency is a digital or virtual
currency that uses cryptography for
security
• Creating Digital assets is today an Integral
part of Investors Portfolios
• Clients are today considering raising funds
through tokenization and creation of digital
assets
• World-class strategic investment banking &
financial advisory services in token-based
financial markets and digital
17. • Creating Digital assets is today an Integral
part of Investors Portfolios
• Clients are today considering raising funds
through tokenization and creation of
digital assets
• World-class strategic investment banking
& financial advisory services in token-
based financial markets and digital
• 1169 Cryptocurrencies/ 5776 Markets &
Growing
• Alternative Money Systems has gained
acceptance
Rise of a New Asset Class - Cryptocurrency
22. Overview
170 Employees, 100+ enterprise clients globally
Global expansion servicing clients in 20+ countries
Well respected & established Software provider since 1993
Benchmarking with best practices for all processes
ROI Driven Approach
Domain driven and experienced professionals
23. OurGlobal Client Base
A PartialList
Banks / Trusts/ Discount
Houses
Investment Portfolio,
Fund Management,
Pension Funds
Insurance Companies Non Banking Finance
Companies & Corporates
34. Reference Articles in leading publications by Akash Anand
• Blockchain is Next Technology Phase in Investment Management- May 2017 Issue
http://www.islamiceconomist.com/?author=35
• Blockchain is Next Technology Phase in Investment Management- ISFIRE- October 2017
Editor's Notes
CC is the simulation of human thought processes in a computerized model.CC involves self-learning systems that use data mining, pattern recognition and natural language processing to mimic the way the human brain works.
This is a subset of A.I. that deals with cognitive behaviors we associate with 'thinking' as opposed to perception and motor control.
While the term artificial intelligence (AI) has been around for 60 years, it has finally become part of our daily lives—and how we bank, invest, and get insured. Some financial institutions have been investing in AI for years. Other firms are now beginning to catch up thanks to advances in big data, open-source software, cloud computing, and faster processing speeds.
While the term artificial intelligence (AI) has been around for 60 years, it has finally become part of our daily lives—and how we bank, invest, and get insured. Some financial institutions have been investing in AI for years. Other firms are now beginning to catch up thanks to advances in big data, open-source software, cloud computing, and faster processing speeds.
We are already seeing
robo advisors joining forces with traditional advisors or the outright
acquisition of robo advisors by traditional players. The next phase
would be mergers between robo advisors to achieve scale.
Robo advisors need to move beyond basic asset allocation and
attract clients other than millennials. In addition, they will have
to differentiate from other robos and the offerings of incumbent
offline players. Besides providing an excellent user experience,
differentiation can be driven by product or advisory opportunities
The digital revolution that once emerged in the music and
media world is increasingly dominating the financial industry
as well. Consumers and investors are increasingly familiar with
digital offerings, whether it comes to cashless payments, loans
via online platforms or digital financial advice. Banks, asset
managers and other financial service providers have to respond
to this increased demand by expanding their digital capabilities.
The digital revolution that once emerged in the music and
media world is increasingly dominating the financial industry
as well. Consumers and investors are increasingly familiar with
digital offerings, whether it comes to cashless payments, loans
via online platforms or digital financial advice. Banks, asset
managers and other financial service providers have to respond
to this increased demand by expanding their digital capabilities.
Chatbots as a means of customer interaction are taking the banking sphere by storm with more bots being launched every week. Established financial institutions, mostly in the retail-banking sector but also in the investment management and wealth management sectors, are jumping on the wagon and experimenting with bots
QA
Answers questions about your business or organization
Engages your customers and visitors
Optimal solution for answering redundant questions on your support channels
PB
Answers questions about your business or organization
Takes user through a predefined process
Optimal solution for engaging users in a step-by-step process like filling application, or a simple transaction
SALES & CUSTOMER ENGAGEMENT
Answers questions about your business or organization
Takes user through a predefined sales or service process
Engages users in online sales process by providing products/services search and information
Optimal solution for engaging users in the online sales process of your business through their entire customer journey
BOTS ARE HERE TO STAY AND ARE ALREADY ABLE TO TAKE OVER CRITICAL FUNCTIONS
bots will replace conventional online interfaces like websites or mobile apps to a substantial degree across financial sector
BOTS WILL CHANGE AND ENHANCE THE CLIENT INTERACTION AND COMMUNICATION
Banks and wealth managers should make sure that bots are available on different platforms, such as the website/apps in addition to a public platform like Facebook criteria
FINDING THE RIGHT PARTNER AND TOP SECURITY ARE KEY ELEMENTS OF SUCCESSFUL CHATBOTS STRATEGY
Banks and wealth managers should make sure to find the right implementation partner who is not
only able to provide excellent user experiences but is also able to deliver the right chatbots for each
target audience with deeper understand of the business and technology around these businesses
A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
Key Facts:
Creating Digital assets is today an Integral part of Investors Portfolios
Clients are today considering raising funds through tokenization and creation of digital assets
World-class strategic investment banking & financial advisory services in token-based financial markets and digital