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Top digital tools driving future of wealth management
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cmtoo 03-Feb-20, 19:28 |
 Top digital tools driving future of wealth managementMoreover, digital processes and data analytics are allowing financial institutions to open up previously high-end products and services to a much wider customer base. This is effectively democratising and personalising banking, at the same time introducing substantial efficiencies across financial services. “Digital tools and automation are dramatically reducing the risk of human error and contributing to a more in-depth understanding of what customers want from their financial institutions,” says Avaloq group chief product officer, Martin Greweldinger. While technology is critical, it’s also important to stress large parts of the financial services sector, particularly wealth management, will remain relationship-based. The combination of robust relationships and digital models is allowing institutions to deliver a much richer customer experience and develop deeper relationships with clients. “They help provide advice to clients with lower levels of investable assets, who need simple guidance around money management. Traditionally, this has been challenging to provide in a cost-effective manner. From The Age |