Depending on where investors are located in the world, investor behavior is vastly different; therefore, robo-advising may play a different role depending on the region. Some counties are more conservative and prefer traditional forms of wealth management services, while others are much more comfortable with investing on their own. The World Economic Forum conducted research into online behavior and concluded that people who use the internet in emerging markets are much more open and willing to experiment with innovative solutions than those in developed markets.
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While geographies dictate how robo-advising is perceived, the same can be said for psychographics. Each segment of a robo-advisor’s customer base has differences in terms of engagement and conversation rates. Aside from demographics and psychographics, it’s also important to remember that industry regulations naturally play a role in the adoption of new banking technologies. The bottom line is this: companies and governments should meet the expectations of their constituents with the right products and services.
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