Posts Tagged ‘Finance’

Money20/20, the world’s largest conference geared towards the financial services industry, brought big announcements from heavy hitters at its 2016 event. Bank of America’s head of digital banking, Michelle Moore, introduced Erica (a play on the company’s name), a digital assistant driven by artificial intelligence, predictive analytics, and cognitive messaging. The technology, which can also […]

In an effort to create more competition in the financial services industry, give consumers more control over their data, and enhance consumer protection, new regulations, such as the revised Directive on Payment Services (PSD2), have been adopted in Europe. Some companies, such as BBVA, were early adopters of technology (e.g., APIs) that opened access to […]

Financial services executives are likely tossing and turning at night, thinking about the shift to digital, stringent regulations. As the Financial Times reported: “Bank bosses perhaps are worried most about not being publically humiliated by a failing grade.” We at Perficient know this first-hand, as we regularly advise financial institutions on how to better measure […]

Tax season is here. Many of us are in the midst of scrambling to collect the tax forms that arrive via snail mail and electronically. Once we believe we have all the forms that are required to complete our taxes, we log into one of the myriad tax preparation software applications on the market, send […]

“What’s new?” is an interesting and broadening eternal question, but one which, if pursued exclusively, results only in an endless parade of trivia and fashion, the silt of tomorrow. I would like, instead, to be concerned with the question “What is best?”, a question which cuts deeply rather than broadly, a question whose answers tend […]

Yesterday, President Donald Trump signed an executive order that is aimed at reducing regulation across all industries. Part of his push, which has been framed to help small and large companies alike, requires departments and agencies to “identify at least two existing regulations to be repealed” for every new one proposed. When it comes to […]

While we can’t always be certain which trends the new year will bring, we can offer predictions based on our conversations with industry executives and our customers, looking at what companies have accomplished in the past year, and the initiatives they already have in place for the future. In fact, that’s exactly how we compiled […]

A recent Financial Times article discussed how Admiral, a UK-based insurance company, was planning to leverage Facebook data to offer policy discounts. “The way you write and the things you post online are shaped by your personality,” an Admiral employee said. “An overconfident person will use phrases such as ‘always,’ ‘never,’ and exclamation marks rather […]

My colleague recently sent me an article that discusses the financial security, or lack thereof, of Americans. And that’s very troubling. The problems we face today are, indeed, different than yesterday. Take for example the fact we’re living longer, albeit with health issues, such as Alzheimer’s. Or, take America’s Social Security retirement trust funds into […]

There’s no question that the core function of managing money in a heavily regulated industry is difficult and expensive. New companies with robo-advising technology will need to learn how to navigate the regulatory landscape, making it critical to collaborate with traditional wealth management firms. From a bank’s perspective, robo-advising remains critical in terms of servicing […]

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 […]

Robo-advising will likely never take over wealth management, but there are certain elements it could replace. For example, tax-loss harvesting and digital account opening can be streamlined through technology and automation. Any tasks that serve as barriers to receiving services should be accomplished by machine. Financial advisors should instead do more of what they do […]