ING is really flexing its digital muscle. Last week, the company announced that it launched Yolt, a free mobile app that allows UK consumers to manage their money across various banking institutions. According to the app’s website, Yolt aggregates a user’s bank and credit card accounts, and provides a dashboard that: Instantly shows you how […]
Posts Tagged ‘Financial Services’
[Video] A Look At Bank of America’s New Chatbot And ATM
Money20/20, the world’s largest conference geared towards the financial services industry, continues to generate big announcements from heavy hitters. Just yesterday, Bank of America’s Head of Digital Banking, Michelle Moore, introduced us to Erica (a play off the company’s name), a digital assistant that is driven by artificial intelligence, predictive analytics, and cognitive messaging. The […]
Ally Financial Placed 100 Pennies Worth $1,000 Each Across 10 Cities
Ally Financial, a top 25 U.S. financial holding company, launched a clever multichannel marketing campaign that aims to make consumers think differently about money. Ally placed 100 pennies in plain sight across 10 cities, each of which can be redeemed for $1,000. The company developed a website that allows passersby to enter the code they […]
Ensuring A Bright Financial Future In An Aging World
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 […]
Future Of Robo-Advisors
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 […]
World View Of Robo-Advisors
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 […]
How to Overcome Challenges with Microservices Architecture
Microservices is a growing buzzword in the enterprise integration space – and a growing tactic as organizations work to modernize IT stacks and digitally transform business models. While microservices is a new, popular approach to integration as we move beyond SOA, it does come with many prerequisites and barriers to realizing the benefits. Join Perficient […]
Replacing Traditional Wealth Management Offerings With Robo-Advisors
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 […]
Despite Headlines, Banks Continue To Open Physical Branches
Several months ago, I mentioned how Bank of America Chairman and CEO Brian Moynihan believes that the need to be omni-channel is one of the keys to success for a bank that operates today. He said, “Despite people saying ‘I never go into a branch,’ they all do.” While there’s a lot of talk about […]
What It Costs To Comply With The DOL Fiduciary Rule
The new U.S. Department of Labor (DOL) fiduciary rule is quickly revealing itself to be the most impactful regulation in the financial services industry in a long time. The investments that companies are needing to make in order to comply with the rule, which focuses on conflict of interest, are making the impact painfully clear. […]
The Relationship Between Wealth Management Companies And Robo-Advisors
Many robo-advisors are thriving with growing customer bases. Not only are they flourishing, they’re partnering with – and in some cases being acquired by – traditional institutions that offer wealth management services. Take UBS, for example. The company’s wealth management division recently formed a strategic alliance with SigFig, a robo-advisor that will help develop solutions […]
How We Know J.P. Morgan Is Serious About The Cloud
I love headlines like this: J.P. Morgan Creates Executive Role to Lead Cloud Services. It helps me understand what’s important to a company and tells me that a company’s focus area is real. As financial services companies continue their efforts to become more efficient in a time in which regulatory demands and low interest rates […]