Posts Tagged ‘Financial Services’

If you work in financial services, you may have noticed that your executives aren’t getting enough sleep. They’re most likely tossing and turning at night, thinking about the shift to digital, stringent regulations, and, as The Financial Times recently said: “Bank bosses perhaps are worried most about not being publically humiliated by a failing grade.” […]

As much as they are disruptors of sorts, traditional banks view robo-advisors as healthy. They represent a challenge for incumbents, one that will ultimately result in better customer experiences. Financial institutions believe that the foundation of what they do is not going to go away; however, it puts pressure on them to focus on the […]

The benefits of robo-advisors are clear: trustworthy and affordable financial advice for everyone, regardless of net worth. Although some may debate what role robo-advising will play in wealth management, we’ve reached a point where it’s hard to imagine a world without it. Ever since the evolution of the internet and the widespread adoption of digital […]

While your clients may have never obtained advice from traditional wealth management companies, the times are changing through the introduction of robo-advisors. Unlike traditional human-to-human financial advice, robo-advisors provide personalized, automated financial advice based on algorithms. They work without the need for human intervention, making such advice cost-friendly and ultimately eliminating common high-net-worth membership figures. […]

According to Investopedia, wealth management is a “service that combines financial/investment advice, accounting/tax services, retirement planning, and legal/estate planning for one fee.” While that definition is an oversimplification of the term, it’s safe to say that wealth management has historically been a service for high-net-worth individuals. For purposes of our conversation, note that Investopedia indicates […]

The wealth management industry is undergoing a serious transformation with traditional methods of providing financial advice being disrupted by new and innovative forms of technology. With the unprecedented widespread adoption of the internet and digital devices, customer expectations have changed. Clients expect a flawless customer experience that requires businesses, products, and services to be available whenever and wherever they want. It’s that simple. Companies […]

A couple of weeks ago, I shared a brief overview of a new rule the U.S. Department of Labor (DOL) recently finalized. While it’s certainly nothing to laugh about, comedian and host of “Last Week Tonight with John Oliver” the man himself, John Oliver, was able to make light of it. In fact, as of […]

There are many ways to bank. You can call your financial institution on the phone, go to the nearest brick-and-mortar branch, or hop online. While these are the most traditional ways of banking, there’s another option that’s quickly growing in popularity: mobile apps. As we mention in one of our guides, mobile banking raked in […]

Every industry experiences cybercrime, but probably none more than financial services, at an average annualized cost of $13.5 million. If you look at the Breach Level Index, you will notice that some type of security breach occurs at financial institutions almost daily. These breaches can involve anywhere from a handful of records to tens of […]

As a long-time customer of Vanguard, I can attest to their great way of doing business. While I’ve never set foot into an office of theirs, the financial services company – one of the world’s largest investment management companies – was able to gain my trust and, without much effort, convince me to enlist them […]

As I mentioned in a previous blog post, Michael Porter, a colleague of mine, was live-blogging at last week’s Forrester CXNYC event, a conference for customer experience leaders, innovators, and practitioners. During one of the presentations he attended, George F. Colony, the CEO of Forrester, discussed how customer experience has become the most critical barrier […]

There’s no question that financial institutions need cutting-edge technology to support growth. However, there is also no question that technology is not their core business. Therefore, it makes sense for them to partner – or even acquire – financial technology companies, which brings us to the topic of unicorns. What do unicorns have to do […]