Posts Tagged ‘strategy’

Metro Bank, a financial institution that has over 40 “stores” in Britain, has officially migrated its core banking IT infrastructure to a private cloud that will be managed by Rackspace. While the bank is only six years old, it has relied heavily on systems that were on-premises. The cost of running the applications in-house were […]

ING issued an update on its strategy, which focuses on the ongoing transformation of the large global financial institution. Between 2016 and 2021, the company intends to spend close to $900 million to enhance the customer experience, boost innovation, and become more efficient, all while reducing costs for years to come. Much of ING’s plans focus […]

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 […]

A recent conversation with a prospective client of ours prompted me to write this post. The client is looking at ways to improve the adoption rate of one of its products by a specific population because, for a variety of reasons, adoption by that segment has been slower than others. The solution to challenges like […]

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 […]

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 […]

Hi and thanks for stopping by. If you’ve followed along with my previous posts on Governance you know we’ve spent some time getting our terms straight. We’ve distinguished Governance from Management and Data from Information (and Knowledge, and Wisdom). For me, one last piece of the “term puzzle” that is helpful to (finally?) begin to […]

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 […]

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 […]