Robo Advisors Konferenz 2018 - Luxemburg

[Translate to English:] Skyline Luxemburg - Robo Advisors Konferenz - aixigo
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The economic environment continues to bring great uncertainty. Regulatory requirements are evolving, while customers are demanding greater personalisation combined with excellent customer service. In addition, technological innovation is challenging traditional business and delivery models and at the same time leading to another series of demanding competitors. The example of a Swiss private bank shows how modern software can be used to maintain or expand a strong position as a bank or financial services provider in Europe despite these challenging conditions. By using the right software platform to create a transformation process for automating and digitising financial investments. Our presentation showed how technology enables financial institutions to offer digital "value-added services" (e.g. monitoring, timeline services, etc.) in client segments that have not experienced this before.

In the UK, for example, an impact of these conditions is what many refer to as the 'advice gap'. It inevitably arose because many banks and financial advisors no longer offer services to people with less than £100,000 investment volume. The core argument is that within the current climate the cost of looking after these clients has simply become too high.

With increasing regulatory requirements, the minimum investment volume has therefore risen because advisors are confronted with higher costs. As a result, a large part of the population with smaller investment volumes has no access to qualified financial advice. In the UK, an advisor now has to serve 2,700 clients.

This is precisely the "Advice gap" that was the subject of our lecture in London. We were able to show that with the aixigo software platform this gap can be closed efficiently with technology.

aixigo uses its digital API wealth management and investment advisory platform as the basis for financial institutions to be able to offer digital value-added services in the branch and via mobile devices, including voice interfaces, in an attractive and cost-efficient manner. Over 100 API-based services are currently available. The API can provide large amounts of data as raw material for legacy systems and refine them quickly and flexibly on a large scale. This makes information more accessible for customer systems - regardless of which core banking system forms the basis.

For the provision of digital banking services, speed, mass suitability and flexibility are becoming increasingly important. This is particularly true for the areas of wealth management and investment advice. Why? Because in the digital age, the attention span of clients continues to decline. So the goal must be to get at least two minutes of attention from the client every day. You can only achieve this if you can offer relevant information extremely quickly, digitally and attractively. In the end, the banks will also benefit greatly from this. You meet customer expectations in the digital age and at the same time reduce costs per customer, despite the increased expectations of a real customer experience. This in turn means that customers are more willing to pay despite regulatory requirements and cost transparency. At the end of the day, the goal is for the bank to become an integral part of a customer’s daily digital habits.

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