Retail Banking Software

Investment in the retail banking segment holds a wealth of requirements and challenges. In addition to traditional services, investment advisory services, portfolio analysis and portfolio reporting, portfolio risk management and wealth management are becoming increasingly important for retail banking software. In business with retail customers, there is considerable competition for retail investors. The low margins in this customer segment make it necessary to gain market share in order to ensure the attractiveness of the business segment through economies of scale.

At aixigo, we have developed a map that fine-tunes all retail customers and thus defines fields of action that we can support with software. This matrix is based on our many years of experience with retail banks in the various markets.

 

Retail Banking Software for all Requirements

The matrix initially divides bank clients into self-directed customers, advisory clients and discretionary clients according to their self-image. This division expresses the degree of willingness to delegate, but also corresponds directly to the increasing earnings potential and the associated rising performance requirements. The second axis of the matrix differentiates retail customers by the preferred type of interaction into personal interaction (human-human) or technical interaction (human-machine).

Looking at the individual matrix fields in relation to customer expectations, it is possible to clearly derive the concrete requirements of retail banks for software for portfolio analysis, investment advisory software and discretionary portfolio management software for digitisation in retail banking. With its API-based software platform, aixigo offers a powerful basis for meeting these requirements for retail banking in Germany, but also the specifics of retail banking in Switzerland and the special features of retail banking solutions in the UK retail bank market.

Self-directed customers, Advisory clients & Discretionary customers


Self-directed customers
The requirements of self-directed customers for retail banking software are answered by our portfolio analysis software and our Risk Engine, which handles portfolio risk management. These two product areas enable valuable portfolio insights on demand, which, from the point of view of self-decision-makers, significantly enhance the offering and increase acquisition, commitment and willingness to pay. In this field of action, the Retail Banking Solutions from aixigo can be used to generate genuine value-added services for self-directed customers.
 

Advisory clients
Providing advisory clients with investment advice is becoming increasingly complex due to regulation. Software for investment advice can help to support advisors with personal advice or telephone advice in such a way that throughput times are short, quality high and errors and thus risk are eliminated. With this hybrid approach, the advisor ensures sales success through personal touch and empathy, while the investment advisory software concentrates on process, information and algorithms and ensures complete and plausible documentation.

Integrated into the advisory process, the portfolio analysis software offers valuable portfolio insights for advisors and clients, and the aixigo Risk Engine takes portfolio risk assessment to a new level. The degree ofautomation achieved with the investment advisory software in hybrid advisory services makes it possible to offer genuine investment advice in the digital channel, i.e. between man (customer) and machine (advisor). Even if not all advisory scenarios can yet be mapped in this way, the majority of advisory processes for small investments can already be mapped in retail banking in such a way that they are readily accepted by the customer. With aixigo's retail banking software, digitalisation in retail banking is not a dream of the future.
 

Discretionary customers
Discretionary customers are a new target group in retail banking. Driven by Fintech's development, it requires a completely new type of retail banking solution. In this segment, the requirements for portfolio analysis software, including portfolio risk management, coincide with those for wealth management software. This requirement must be met in retail banking for a much higher number of customers, i.e. industrialised, and must not become impersonal. In addition, there are the customer experience requirements that must be met in the digital sales channel in order to gain market share in retail banking digitalisation.

Financial software for Retail Banking

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