Blog Articles
The Hybrid Wealth Business: Focus on Technology
Modern technology has enabled self-service wealth management where end-customers can investigate, learn and make decisions about their financial situation. This marks the beginning of the democratization of the industry, where seamless guidance through the intricacies of personal finances is available for those who would not previously have the privilege of using the services of a financial advisor. However, combining technological advancements and the human-led service of a financial advisor in many cases leads to a better experience. This effect is achieved through empowering an expert with the tools that help them improve the quality and content of their work to levels previously unachievable. At Kidbrooke, we provide technology enabling financial advisors to build trust and truly future-proof their business models without losing the human connection. In this article, we describe two important elements of the customer experience that a hybrid model could add to any modern physical advisor’s arsenal:
How to Avoid Legacy Traps When Building Digital Wealth Services
Wealth managers often build customer journey islands when introducing a new service or feature. Opting instead for use case-agnostic technology that supports all components of the organization’s strategic roadmap can grant a financial institution the necessary flexibility to achieve a strategic freedom to innovate.
From Digital First to API First: Benefits for Financial Institutions
The race for financial institutions to go digital, digitise their legacy systems or be “digital first” shows no sign of letting up. Customers expect a seamless journey and internal stakeholders will only invest in technology that is robust, cost-effective, secure and extensible into the future. What does extensible mean? In the world of programming, it refers to a language, a system that can be changed by being extended or adding features. In other words, you don’t want to invest in technology that is static or fixed, because it will become obsolete. Can adopting APIs before you transform your entire technology infrastructure to a digital operation give you a competitive advantage?
Fast and slow data: How to enable fast, interactive customer journeys based on slow mathematical models
When it comes to digital journeys, one characteristic defines quality beyond industrial specifics: speed. While rule-based apps or websites are relatively easy to keep lean and quick, the financial industry may be the area where the speed of underlying calculations could be an issue. Unlike e-commerce or media, the digital and physical solutions provided by the financial sector are riddled with computationally heavy models trying to grasp the uncertainty of real-world economies. The more granular and elaborate the underlying model is, the more realistic and accurate its results are. Does it mean that the financial institutions will have to compromise on quality to deliver fast solutions? Today we have spoken to Erik Brodin, an ex-McKinsey quant expert at Kidbrooke, who doesn’t believe a compromise is necessary.