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Knowledge Base Articles

Evida Case Study: How to build an innovative financial advisor in under seven months?

Evida began its path as a family office managing a wide range of assets for wealthy families. Initially, the Swedish financial advisor outsourced the management of equity and fixed income positions to other parties. However, the combination of their interest for factor-based investments and dissatisfaction with wealth management services provided by the largest banks in Sweden, Switzerland and Luxembourg convinced Evida to build their own digital advisory service.

Blog Articles

Digital Transformation: Where to Start?

Today we have spoken to Fredrik Davéus, the founder and the CEO of Kidbrooke, about his experience of leading digital transformation in several prominent financial institutions in the Nordics. Fredrik walked us through the initial requirements to meet before starting a project, the components of financial analytics to look out for and how a standardised implementation process might look like.

Choosing Analytical Tools for Digital Financial Journeys: What matters?

The digitalisation process in finance is rarely linear and intuitive, therefore, it might be challenging to find a tool that best suits one’s vision. While there are not (yet) any established criteria to consider when building cutting-edge analytical capabilities within digital financial planning, we have identified a few that we frequently use to secure efficient product development on a day-to-day basis. From model quality and granularity to transparency, we believe these elements to be beneficial when one is planning their digitalisation journey.

How to Use Technology to Ace the Race for Differentiation

While complex concepts might be comprehensible to professional investors, retail consumers require a tailored communication to ensure the understanding of it. Some topics were covered by Deloitte Consulting, but the most important is the client experience application. Clients tend to be less satisfied than what asset managers perceive. However, by adopting user-friendly, cost-effective technology, asset managers could master attracting and retaining customers, as well as close the gap between reality and customer service level perception. To achieve this, there are three customer interaction phases to be considered. In the acquisition phase, a company must have a clear strategic position with a visible USP, such as a scenario calculator API fulfilling the usability requirement. The next step is building a relationship with the acquired customer. In the case of Kidbrooke, we offer a resilient, stable, and secure way for asset managers to display multiple scenarios, such as pension planning and liquidity forecasting. In the final phase, where clients are investing and using the application to create a positive customer experience, the relationship can be improved by using data analytics to enhance customer experience through various dimensions.

Cloud-native Technology: You Can Bank On It!

Let’s look at one area of banking: customer journeys in retail (and private) banking. This is an arena where all six challenges can be observed and addressed.  Many customers have multiple relationships with their bank, but these are distributed over different platforms and devices. A customer may go to a website to look at bank accounts, another for their mortgage, an app for investments and a portal for an automotive or business loan. However, there is no tool in which the customer can see his or her total net worth. The disjointed way customers experience their banking journey reflects the legacy systems upon which banks were developed.