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?
WealthTech Trends for the 4th Quarter 2021
Every quarter, we summarize the three most prominent trends in WealthTech and we are excited to share our latest summary with you today! In the forth quarter of 2021, we noted that successful wealth managers will make the most of advanced analytics. Second, that having an investment strategy with respect to digital assets will become critical in metaverse. And third, that leveraging technology to better engage with clients will likely pay off.
Dare To Be Different: Differentiation for Wealth Managers
The competition for wealth management firms to win with customers is constant and growing. What is driving this? Technology is the source of the problem, because it is driving down costs and fees while accelerating the commoditization of offerings. Technology is also the answer, because the intentional, intelligent application of technology can help wealth managers reinvent and differentiate themselves. Let’s focus on four themes embraced by leaders in wealth management: connectivity, trust, confidence, and action.
How to Ensure that Your Digital Financial Experiences are Compliant with the Regulations and Transparent?
The financial services industry is notorious for regulatory constraints slowing down innovation projects and putting downward pressure on the profit margins. However, these regulations are critical to building a healthy, reliable, and trustworthy financial system. Whether you represent an incumbent financial institution or a FinTech, it is essential to consider regulatory requirements while choosing a tool to shape your institution’s digital capabilities. At Kidbrooke, we have always been mindful of regulatory challenges faced by the industry: the idea of OutRank, our financial simulation engine, stems from MiFID II/IDD transparency regulations. Today we will examine which transparency factors make a difference when selecting financial analytics running digital and hybrid customer journeys.