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Simplicity is the ultimate sophistication, Leonardo da Vinci once said. However, simplicity can be a double-edged sword when digitising wealth management and the key is finding the right balance.
With every new variant of Covid, the end of the pandemic continues to move further into the distance. These past two years have shown the cruciality of digital services, and firms no longer have a choice to avoid it if they want to stay successful. The trouble is, where does a firm start?
A blogpost by Kidbrooke has detailed how financial organisations can ensure regulatory compliance and transparency when it comes to their digital financial products.
While financial services scramble for digital transformation, Kidbrooke fears most have not assessed how the decision-making models of underlying technology might impact customer experiences.
Personalised products have always been a boon for a service provider, but it is now becoming a “powerful brand differentiator in the digital economy”, according to WealthTech company Kidbrooke.
Customer engagement will not only allow wealth managers to nurture loyalty within their customers but can yield strong results by tailoring services to their needs, according to Kidbrooke.
A recent blogpost by WealthTech firm Kidbrooke has examined the key technological factors that ensure the flexibility of digital financial services.
One of the key factors for companies in the digital age is ensuring that consumers can access their information quickly and efficiently. When these processes become too slow, this can have a damaging effect on the user experience.
BigTech companies like Amazon and Google has changed the customer expectations for online experiences regardless of industry, but will these experiences be tied to the success of firms in wealth management.
As the world treads towards digitalisation, wealth management firms must keep pace with changing technologies by preparing their operations for the digital age.