How will technology, including AI, APIs, Blockchain etc allow Private Banks to reimagine their business models?
While the brokerage space has evolved a lot in recent years and investors now have range of good choices (especially if you’re US based), choosing ‘the one’ is still not easy even for experienced investors.
The growth picture is strong with realised annual rates of +50% and an expectation of a market size of 16 trillion dollars by 2025 according to Financial Times.
Claims sharing enables B2B apps and IoT technologies to build an accurate data bridge between insurers and customers.
If given the right environment, Fintech could become one of the most powerful tools to support sustainable economic growth
This has led to the emergence of a class of “shadow banks”, such as peer-to-peer lenders and robo-advisors for wealth management
For this generation, RegTech means being able to understand and execute regulations and compliance in almost an instance for lay people, multi-national companies and new user groups affected by changing laws.
It’s not enough to create usable interfaces anymore, you need to understand what kind of experience you want to ensure at every touch point of digital interaction with your users.
All those complex terms such as subsidised/unsubsidised loans, running balance, available balance, interest rates, compounding, stocks, bonds, mutual funds. Why are average users supposed to know what all this means if they just want to manage their wealth?
For the insurance industry with its consultation-intensive products, the possibilities of digital assistants sounds promising.