Your Personal Digital Financial Advisor – WealthPal
Collaboration of capabilities include a network of financial experts and social connections to enrich the research, buying and customer support experience.
By FINTECH Books Contributor, Dev Worah
Follow: @devworah
Wealth Management experiences will need to evolve rapidly to align with the expectations of the nextgen customer. These experiences will be smart, digital-first, high-touch, contextual and tailored using a holistic knowledge about the customer lifestyle and their financial needs.
It is possible to reimagine the digital wealth management customer journey through various moments along the engagement lifecycle, including awareness, acquisition, advice, and servicing, highlighting the enabling capabilities and WealthTech solutions that would be leveraged to create innovative experiences along this journey.
Ideas can be envisioned through a digital wealth management platform designed to make the customer’s financial planning, learning and investment experience personal, fun, intuitive, and informative. Using Artificial Intelligence can be used to learn, interact, engage and advise the customer in a manner that is highly informed, personalized and seamless with evolving knowledge of its customer providing a proactive approach to planning in a manner that is aligned with the lifestyle and financial knowledge of its customer.
Access can be provided through a myriad of interfaces and channels using mobile, Internet of Things (IoT) and wearable technologies, in a manner that is contextual and personalised to an individual’s situation.
With a collaboration of capabilities to include a network of financial experts (e.g., financial advisor, tax advisor) and social connections (e.g., friends, peers) to enrich the research, buying and customer support wealth management experience this can be a natural extension of the network effect to aid the wealth management experience of the nextgen consumer.
If you would like to learn more about FinTech please look at our video courses at FINTECHCircleInstitute.com
