5 Factors that Impact the Digital Transformation of Financial Advisory Services
In recent years, the financial services sector has faced many disruptions, from emerging FinTechs to the pandemic and increased regulations. In order to stay competitive, banks would need to engage strategies that adapt to external and internal pressures to improve their services and organizational efficiency. We’ll be honest, it’s not the easiest walk in the […]
Managing Wealth in a Landscape of Emotions and Irrationality
WealthTech: Merging Wealth Management and Technology It’s hardly contestable that money makes the world go round. Emotions often run high when money is involved, and humans, by nature, are not rational creatures. With an abundance of information on financial products fed to investors, they’re often expected to make a rational decision with or without proper […]
Metaheuristics Search for Financial Planning
As clients have unique demands and increasingly expect personalized financial advice, matching them with the right portfolio isn’t always easy. Discover how Bambu’s ‘Health Check’ feature used alongside optimization models can help take this weight off your shoulders by simplifying the recommendation process. Bambu’s Robo-advisory platform runs a ‘Health Check’ to determine the achievability of […]
Hadoop Ecosystem for a Specific Big Data Problem
As the world becomes more digitized, data processing and management has become a crucial step for sizable companies tackling large data pools to maximize their business decisions and strategies. In recent years, studies have shown that Fortune 1000 companies can gain more than $65 million in additional net income when increasing their data accessibility by […]
The Challenges of WealthTech Transformation
Even though many industries have embraced using digital platforms, we see that the wealth management industry is still hesitant to undergo a full digital transformation. Forbes has reported in a study that found that only 16% of US and Canadian banks make use of fully digitalised verification tools for their customers to open an account […]
Hybrid Models – One Size Fits All are the Relics of The Past
Hybrid Models – One Size Fits all are The Relics of The Past Robo-advisors have taken the wealth management industry by storm with analysts from CNB predicting a $1.2 trillion industry by 2024. Following suit, Deloitte reports wealth tech companies around the globe have shifted their focus towards the development and innovations in Robo-advisors. This, in […]
Fintech in Every Aspect of Our Lives
Fintech in Every Aspect of Our Lives Fintech – the application of new technological advancements to products and services in the finance industry; short for financial technology – has pervaded every aspect of our lives. The union between finance and technology has revolutionized the banking and introduced us to embedded finance – the integration of […]
How Millennials’ relationship with money is reshaping wealth management
What makes each generation unique? From the slang we use to the choices we make, the nature and significance of intergenerational differences has been subject to tireless debate. But as Millennials emerge as the world’s biggest spenders, one crucial difference – their relationship with money – is having a global impact. For wealth managers, understanding […]
Can digital wealth management close the financial advice gap?
As the world has evolved, so has our understanding of how financial strategies can help people achieve their goals. Budgeting, investment and responsible borrowing are just some of the strategies we use to grow wealth, and it seems more accessible than ever as digital innovation surges. Why, then, are we seeing a widening in the […]
A Promising Future in the APAC Wealth Management Scene
Wealth Management is in a Quandary Recently, we’ve seen Lloyds (UK) being fined £117 million in 2015 for failing to treat customers fairly, and Wells Fargo (US) fined US$3 billion in 2018 for charging clients unanticipated fees. There is a wind of change sweeping the wealth management industry – specifically regulations. Born out of the […]