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59. Leveraging AI/ML in Wealth Management with Alexis Calla

59. Leveraging AI/ML in Wealth Management with Alexis Calla

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Key takeaways

  1. AI analyzes historical data to help advisors anticipate and optimize their client’s portfolios.
  2. Wealth advisory is often based on customer behavioral management. 
  3. As a technology provider, don’t replicate practices for the sake of digitalizing them. 

This week on WealthTech Unwrapped, Alexis Calla, CPO at DreamQuark, joins Ned to discuss the digitalization of wealth management services. Having worked with legacy banks before transitioning into the FinTech scene, Alexis shares his wealth of experiences about the challenges that financial services providers face. More importantly, he delves into how technology can overcome the obstacles.

Speaking on how much AI has impacted the banking industry, Alexis notes that digitalization has undoubtedly enhanced many of the dated processes on the client’s end. From automating documentation to client management, technology has helped to provide a more seamless customer experience. However, on the advisory side, he believes that not enough has been done. Even with the resources to equip and innovate, data is not used productively. 

Technology is merely a tool to augment and optimize advice, not to replace human advisors. Alexis considers the way machine learning recognizes patterns and possible outcomes, and feeds these insights to human advisors so that they can tailor each client’s wants and needs. At the end of the day, AI relies on data and even the most precise data cannot predict unexpected circumstances. 

In the next 10 years, Alexis hopes that he could help people understand the virtue of WealthTech in bettering financial services. 

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Meet Our Guest Speaker

Alexis Calla

DreamQuark

Before Alexis Calla joined DreamQuark as Chief Product Officer, he was the Chief Investment Officer at Standard Chartered Bank. After more than 20 years in large traditional banks like Standard Chartered and Citibank, he's back in Paris and working on delivering AI solutions in a FinTech startup. Alexis is passionate about technology and using AI/ML to better help advisors provide refined and personalized services to their clients.

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