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The future of wealth management

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It has been a few years since companies and businesses embraced digital disruption, and embarked on the digital transformation journey to improve their business. It is now time to take stock of how far you have come and what lies ahead in the future. Traditionally businesses relied on manual intervention for all processes and there was little to no automation across their systems. Artificial intelligence, robotic process automation, robo – advisors were terms many were unaware of. But today these very technologies are helping businesses, including banks, to offer better service to their customers and secure their future.
This extends to wealth and asset management space as well. Cost pressure, FinTech disruptors and new digital channels are posing challenges to business. Apart from these, the ever-changing regulations adds to the overhead cost with respect to wealth management organisations. It is imperative to understand that a system that will streamline the internal processes when working with a client’s accounts has a direct impact on the business’s profitability.
The key challenges:
1. Re-wired investors – The current generation investors have different expectations and look for advice that is unlike the earlier generation. This has forced advisors to relook at their strategies, and how they can influence the older investors with wealth management services.
2. New Competition – With every day there are new companies cropping up disrupting the wealth management space. It is therefore essential to look at changing the business models to fight competition and retain customers.
3. Big Data & Analysis – Big data and advanced analytics are the key focus for any business, more so for wealth management. Advisors need to create new methods to engage with their customers to build trust, gain insight and manage their relationships and risks.
4. Aging Advisors & Subsequent Transfer of Wealth – There are two prevalent trends today – a) Advisors are aging and moving out of the industry and b) Wealth is changing hands, which will cause disruption in the already established client/advisor relationship.
5. Increasing Costs of Risk and Increasing Regulator – Increasing regulatory norms adds to the rising cost of risk that poses a big challenge to wealth management companies.
6. Riding the Retirement Wave – Advisors need to constantly monitor their client base for possibilities of retirement and planning for the future.  

Neutrinos offers a range of Wealth Management Solutions that are crafted to enhance client service levels, enhance compliance adherence, internal employee’s productivity and efficiency, while optimising IT and operational costs.

The competitive edge of Neutrinos’ Wealth Management solution lies in the unique combination of functions that support traditional methods of maintaining the bank- customer relationship, while taking into consideration the digital innovative approach towards wealth management products and services. 

Our solutions encompass personal investment advisory [portfolio management], fully automated and connected service using AI  and ML capabilities by constantly taking into consideration the customer’s preferences and business model.

Key Capabilities & Differentiators

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The main advantages of our solutions are:

  1. Guidance through the entire journey
  2. Quick and instant access to investment portfolio
  3. Paperless flow and one click digital processes
  4. Digital platforms – existing legacy applications can be migrated while keeping the backend data source and business logic intact. The migrated application can take advantage of modern UX and user interface that most low code platforms provide out of the box. 
  5. Technologies used – Internet of Things (IoT), Mobile apps with Payment Gateways integrated, Artificial Intelligence (AI) applied to decision making, Email and Chatbots
  6. Personalized products and services
  7. Real time updates 
  8. Meeting customer demands and offering high levels of service. 
  9. Data aggregation – view, update and visualize database tables without having to write any code. 
  10.  Regulations – manage changes in regulation and fraud prevention.

Neutrinos Expertise

Neutrinos platform adds value in building an application rapidly that needs to fetch data from multiple data sources (databases, APIs, Custom Business Logic, files, legacy apps, external services) and creates web as well as mobile ready dashboards; not only provide these integrations, the platform helps the application to provide real time dashboards, live data grids and live lists that give immediate visibility into business performance. We have been working with financial & investment companies helping them redefine their business processes, and customer management. To understand how you can achieve digital transformation in the banking sector, reach out to us now.

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