Wealth Dynamix’s Post

Came across this fascinating article (a little 4 months late) diving into WealthTech in India. Here's what caught my attention: 1) Insights on the rising demand for digital solutions in India's dynamic wealth management sector 2) The innovative 'phygital' approach blending tech with personalized client interactions 3) Advances in AI and data analytics shaping service efficiency and client engagement Even if fashionably late, these learnings are timeless for anyone in Wealth business striving to innovate and elevate client experiences. Dive in and stay ahead! 🚀 https://lnkd.in/g9RnjdDc #WealthManagement #Fintech #AI #DigitalTransformation #personalized

Recent developments in international cash flow management are transforming the financial landscape. Leveraging generative AI and automation, businesses can now predict cash flows with unprecedented accuracy and streamline repetitive tasks, freeing up valuable time for strategic planning. By adopting a multi-channel approach that combines personalised service with digital engagement, companies can enhance customer experience and improve resource allocation. These innovations boost efficiency and provide businesses with a competitive edge in managing their global financial operations. #AI #CashFlow #CustomerExperience

In our latest article in MEA Finance Magazine, we explore how automation and #AI are revolutionising #PrivateBanking in the MEA region. Discover the impact on wealth management. Read more: https://lnkd.in/dw8M4nJK #ProfileSoftware #Automation #Innovation #WealthTech

𝐓𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐰𝐞𝐚𝐥𝐭𝐡 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐢𝐬 𝐡𝐞𝐫𝐞! 🚀   Anton Soudovtsev, Head of Business Services at Azqore, reveals exciting plans to integrate AI into core banking systems of Azqore. The Enhanced Product Shelf is a solution aimed at facilitating the creation and development of financial products by using conversational AI technologies to provide compliant, relevant, and hyper-personalized investment proposals. 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐠𝐨𝐚𝐥𝐬 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐰𝐡𝐢𝐜𝐡 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐢𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐞𝐝 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟓: ✅ Simplify processes: it aims to help customers transition from static, monthly formulated investment recommendations to a more dynamic system that personalises investment options based on real-time client feedback. ↗️ Improve the personalisation: it drives towards hyper-personalisation in its ability to provide highly specific investment recommendations based on customer data and preferences. To read the full interview of Anton Soudovtsev 👉🏻 https://lnkd.in/enKxSYCJ #WealthManagement #AI #Innovation #Finance #Azqore #PrivateBanking #ClientExperience

In the financial services sector, fragmented initiatives often result in a lack of tangible ROI. For example, a Chief Information Officer might lead a digital transformation while the Chief Data Officer pursues separate AI initiatives, diluting the overall impact. cc: Jabin Geevarghese George StratRocket is building a future where institutions can create an integrated, holistic vision with input from all stakeholders, leading to greater leadership confidence, increased innovation success, and improved ROI. #DigitalTransformation, #AI, #FinancialServices, #Innovation, #BusinessStrategy, #Leadership, #TechInnovation, #ROI, #CIO, #CDO, #HolisticVision, #IntegratedSolutions, #FutureOfFinance, #InnovationSuccess, #CorporateInnovation

Imagine a world where trade settlement failure is largely handled by streamlined, automatic processes versus manual efforts. It’s possible with gen AI. Accenture's Matt Long shares more in his latest blog: https://accntu.re/4bB5cTJ #InvestmentBanking #Accenture

AI is coming to revive wealth management, yes. 𝐢𝐟 𝐰𝐞 𝐠𝐞𝐭 𝐰𝐡𝐨 𝐭𝐡𝐞 𝐛𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐫𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐢𝐬. 𝐀𝐧𝐝 𝐢𝐬 𝐧𝐨𝐭 𝐭𝐡𝐞 𝐜𝐥𝐢𝐞𝐧𝐭.    Is the Relationship Managers.   This FT article remarks on how every wealth manager and bank are trying to understand AI is an opportunity. But we do this within our current business model, with our current business thinking, which goes like this:   📌 Technology (of any sort, but AI) is there to increaser our revenue of reduce our cost – Obvious 📌 The most expensive part of our process is the human advisors whose job is to talk, understand and advice clients - as our annual reports show 💡 Hence, lest use AI to interact with clients and get the double whammy of decreased costs with increased revenues (applause, applause)   Except, this is where the power point hits real life, and real life wins. It does not work and robo-advisors have not make a dent. For a very simple reason: People prefer discussing important, personal matters with other people. And discussing what to do with your money (independently of the amount)  is personal and important.   If most people will almost always predictably prefer discussing money with people, we can assume that human interaction drives their willingness to pay. Which means that the most valuable part of wealth management is, the advisors. Replacing Advisors with robots, will definitely decrease the cost, but also the revenues.  Zero sum for the P&L.   We need to think differently; 𝐈𝐟 𝐜𝐥𝐢𝐞𝐧𝐭𝐬 𝐚𝐫𝐞 𝐧𝐨𝐭 𝐭𝐡𝐞 𝐛𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐫𝐢𝐞𝐬 𝐨𝐟 𝐀𝐈 𝐰𝐡𝐨 𝐢𝐬?    The advisors, the Relationship Managers. The business cases for AI (or digitalization, or plataformization, or core-banking overhaul) that can reduce cost and increase revenues are those that have the Relationship Managers as users and not the end clients.   The opinion article in the FT doesn’t say this but points in the direction. In Zurich, where Financial Services is the main economic activity, we need to think differently if we want to keep our place. For that, we need to understand that the value we produce is peace of mind, not investment products. People will continue trusting other people and not a computer with, as important parts of our lives, as retirement, children education or legacy. The purpose of technology, and the responsibility of management is to enable those “other people”, who we call Relationship Managers, to do this. Link to article in the comments (behind paywall) #GenerativeAI #WealthManagement #PrivateBanking #swissbanking #thewaywebank Just my opinion, not of any institution

Recent advancements in international cash flow management, driven by generative AI applications and automation, are reshaping traditional banking models. One key insight is the transformative impact of personalized coverage and direct digital engagement in navigating cross-border complexities effectively. Generative AI applications bring unprecedented accuracy to cash flow forecasting, crucial for businesses operating in diverse economic conditions globally. This spotlights the importance of leveraging technology to streamline financial operations and adapt to dynamic market conditions. Additionally, adopting an integrated multichannel approach, combining personalized care, inside sales, and digital channels, is essential. This caters to the diverse needs of clients and also ensures a more efficient allocation of banking resources. These insights highlight the significance of leveraging technology and strategic approaches to drive growth and innovation in the international finance sector. #AI #CashFlow #Innovation #FinancialServices

As digital transformation advances, traditional banking and wealth management sectors must adapt to meet consumer demands for more accessible, efficient, and personalized services. https://lnkd.in/dYzVAqz6 #DigitalTransformation #Fintech #WealthManagement #AI #Automation #BankingInnovation #PersonalizedBanking #TechInFinance #FinancialServices #DigitalBanking #FintechRevolution #FutureOfBanking #InvestmentTech #RoboAdvisors #CustomerExperience #BankTechPartnerships #EfficientBanking #AccessibleFinance #SmartInvesting #FintechInnovation

Within CIB, our survey results indicate that Operations, KYC/Onboarding, and IT/Data Office tasks are the top 3 areas where Generative AI will have the greatest impact. #generativeai #genai #ai #corporatebanking #investmentbanking