What is automation in a modern enterprise environment? In a nutshell, automation can be defined as a collection of technologies (bots, business rules, sensors, programming scripts, etc.) that can complete a task with little to no human intervention.
Wealth management firms are amongst the most process-intensive businesses within the financial services sector. However, many firms struggle to adopt process automation because they lack an understanding of where to begin.
Blockchain technology promises a high level of security through its distributed ledger system causing it to be one of the most secure data protection technologies we have available to us. At its core, the secure digital ledger system of blockchain is built to be one that cannot be ‘hacked’ or altered once the block is validated.
HNW clients requires a highly targeted approach to service and marketing, since what they value in a financial advisor doesn’t necessarily align with what mass affluent investors value. HNW investors are opportunity seekers who are also extremely confident in their ability to handle money...
Cryptocurrency has always been volatile with regards to its fiat-comparative value. It Is important to remember that the blockchains are decentralized and there isn’t any single entity behind it putting out media fires. With that in mind, current fiat value becomes irrelevant to believers when we are Hodlers, as there are many promising signs of what’s yet to come. Crypto and NFT adoption is still just getting started.
With workflow automation, standard processes can be designed and managed within a single platform. Processes like the one mentioned above can be kicked off automatically, assigning tasks to the appropriate team members and triggering a number of other steps.
Prospecting is the bread and butter of every financial advisory practice, which is why the best advisors spend up to 20% of their time finding and engaging with their ideal clients. These are the types of potential clients that all advisors want to work with.
We cannot emphasize enough the impact that artificial intelligence (AI) and automation (specifically Robotic Process Automation) has had, and will continue to have, on our industry. In fact, most advisors have grown so accustomed to their benefits, that they may not even realize the daily impact to their practices and clients.
Introduction The recent COVID-19 outbreak is wreaking havoc not only on markets, but also...
Customer (KYC)/Customer Identification Program (CIP) process. Typical KYC exercises involve a very comprehensive document review process. Numerous details must be extracted from many documents, such as document ID, names, dates, signatures, and more.