‘Looking ahead – leveraging digital to drive positive business transformation’ was the fourth panel of the day, led by Alessandro Tonchia, Head of Strategy at InvestCloud, Europe and Asia, and facilitated by Brod Whiting, Director of JoyndUp. It addressed the importance of data quality and availability.

In the session, participants noted that there are challenges in getting advisers to input useful data into CRM systems; it also highlighted the limitations and lack of flexibility of current systems in tagging and segmentation; a lot of data ends up in inefficient free-text fields. It also acknowledged the importance of personalising of customer journeys; even success in this area remains aspirational for many.

Missed the event? Access our full summary paper here!

The importance of ethics, privacy, relationship management, data segmentation, and nudging clients was also discussed. In particular, the acceptability of scraping client data from social media without consent and transparency was discussed.

It was also thought that AI has promise, not just in personalisation and insights, but also in compliance, client Q&A interactions, and recommendations - however, further development is needed, and core systems and data pipelines need maturing first.

You can access the full output paper here.

If you want to participate in the next WealthTech Matters, you can access Owen James Event’s calendar here.

About WealthTech Matters
Owen James and The Wealth Mosaic have collaborated to create a series of triannual events for key decision-makers from the private wealth industry.

Technology is core to the future wealth management model, but in an increasingly specialist technology environment, wealth managers must engage with a deeper knowledge and understanding of what technology is available and can deliver across the three main areas of their business: their clients, their advisers and staff and their business processes. 

WealthTech Matters focuses on these three themes to help delegates discover and discuss the technology solutions that will solve the key challenges facing their business.

About Owen James
Owen James seeks to provide a platform for strategic engagement: an opportunity for key individuals to discuss and understand the business and investment issues which are affecting the whole of their industry. The end game is to enable firms to do better business - commercially, intelligently, and ethically.

Find out more at www.owenjamesevents.com Owen James seeks to provide a platform for strategic engagement: an opportunity for key individuals to discuss and understand the business and investment issues which are affecting the whole of their industry. The end game is to enable firms to do better business - commercially, intelligently, and ethically.

Find out more at www.owenjamesevents.com