The digital era is changing client’s relationship in the wealth management industry

6 Jun 2014

A survey conducted over the American market during 2014’s first quarter demonstrated that customer’s dissatisfaction with the mobile services was the first cause of breach of contract between a client and its bank. Indeed, over 60% of surveyed persons left their previous bank because of this reason. This figure underlines itself the importance of new technologies in our daily lives.

Wealth management players are also affected by these new trends. Besides the increasing number of new regulations, wealth managers also have to deal with the technological revolution ongoing. In fact, we estimate that each person in the world will possess an average of 3.47 devices directly connected to the internet in 2015. Even more shocking, this number should double in 5 years to reach 6.58 devices per person in 2020. Far from being just a temporary transition, the demand for online services, available via smartphones or other devices, anywhere and 24/7, is today a real concern that can’t be ignored.

A direct consequence of this new digital wave was to change and transform customer’s habits and needs. Clients are asking for more  in order to reach a higher level of control on their portfolios.

Concretely, what does it mean for wealth managers?

Today, and as mentioned above, customers are willing to follow with the highest accuracy possible their investments, via all the devices they possess. They are then looking for asset managers who will be capable of offering such a high value service. More and more, investors are leaving one provider for another one because the services offered where not meeting the customer’s hope and expectations.

Therefore, being able to propose these kinds of services to its customers is becoming a strong and powerful competitive advantage. To do so, acquiring and integrating tools and software is a mandatory step, and almost mandatory to survive.

History and serious surveys showed us that technological delays can seriously and definitely damage the business of any company that did not react fast enough facing a changing environment.

KeeSystem®, a long term vision on technological evolutions

Business intelligence about technological innovations conducted by our team of experts allowed us to predict and anticipate this digital trend. From its very beginning, our tool KeeSense® integrated several reporting functionalities capable of providing documents and statements in PDF format in just a few seconds.

In 2013, KeeSense® released MyKeeApp® in order to be in ad equation with the market requirements and needs. MyKeeApp is a mobility solution which allows any client to check and follow its different investments anywhere, 24/7 and on any device (laptops, smartphones, tablets…). The functioning of this service is very simple as a private access is created and granted to every client.

You would have understood it: we value our customers and we offer them the best high quality services available on the market.

For more information on KeeSense® and all its functionalities, please do not hesitate to contact our team of experts.

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