FINTECHDisruptors And Enablers,Both Winners |
FINTECH
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Robo-advisory start-ups (Betterment, Wealthfront…) have been making the buzz lately. Taking over traditional financial advisors, they offer asset allocation services to users based on their personal and employment situation, assets and liabilities, savings and retirement targets.
Their success so far is limited (roughly $100bn in AUM) as brand is key and client acquisition costly. While it’s highly unlikely to see a high number of start-ups thriving in this low-margin business, traditional banks are expected to capitalize on bots to reduce costs. From portfolio allocation in wealth management to customer service (chatbots) and process automation.
A blockchain is a distributed database of transactions recorded
and verified across a network of participants.