It might sound rather futuristic, but automated financial assistants will soon become reality in the finance world, with apps and digital technology taking massive steps in recent years. There are popular apps coming onto the market that are a virtual tap on the shoulder for customers to help them make better financial decisions. Many of the apps that are currently on the market are mainly for the management of taxes, but there are some that can deal with savings. New players to the game will be looking at finding better deals for insurance and credit cards.
Digital Assistants
Banks are still not quite able to offer a digital assistant that can make a difference to your finances. With the right back office systems for IFAs, companies can ensure they run an effective digital service and develop a service of digital assistance. For wealth management clients, customer assistance is essential for money management. Strong back office systems for ifas can make the difference between having the right assistance or faltering.
According to a Banking Technology article, the future of banking is being altered by the idea that banks could become our 24/7 personal assistants. With digital technology evolving at such a rapid rate, banks are jumping on the bandwagon. In the same way that iTunes and Spotify have revolutionised the music industry, banking is hoping for a similar transformation.
Self-Service
Most the upcoming generations want everything done immediately. We do everything in our lives faster, and we don’t like to do things if we have to wait around for decisions. Supermarkets are switching to self-service, we have self-service banking in most walk-in banks on the high street, and at train stations we use machines to purchase tickets instead of speaking to a person for information. Companies like https://www.intelliflo.com/ are there to help financial institutions develop the right software to move their company forward in a positive, efficient way.
Digital services are evolving into a self-service identity, and there’s something complex about a service that doesn’t involve human interaction. The best thing about it is that with banking assistants a very large possibility, technology is developing at a faster pace than expected. There will be arguments for and against digital assistants in banking, but their future looks bright nevertheless.
