More Banking for Less Money

By Rino Borini

Co-Founder, Finance 2.0

It all started with fully automated stock exchanges. The next step is digital managers (robo-advisors). The winners are the clients. The global financial industry is facing the challenge of having to completely rethink its business models and adapt them to the new digital and mobile reality. This development encompasses new, disruptive peer-to-peer technologies (from computer system to computer system) such as blockchain, which will revolutionize the worldwide financial market infrastructure.

Customers want to benefit from this new simplicity, transparency and flexibility.

Retail banking is already feeling the pressure acutely. But even in the wealth management business and the product lab, asset management, the changes will be fundamental. Technology-based applications enable financial services to be delivered direct to customers. The potential is enormous, and it also makes the middleman superfluous. Customers want to benefit from this new simplicity, transparency and flexibility. They want to have access to their assets around the clock, for information or management purposes, regardless of their location and the device they’re using. The interface between customers and banks is being redefined.

Back to the Future

It’s nothing new for wealth and asset management to be facing challenges. A whole 20 years ago the Swiss stock exchange launched the world’s first fully electronic stock exchange. Physical open ...

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