Case Study
Bank launches new wealth management robo-advisor
We helped a large financial services firm build a new robo-advisor platform to reach more customers.
Challenge
Making advice more accessible and convenient
The way customers interact with their financial services providers is changing. To stay ahead of the curve, our client wanted to launch a new robo-advice platform for its retail clients to serve more customers online and improve human advisor productivity.
With our extensive wealth management expertise and experience implementing robo-advisor solutions, we partnered with our client to deliver a minimum viable product to test in the marketplace.
Strategy and solution
A robo-advisor is a digital financial advisor driven by artificial intelligence and automation. It takes a customer through a series of questions about their finances, investment experience and risk appetite and recommends a personalized investment portfolio containing shares, bonds and other asset types.
We took an agile approach to designing, building and testing a robo-advisor minimum viable product for our client. This would later be tested in the market, where customers would be able to access the online service 24/7 and complete the questionnaire required in about half an hour.
Transformation
The robo-advisor we delivered was successfully tested internally, showing great promise for public adoption. This new capability will help our client tap into underserved markets and offer wealth management advice to customers at scale. A robo-advisor offers an easy entry point for customers new to investing and positions our client as a leader in this digital space.
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