NY FinLabs Day Event Recap – Wealth Tech Business Challenges
Digital transformation is a top agenda item for most financial services companies as they move from focusing on regulatory compliance to targeted user experiences, business intelligence, and predictive analytics that help them solve business challenges. Wealth managers and asset managers in particular are facing increased pressure from their clients to provide omnichannel, engaging, and impressive digital experiences.
Last week, Synechron’s Financial Services experts in Digital, Business Consulting and Technology discussed key challenges across the Wealth Management value chain and showed our clients how applied technology can help address some of the most complex business challenges facing portfolio managers, relationship managers, and asset managers today.
The conference brought together these companies to showcase next generation technologies and how these can improve businesses, with the aim of making work more human. Panel discussions included the impacts of AI & Data Science within the Enterprise & Consumer sectors, as well as Development platforms and Digital Transformation opportunities. A couple of key panelists included, Katie Baker, Head of Strategic Retail Innovation at Samsung, who discussed the importance of extracting data to help enhance consumer insights and experience; and Filippo Della Casa, Head of Analytics for the Data Science at Unipol Group, who presented on the growth of Data Science in the last five years at a large corporation and how far the technology has come.
Synechron’s Ravnit Kohli, Managing Director-Synechron Technology, started the evening with an introduction on Wealth Management trends and “top of mind” issues for Wealth Management CEOs, ranging from Client Prospecting to Client Retention—with a focus on how Synechron’s Wealth Tech Accelerators, in conjunction with AI and Data Science, were developed to help address these issues.
Following this, Tim Coates, US Head of Blockchain, presented on the opportunity for wealth managers to engage with their partner network across shared digital ecosystems to offer new value to clients, while Robert Huntsman, US Head of Data Science, touched on Synechron’s work to apply AI to Wealth Tech business challenges such as how to optimize client prospecting, fee risk to profit optimization, and investment research generation and visualization.
Attendees finished the evening in the FinLab for a 40-minute in-depth live demonstration of some of the accelerators, including:
The event closed with a futuristic vision of the wealth management relationship management portal for the year 2033 featuring Synechron’s RM Dashboard Accelerator. It was a great opportunity for our clients to get an exclusive look at our innovative approach to solving business challenges in Wealth Management while engaging in meaningful discussions.
Learn more about Synechron’s Wealth Tech Accelerators at, www.synechron.com/finlabs/wealthtech.
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