5 January 2021
This is accentuated by the data-driven insights that can be easily accessed and evaluated to supercharge your financial future.
It may come as a surprise to you that online banking has been around since the 1980’s. While the concept has been around for quite some time; the mass adoption of the smartphone truly catapulted online banking to be the modern contrivance that it is today.
With the added security of SMS notifications and verification, people felt more comfortable using the technology.
In today’s digital landscape it would be hard to conceive of a bank or credit card company without an associated mobile app for customers to budget, track expenses, make payments and so on. In each instance, there are common customer pain points being addressed. Pain points that didn’t necessarily exist before we were flooded with digital convenience and instant information.
Then we have the nexus of influencers, friends and family known as social media. We have access to these gigantic platforms for public commentary, recommendations and opinions. Social media has completely changed the way that we interact with our social circles and how we consume news and information. The channels through which we communicate have proliferated.
The latest trend in this regard seems to be teleconferencing and video calling.
But what does all of this mean for us? It means that we are equipped to make changes faster than ever before.
Some changes we have voluntarily accepted, some have emerged from the adoption of parallel technologies and some are thrust upon us. One thing that is clear is that the status quo has changed, there is no going back.
In terms of financial advice, we are seeing consumers who are more informed and now expect to be kept informed. While we, as advisers, have always taken a holistic approach to our relationships with you, these improved technologies allow us to put more focus on the big-picture questions. Do you have enough life insurance? How can you maximise your savings in retirement?
With improved automation, artificial intelligence and machine learning on the technological horizon, we are soon going to be outfitted with even more capacity to provide personal and customised advisory services.