Hoy en día las entidades financieras, cada vez más globalizadas, se enfrentan a todo tipo de retos y, es entonces cuando los inmensos volúmenes de datos que gestionan cobran un protagonismo crucial ya que sólo cuando transforman esa información en conocimiento consiguen aliviar el complicado panorama en el que se encuentran.

Algunos de los desafíos más importantes a los que se enfrentan las entidades financieras son: 

• La disminución de los márgenes comerciales.

• Los bajos tipos de interés.

• La implantación de costosas normativas.

• Los contínuos cambios tecnológicos.

• Los incrementos en los costes operativos.

• Las capacidades crecientes en servicios digitales que demandan sus clientes.

• La puesta en marcha de nuevos servicios especializados de sus competidores (otros bancos y fintech)

Por otra parte, el análisis de esta información transformada en conocimiento ayuda a las entidades financieras a:

• Conocer y controlar la situación actual real de las áreas funcionales y operacionales de la entidad. Se trata de identificar oportunidades y debilidades y así tomar las mejores decisiones.

• Incrementar las ventas al poder predecir e interpretar el comportamiento y necesidades de sus clientes. Como resultado, la entidad puede entregar servicios de mayor valor a sus clientes, consiguiendo a la vez, su lealtad y permanencia, además de un aumento de su “share of wallet” (mayores ingresos).

• Conseguir una mayor eficiencia en los costes operacionales del día a día, ahorrando tiempo y esfuerzo, y haciendo que sus trabajadores se centren en las actividades más relevantes (las que mayores beneficios les reporta).

• Impulsar su digitalización mediante innovación y así agilizar las respuestas que da en tiempo real.

Además, los indicadores y métricas clave de rendimiento (KPI) más habituales para las entidades y asesores patrimoniales suelen ser:

• Activos bajo gestión (AUM): Es el valor total de los activos gestionados como medida clave de la escala del negocio de una empresa.

• Ingresos por cliente: Es el ingreso total generado por cliente como medida de la eficacia con la que se está monetizando su base de clientes.

• Tasa de retención de clientes: Este es el porcentaje de clientes que continúan haciendo negocios durante un período de tiempo determinado. Una tasa alta de retención de clientes indica que la empresa o el asesor están haciendo un buen trabajo para satisfacer las necesidades del cliente.

• Tamaño medio de la cuenta: Es el promedio de las cuentas administradas como medida del tipo de clientes de una firma o asesor e indica el nivel de sofisticación de los consejos proporcionados a sus clientes.

• Retorno de la inversión (ROI): Es el retorno de la inversión logrado para sus clientes como medida de la eficacia de las estrategias de inversión empleadas por la empresa o asesor.

• Puntuación que mida la satisfacción del cliente: Es la medida de cuán satisfechos están los clientes con los servicios prestados por una empresa de gestión de patrimonio o asesor financiero, medido a través de encuestas y formularios de satisfacción.

• Tasa de adquisición de nuevos clientes: Es la tasa que mide la capacidad de la empresa o gestor patrimonial para hacer crecer su negocio a través de la incorporación de nuevos clientes.

• Tasa de huida (o deserción) de clientes: Permite identificar aquellos clientes que están en riesgo de darse de baja en nuestra entidad para irse a otra entidad. Mediante la identificación temprana de éstos, podremos aplicar medidas para evitar perderlos.

Estos KPI pueden ayudar a las empresas de gestión de patrimonio y a los asesores financieros a realizar un seguimiento de su rendimiento, identificar áreas de mejora e ineficiencias y tomar decisiones proactivas basadas en datos y conocimiento, para mejorar sus servicios y hacer crecer sus negocios.

Las plataformas “end-to-end” que automatizan todo el ciclo de vida de la gestión patrimonial -como Tower– permiten de manera sencilla y sistemática, la extracción de toda la información que almacenan, para su analítica en plataformas especializadas de Business Intelligence como Tableau, Microsoft Power BI, Qlik, SAP Analytics Cloud…

Mediante estos paneles interactivos, podremos descubrir  y analizar conocimiento muy valioso para su negocio. Por ejemplo, podremos medir la rentabilidad de sus clientes, productos y servicios o la eficacia de sus gestores. También podremos predecir y estimar el futuro con tasas de acierto muy elevadas y podremos anticiparnos a los problemas o necesidades potenciales, consiguiendo grandes ventajas competitivas.

Solo aquellas entidades financieras que aprovechen eficientemente este torrente de información diario que tienen a su disposición y lo transformen en conocimiento, serán las que puedan evolucionar saliendo de este escenario tormentoso, obteniendo múltiples beneficios y liderando el mercado.

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Tower is a 360º digital platform for advisory services, discretionary management and execution, as well as an end customer portal.

Among its most important features we can highlight its robust portfolio manager, alerts and monitors, customisable investment proposals as well as portfolio reports, financial planning, administration module and model portfolios, in order to have an overview of all the investments of each customer complying with local regulations.

In this video, Javier Carrallo (Senior Business Development) walks us through Tower’s main modules and gives us a short demo of our leading digital wealth management solution for financial advisors.

The Wealth Management sector has rapidly evolved in recent years and has become digitised to a considerable extent, creating certain trends that we must bear in mind in 2023.

1. Digital solutions focused on the end client

Wealth management platforms are increasingly client-focused to facilitate their access with simple user interfaces designed for their ease of understanding. In this way, customers can analyse and review their portfolios, calculations and even sign proposals more quickly and efficiently from the entity’s client portal. The customer demands to be able to see, at the very least, the updated status of their investments at all times. Entities need to continue providing added value to their clients in order to win their loyalty and, at the same time, defend their clients against other competing entities.

2. Aggregation of non-custodial positions

Entities are “greedy” for data and, therefore, need to have more information about their customers. They are aware that this data is often the differential value. Based, although not solely, on the PSD2 regulation, the entities propose to their clients to add those investments not under their safekeeping to their platforms, in order to offer them a better advisory service. The reality is that with this “extra” information, entities can attract new assets much more effectively. Most large financial institutions are exploring ways to “converge” in order to diversify revenue streams and serve customers more comprehensively.

3. Regulation

Year after year, regulatory authorities impose legislative changes that affect the financial sector. In addition to being mandatory, these regulations promote ways of greater communication and transparency between advisors and their clients. Although the SFDR regulations have been in force since last August, in 2023 it will be crucial to launch new suitability tests that reflect clients’ ESG investment preferences in terms of sustainability, reporting and control. This will be a priority for any entity that offers advisory services and discretionary management.

4. Cybersecurity

Financial institutions continue to invest in security to protect themselves from cyber attacks that could compromise their clients’ personal and financial data. Investment in secure platforms also climbs to the top positions.

5. Hybrid advice through Robo-advisors

These platforms allow financial institutions to deliver discretionary and advisory services. They provide value to personally and digitally attend to a large volume of clients, whilst offering them a personalised service.

6. Digital Onboarding

The digital onboarding process allows new clients to send their documentation online and with complete security, even for the investment proposal signing process.

7. Multi-channel and interactions through the entities’ Apps

Wealth management niche solutions must be designed (APIfied) to easily and safely undertake light integration processes with existing subsystems (e.g. commercial CRMs). In this way, comprehensive data is made available to multiple channels through a single central repository.

8. Diversification of investment products

Clients not only invest in stocks, funds and bonds but also in cryptocurrencies and crypto assets (real estate, art, financial products), seeking to diversify their portfolios and increase their returns while controlling risk at all times.

9. Risk management and adequacy of commissions

The protection of client assets in scenarios of recession and uncertainty, with high levels of market volatility, will be, once again, one of the primary goals for financial institutions, although not the only one. Commissions applied by the entities must be adapted to the new times.

All this leads us to increase efficiency and differentiation in the provision of services and this will only be achieved through greater process digitisation.

10. WaaS (Wealth as a Service)

Now that it has been resolved and agreed that legacy “on-premise” platforms are no longer required for information security reasons, it is observed that there is a strong trend in the sector to adopt asset management infrastructures as a service. The cloud migration of these services goes hand in hand with the adoption of digitisation.

In conclusion, financial institutions that adopt the aforementioned trends:

– Will have a better chance of prospering in an increasingly competitive market.

– Will be better able to scale their offers and provide an excellent experience, using technology to overcome operational, regulatory, and efficiency challenges that simply cannot be resolved by building larger, more resourceful, and more expensive teams.

The industry is already taking the necessary measures to successfully face what will surely be another challenging year. Are you joining us to provide the best services to your clients?

 Contact us 

What does “householding” mean? It’s a group of linked accounts, whether that is for family, generational or intergenerational reasons.

For instance, you can use family ties (my husband/wife, my children or my own accounts) to create a “Household” while investing, giving this group a more accurate representation of the client’s financial situation than individual accounts.

Both, clients and the financial advisor can look at the bigger picture in a holistic way and from different angles in order to achieve the stated goals. Moreover, they can also evaluate the impact of the decision making in a more precise and accurate way as they take into consideration all the relationships. 

But why are “householdings” useful?

• Because they allow you to have a complete understanding and clear vision of your clients’ assets as well as their financial situation.

• They offer you the chance to group, strengthen, divide, segment and distribute the clients’ data and information.

• Financial advisors can produce, prepare and distribute the information in different formats, depending on the recipient, hence offering a better service.

The bottom line is that financial advisors become empowered in order to deliver a top quality service to their clients and ensure that they meet the client’s needs.

That being said, financial advisors must have appropriate, reliable and efficient technology in order to handle households’ large amounts of data and achieve competitive advantages.

Furthermore, these solutions’ architecture must be prepared to:

• Have a strong foundation to be able to add data from multiple sources.

• Visualize data in different levels or layers.

• Protect sensitive data, demanding the application of securitizations that guarantee their confidentiality, integrity and availability.

Another important point to take into consideration are the different investment strategies and types of products that are involved in more complex investments (hedge funds, private equity and alternative investments, amongst others). All of them have different idiosyncrasies that must be considered and integrated properly, as not every Wealth Management solution is compatible with those kinds of assets.

On the other hand, “households” need a more sophisticated risk monitorization, as well as a portfolio tracking, compared to the pre-established goals stated in an Investment Policy Statement (IPS).

In summary, approaching “householding” makes business sense since it brings value to the clients and builds customer loyalty. However, in order to implement this strategy, it’s necessary to measure the effort and tools needed to:

• execute it efficiently

• make it sustainable over time

Tower, our Wealth Management solution, offers a simple, reliable and efficient way to manage all the client’s information: 

https://www.techrules.com/tower-leading-wealth-management-solution/ 

*An Investment Policy Statement (IPS) is a document written between a portfolio manager and a client that outlines the general rules for the advisor. This statement explains the client’s investment goals and aims, and describes the strategies the manager should adopt to achieve those objectives. Specific information on issues such as asset allocation, risk tolerance, and liquidity requirements is included in an investment policy statement.

As 2022 winds down, we’ve been thinking about ways to show appreciation for our clients as well as opportunities to help our communities feeling the strain of this year’s epochal events. So, in the spirit of the holiday season, and in lieu of a traditional gift, we’ve decided to make a donation on behalf of all our clients and from everyone at TechRules to Ukraine, Ayuda en Acción, Research to heal, and we are helping to build a school in Ethiopia—to help and support them with the resources they need most.

We wish you a happy holiday season!  

TechRules has more than 20 years of experience helping financial entities worldwide with their digitalization and providing them with the most innovative solutions in the market so that they can offer their clients investment platforms with the highest quality.

Digital transformation is challenging for most financial institutions nowadays and, sometimes, they find obstacles along the way such as lack of knowledge, resources, methods and, especially, shortage of efficient solutions. However, the benefits they gain with digitalization are considerable: they become more flexible and agile with client management, they get access to updated data resulting in an increase in productivity and team efficiency. Additionally, another key factor is the ease of communication with their clients, decreasing associated costs and improving the entities’ position in the market. 

Considering the technological evolution of our society in the last few years (approximately, 3 of every 10 cybernauts in the world have used banking applications, highlighting countries like Denmark or Finland where more than 90% of their population make online financial operations), this digital transformation has became a much needed aim for financial entities, being requested by the vast majority of their clients. That’s why banks from all over the world are constantly innovating, evolving and trying to find new ways to stand out from their competition. Because they are aware of what their clients and investors expect from them: a 24/7 reliable, personalized, efficient and quality service, with the highest level of security and performance.

We also have to keep in mind that, when financial entities do things well and their products meet customers expectations, increases in demand happen. In order to manage those situations it’s important to have a flexible and highly scalable infrastructure.

Because of this, TechRules, offers financial entities a very successful SaaS model that allows them to install the solution in the cloud without the need to make further investments in infrastructure. The benefits are significant, including cost savings, more flexibility (they are accessible from anywhere as well as customizable and scalable), more secure (implementing the latest protective measures), and TechRules being in charge of their maintenance and updating.

In summary, it’s essential to have customer-oriented and quality resources, methods and solutions with the highest level of security and efficiency to be able to offer your clients new and better software solutions such as:

– Tower: It’s a 360-degrees Wealth Management platform that helps financial advisors to efficiently manage a large number of customer portfolios and investments. This advanced APIfied software allows, amongst other things, to design model portfolios, make investment proposals (including ESG models), prepare personalized and automatic reports for each client, offer strong financial planning, and even run marketing campaigns to increase advisors’ productivity.  In addition, it offers a complete CRM with alerts that makes daily activity management easier. That is to say, the asset manager will be able to automate the investment process in order to minimize potential data errors and exponentially increase the ROI.

– Robo Advisor: We introduced our Tower platform within the Robo Advisor’s financial platform. This hybrid Wealth Management solution offers discretionary management and combines digital and traditional advice. It’s a multi-goal, multi-country and multi-currency platform, and it’s also able to customize investment advice to any kind of investors, depending on their goals or risk tolerance. It’s important to be able to offer a strong Onboarding that complies with regulations as well as carefully and independently tracking each client’s action on the platform.

– Model Portfolio Services: We offer advanced consultancy services that use artificial intelligence to create appropriate model portfolios for each investor and entity, depending on their risk tolerance. Our team of financial experts is responsible for analyzing qualitative and quantitative data from 10.000 local and global funds in order to develop the best investment strategies for every client, depending on their profile and goals. Moreover, our consultants also offer full support throughout the investment process, besides carefully following each client’s investment and writing detailed audit, commercial and investment reports.

We also provide financial entities with APIfied solutions thanks to our Wealth Management API marketplace so they can create their own Robo Advisors or custom-made solutions, showing them the automated steps to be followed. Our APIs can easily be integrated with in-house or third party solutions, they have a reduced time-to-market and meet the highest security standards. Furthermore, they also meet MiFID II and local regulations of each country. 

All the Wealth Management solutions mentioned above meet the highest security standards. TechRules takes security very seriously and we commit ourselves to protect our clients’ data as we are very aware of  the threats and dangers of financial institutions to suffer cyber attacks and the massive problems and losses that can lead to (not only financially but also regarding data, time or reputation). Moreover, that can also cause important issues to their clients. Because of that, our platforms are developed in a way that allows us to prevent security problems from the bottom as well as offering the maximum level of protection and meeting demanding international legislations.

Ultimately, we know the value that we have given to our clients over the years, growing in different segments and countries with them. Our extensive experience in the industry and innovative solutions are our foundation to help you offer the best services in the market to your clients. Our goal is to continue improving and innovating our solutions so that we can fulfill our client’s most demanding requests and requirements. 

We will be pleased to assist you with your digital transformation and become your software provider. Let ‘s talk!

TechRules attended the 5th edition of the Rankia Funds Experience organized in Valencia showcasing our innovative Wealth Management solutions

This event gathers important national and international asset management professionals every year and TechRules didn’t want to miss it. In this case, Javier Carrallo, Senior Business Development at TechRules, introduced some of our most useful Wealth Management solutions amongst fund managers, placing great emphasis on Tower and My Portfolio:

– TOWER: It’s a 360º advisory and discretionary management platform that helps financial advisors to manage large amounts of portfolios automating their client’s investment process. Moreover, it allows asset managers to follow their portfolios’ activity and make personalized investment proposals to each client according to their investment profile, goals and risk tolerance, along with solid automatic portfolio reports. It can also be installed on both SaaS and On Premise.

– MY PORTFOLIO: It’s an investment monitoring tool that helps asset managers to quickly follow-up on their client’s portfolios and investments. Additionally, this solution also allows creating portfolios, comparing their investment’s risk levels and profitability, and sharing the results with the rest of Rankia´s investment community.

Generally speaking, our Wealth Management solutions will help entities to exponentially increase their ROI since they minimize the time dedicated to repetitive and administrative tasks, and they accelerate the process of acquiring new customers. They also meet the highest security standards and comply with the current regulation in every country. 

TechRules has more than 20 years of experience offering innovative solutions with the highest quality and security levels to fund managers, private wealth managers and banks worldwide so that their client’s can have the best possible investment experience.

Do you want to know more about it? Contact us!

If before the pandemic, private banking was heading towards digitalization of transactional operations, after Covid-19 we can safely say that digital tools have increased exponentially. A few years ago, financial entities started strongly developing a hybrid consulting methodology for investments, where customers can get digital recommendations thanks to Robo-Advisors with advanced algorithms without losing personalized attention and human interaction with their advisors.

Hybrid Robo-Advisor prototypes offer important benefits when scenarios like the following arise: if clients are skeptical, tend to question advice generated from machines and prefer to rely on investment managers; when investors have a personalized and professional treatment so they can balance their fiscal and financial goals (collection of tax losses, financial plan, net worth estimation…); or when customers have uncertainties (especially in this current situation when the markets are very volatile and unpredictable) and want their doubts and concerns to be personally addressed by financial advisors. Ultimately, those are customers who rather have a hybrid advice that combines Robo-Advisor tools with traditional investment managers that they are willing to pay for. That is to say, they find comfort in talking in person with experts.

Moreover, as markets have been fluctuating lately as a result of the stressful and uncertain times we are living in, these types of hybrid investment platforms could have an exceptional impact and return to entities.

In the specific case of our hybrid Robo-Advisor, investors will have access to a platform where they can complete a survey about their goals and risk tolerance. Depending on the result obtained, the Robo-Advisor will recommend to them the portfolio to invest in that best suits them based on the type of investor profile they are (conservative, moderate or aggressive) and after doing an exhaustive market analysis.

That way, they will be able to manage their wealth in a more efficient way but, constantly staying in touch with their financial advisors, who will personally verify and process their investments bringing an extra value.  

Another differential point of our Robo-Advisor is that it can be both on SaaS (uploaded in the cloud, which is the option chosen by most companies) and “On-Premise” (on the banking entities’ servers). On the other hand, TechRules hybrid Robo-Advisor is multi-currency, multi-product and multi-segment. Therefore, every banking customer segment has access to this hybrid approach (young and mass affluent investors, affluent investors, high net worth and ultra high net worth investors).

Furthermore, TechRules’ Robo-Advisor complies with each region’s regulations and is specifically adapted to european legislations such as MiFID II and SFDR that obliges customer’s environment investments preference options to be included in the suitability survey. The Robo-Advisor is a digital solution that offers an investment portfolio management software and, therefore, we have adapted our product to be able to offer thematic model portfolios – including ESG, onboarding questionnaires, compliances checks and taking into account your reporting needs.

Additionally, TechRules’ Robo-Advisor also provides high-quality support and even a specific SLA if it is required.

In summary, this huge technological and financial breakthrough will let financial entities take advantage of the best of each worlds (digital and face-to-face) and offer its clients superior customer service to manage their investments. 

TechRules has been helping financial advisors to reach their goals for over two decades. Now, we are taking a step further and offering our international experience with digital solutions and Robo-Advisors to provide our customers with a hybrid answer for their final clients.