PIMFA WealthTech, the market network and technology platform created to bring together the FinTech and Wealth and Investment Management sectors, and NayaOne, a leading financial technology company today (20 September 2023) invite FinTechs to participate in a new Tech Sprint to meet a challenge focused on industry-wide client analytics and profiling.
Both PIMFA WealthTech, launched last year by PIMFA, the trade association for the wealth management, investment services and the investment and financial advice industry, and NayaOne, which was recently awarded the highly sought-after Digital Sandbox tender by the Financial Conduct Authority (FCA), are focused on bringing financial institutions and the FinTech ecosystem together to accelerate digital transformation and innovation in the financial services industry.
In an age of increased connectivity and social media use, there now exists a vast amount of structured, unstructured and alternative data about individuals. The Tech Sprint will examine how financial advisers and wealth and investment managers can both obtain and use this data to identify and secure potential clients. It will also focus on how Large Language Models can be best used to provide client support during the pre-onboarding process.
The Tech Sprint will be overseen by a Client Analytics & Profiling Advisory Group, chaired by Prachi Kodlikeri, Technology Director at the investment management company Ruffer.
With technological advancements, Artificial Intelligence (AI) and similar tech-based solutions are reshaping the wealth and investment management industry by enabling enhanced data analysis, automated decision-making and improved client experiences.
AI algorithms can now process vast amounts of structured and unstructured data, including client transaction histories, portfolios, market trends, and news. By utilising machine learning techniques, AI systems can analyse data patterns, identify trends, and generate valuable insights for decision-making.
But while the integration of AI and similar technologies in wealth and investment management is revolutionising client profiling and analytics, challenges related to privacy and transparency also need to be addressed.
If you are a FinTech which fits the criteria and can demonstrate to wealth and investment managers how your technology can help them source, obtain and engage more clients please register your interest at NayaOne here. Registrations are open now and will close on Friday 6 October 2023 at 5pm.
