Last week our Growth Officer, Meaghan Dampsey dove head first into the largest FinTech and Financial Services conference in the world: Money 20/20.

Here are Meaghan’s top three takeaways after listening and learning with finance and wealth thought leaders:

Banking Giants Adopting Hybrid Models – Many of the biggest wealth management firms including, Morgan Stanley, Goldman Sachs, and J.P. Morgan Chase are adopting artificial intelligence tools to enhance their client-advisor relationships and provide their clients with more personalized interactions. Naureen Hassan, Chief Digital Officer of Morgan Stanley, did a keynote speech on the true value of artificial intelligence and that it “lies in its ability to augment and enhance the human element, rather than in its ability to replace it.”

Survival Tips for Wealth Managers: After listening to Naureen and other keynote speakers the key message was that In order for Wealth Managers to survive and thrive  they must embrace these strategies:

  • Step up efforts to adopt a comprehensive digital infrastructure that integrates every aspect of their activities and corporate culture, from the back office to how they service clients and market to new prospects.
  • Harness the potential of digital technology to realize greater efficiencies, manage costs and advance their core client proposition by drawing on a much wider range of available data.
  • Firms should also be willing to partner with fintechs to deliver technological solutions at the speed the market expects.

The Importance of Digital Inclusion – Maya Chorengel and Michael Schlein from Accoin, showed the power of what digital identity can bring to the world as it relates to access, giving people a inclusive way of proving identity and therefore participating in and contributing to economic  growth. Digital inclusion has the potential of giving people a secure way of living, accessing health care, education, infrastructure, and finance. Identity tech is a “must happen” for financial inclusion and social good.

Enhancing client trust and advice giver performance were dominant themes at this year’s Money 20/20  – Responsive’s Hybrid Wealth Advisor solution is designed to do both.

If you’d like to learn more, or see a demo, please get in touch: