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How new fintechs and startups can be beneficial to other businesses

More and more wealth managers are using new technologies to streamline their operations and increase customer satisfaction. Among the technologies that are being implemented include the automation of robotic processes (RPA), chatbots, machine learning, APIs and artificial intelligence applications.

In the comprehensive The Digital Evolution of Wealth Management report, Business Insider Intelligence analyzes how emerging technologies such as RPA or AI (Artificial Intelligence) are transforming the heritage management industry, both frontend and backend, by increasing efficiency and open the business to new demographics.

We explain how traditional operators and new startups are applying these technologies to different business areas, and the success they have had in its implementation. In addition, we take a look at the challenges that heritage managers face when they seek to renew their businesses to adapt to the new digital age.

New wealth managers and smarter technology providers are bringing emerging technologies to the forefront to make asset management more efficient in terms of time and costs. These include RPA, machine learning and AI. The big players in the industry are also starting to realize these opportunities.

Technologies can improve elements of consumer-oriented heritage management, such as integration and customer service, to increase customer satisfaction.

Machine learning and APIs can help wealth managers improve functions such as portfolio management, help them stay better informed about regulations, and increase customer satisfaction by offering enhanced and additional services.

However, there are some challenges that heritage managers face when implementing these tools, ranging from the lack of confidence of the customers in emerging technologies to the difficulty of finding the right talent to implement these new initiatives

Describe how the heritage management industry is implementing emerging technologies. It details what technologies they are using and what their specific benefits are. Discuss the potential challenges that heritage managers face when implementing new technologies. It highlights what asset managers must do to remain relevant to their clients.

Published inFintechStartupsTechnology

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