A Modular API Approach to Digital Wealth Management: Launching a Wealth and Investing Platform in Savings, Investments, and Pensions Space

In the past decade, the digital wealth management space has witnessed significant growth. Early B2C robo-advisers paved the way for incumbents like Blackrock, UBS, Vanguard, and Charles Schwab to enter the market with their own robo-advisory models. As competition intensifies, the end customer benefits from transparent, low-cost investing.

Robo-advisers initially aimed to serve clients with low investable assets who were previously overlooked due to the high cost of financial advice. Today, firms leverage robo-advisers to serve a broader clientele, including first-time investors and mass affluent customers. Surprisingly, recent studies indicate that a significant portion of robo-adviser customers have higher income and asset levels.

Retail investors now have access to customised portfolios by answering a few questions to assess their risk profile and timeline. Firms utilise technology and automation to offer more sophisticated alternatives compared to traditional wealth management services. Clients benefit from greater transparency, lower costs, a more comprehensive range of financial products, and enhanced services across multiple channels.

Digital wealth software enables firms and financial advisers to understand how clients respond to customer journeys and market trends, facilitating more effective communication. However, many firms struggle with siloed data and processes, hindering their ability to efficiently serve customers using an omnichannel approach.

To capitalise on the wealth of data available, firms must adopt innovative and agile solutions, such as modular API-based approaches. Modular APIs with a unified data platform offer a flexible base structure that easily integrates new features or removes existing ones without overhauling current systems. This transformational approach helps financial institutions solve technical problems, identify customer trends, and reach the market faster.

At WealthObjects, we offer a fully integrated, modular API-based platform equipped with advanced automation technologies. This enables firms to launch any business model swiftly, whether it’s a purely digital B2C robo-advisory proposition or a hybrid model with human advisers. Our platform seamlessly integrates with existing systems, allowing firms to adapt features or financial products as needed.

Our digital wealth management software effectively reduces operational and technical costs, enabling firms to enhance productivity and agility while maintaining a client-centric focus. By prioritising speed to market and product development for a multi-channel environment, firms can redefine the value delivered to customers.

– Team WealthObjects

Tags :

digital wealth management, robo-adviser, API, modular approach, WealthObjects, savings, investments, pensions, financial advice, customer experience, technology

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