Some time ago I was invited to Luxemburg for ALFI conference. More than 700 financial decision makers from US, EU, Asia and Africa were present. Back in the old days the most interesting speech was held by a CEO from one of the top 3 investment banks – but not anymore.
Now the presentation of a start-up CEO is more relevant for the audience. The audience, from which most work for top 100 investment banks, was confused about what they heard and how they could bring that to their own work, business unit and bank’s internal politics. To take this to an even higher level of confusion, let me introduce you the concept of Roboblock.
Everyone involved in this fintech hype have most likely also noticed the buzz around Blockchain and Robo-Advisory. Blockchain has the potential to revolutionise the way we distribute wealth and account transactions, like banknotes and credit cards once did. Robo-Advisory is here to stay – like it or not. There are a numbers of factors why the weight of evolution in wealth management is significant today: assets flow to passive investment products, investors pay less and less fees, and regulation increases globally, to name but a few.
But the main question there for you is that how could you utilise all the new technologies to turn the opportunities into profits?
Roboblock is a set of tools to enable the industry to distribute knowhow (advice) and transactions. It enables companies to outsource asset management operations partly or fully, while still having the transparent control and audit trail of everything. For the counterparty it provides an opportunity for setting up additional distribution channels for their services, while they can retain focus on what they are best at. Both can benefit from a full scale Know Your Customer process, pass-boarding wealth and advice, integrated trade order management, and digital compliance.