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The big question for 2016.

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How do you allow your people to use instant messaging compliantly?

From 20 days to seven minutes is the time saving in small business loan approval times that fintech start up Kabbage has pulled off according to McKinsey’s article on breakthrough customer experiences published this month.  Wealth managers used to a rather more leisurely pace – partly hindered by legacy systems and slow information retrieval – should take note.

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How’s the portal going?

By Douglas Orr, CEO of Novastone Media –

I admit I enjoy asking this question of CEOs and COOs at the private banks and wealth managers that I meet.

Only a few years ago online portals were seen as the great leap forward for the wealth management industry seeking to provide their clients with an improved experience online. But that was then and this is now, and the truth is that portals have not really engaged clients.

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“Wealth managers need to embrace the hard things such as Cyber Security and realise there is no manual or business book to give them the answers”

Novastone CEO and Founder Douglas Orr took to the podium at this year’s  Annual PAM Operations Dinner to discuss the risks of cyber security in the wealth management sector.

 “Wealth managers need to embrace the hard things such as Cyber Security and realise there is no manual or business book to give them the answers”

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“Friday Afternoon Fraud”

tumblr_nqx8mfSEYX1tubinno1_1280In The Times online, it is referred to as “Friday afternoon fraud” and after reading the article, I now understand why. It is said to have cost solicitors over £50 million in losses over the past six weeks alone, with gangs prime time for for ambush being Friday afternoons – one of the busiest times of the week within the industry.

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Two thirds of adults tend to agree that the use of technology within the NHS sector will improve efficiency & patient experience.

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A recent survey by YouGov/Trustmarque of 2,010 UK adults, has found that two thirds of adults “tended to agree” that both experience and efficiency within the NHS would be greatly improved through the implementation of more technology.  

What few of them know is that there are already numerous online systems already in place aimed at improving efficiency and patient experience. The only issue is that too many people are unaware of them.

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The next generation & their technology.

An article titled ‘The Digital Native Effect’, published in the CampdenFO recently landed on my table.

In the article, Eva Lindholm, the head of ultra-high net worth Europe at UBS discusses how the “wealth management sector is facing increasing competition from technology firms”.

As we all know, technology is becoming a major driving force both in the world of work and in our personal lives. No matter how much we try to resist it, we know we could not function without it.

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“Digital technology is key” – a Quote by George Freeman, Minister for Life Sciences.

In the video George Freeman, Minister of Life Sciences talks about the challenge in the rising demand for health care. He emphasises the similar struggles that most Western societies are facing and the pressures that the healthcare systems are battling. “Digital technology is key” he states and rightly so. Technology could play a vital role in creating a seamless healthcare system which will reduce the current situation the NHS is facing in regards to waiting times and of course finances. 

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