future & technology- aspect 1 & 3
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Future-of-Retail-Banking_5-Year-Vision.pdf

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Matt Senkow's comment, April 3, 2014 10:21 AM
7) Just like other corporations are now able to market towards customers based on how they utilize technology, financial institutions will soon be able to do to the same. Banks will be to tap into your social network. With this they will be able to see things like, a change in your relationships, determining what you plan to buy based on your google searches, and realize you have moved based on your molbile location.
Matt Senkow's comment, April 3, 2014 10:27 AM
8) The way we identify individual is also changing. As people spend more time in digital environments banks will need to provide authentication and identity management.
Matt Senkow's comment, April 3, 2014 10:28 AM
cont. Examples of this would be retinal scanning, or confirming that an individual is a legitiment contributor when posting a comment on the web.
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12 Advisor Trends That Will Shape the Next Decade

In this month s issue, FP Magazine examines the future of financial planning not in 2014 or 2015, but in 2023.

Via AdvisoryQuest
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Matt Senkow's comment, February 12, 2014 10:03 AM
2)In the next 10 years numerous smaller firms will need to merge with larger firms in order to deal with new regulations. Technological advances will help cut costs though as increased compliance rules will continue to be a burden.
Matt Senkow's comment, February 12, 2014 10:03 AM
3) With the most recent generation watching as thier parents deal with a lot of debt many planners say that those kids will try not to have the same fate. Those younger generations, many say, will use online tools in order to become more proficient in financial literacy. This could change the relationship between the client and the planner in the future.
Matt Senkow's comment, February 12, 2014 10:04 AM
4) Artificial intelligence is constantly developing. Many new developments in planning technology are already underway. Some of this new technology will, in the future, allow software to monitor clients social media and other personal accounts in order to inform the planner of changes in a clients life. The planner can then contact the client and inform them that they should change their financial plans
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MyRAs Are a Nice Idea But Barely Dent the Bigger Problem, Bloomberg Editors Argue

MyRAs Are a Nice Idea But Barely Dent the Bigger Problem, Bloomberg Editors Argue | future & technology- aspect 1 & 3 | Scoop.it
President Obama wants to give low-wage workers a new way to save for retirement.
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Matt Senkow's comment, February 13, 2014 10:06 AM
7) Very few Americans are saving for retirement. Only 1 in 2 employees have access to an employer sponsored retirement plan. Of the ones that do have access to such a plan less than 10% actually make contributions to it.
Matt Senkow's comment, February 13, 2014 10:12 AM
8) Since the US is going to end up dealing with a "retirement savings crisis", President Obama has created a plan that will allow individuals to make contributions to an IRA that is sponsored by the Treasury Dept. He has named this program MyRA. Many individuals are skeptical of the program, and many say it will not solve the actually problems since many people do not contribute to plans they already have access to, but it is clear that our current way of saving for retirement is going to have to change in the future.
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Our Financial Future: How Banking and Money Will Change - U.S. News & World Report

Our Financial Future: How Banking and Money Will Change - U.S. News & World Report | future & technology- aspect 1 & 3 | Scoop.it
U.S. News & World Report
Our Financial Future: How Banking and Money Will Change
U.S.
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Matt Senkow's comment, February 17, 2014 10:06 AM
9) Banking is going to change significantly within the next 10-30 years. Many new ideas are currently being tested including 3D video banking. 3D video banking is similar to a video conference except that the bank representative looks like an actual person. With this idea the rep also sounds as if they are in the room.
Matt Senkow's comment, February 17, 2014 10:10 AM
10) Within the next 10 years the way we confirm identities over the phone or in person is going to undergo many changes. Identity confirmation will soon be done through biometrics, facial recognition, or voice recognition. This will allow more technology to be brought into the banking field while also deterring criminals.
Matt Senkow's comment, February 17, 2014 10:15 AM
11) Within the next 20 years all basic transactions will be done over an electronic device. The only thing that will need still be done with an actually person will be loans. Even the opening of new accounts will be done over your phone. Already ATM's are being deisngned to work together with a smartphone. They work by letting you do your transaction over your phone and then giving you a code. When you arrive at the ATM you simply have to type in that particular code, then your transaction will take place.
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Recruiting Advisors Will Only Get Tougher For Banks: Raymond James

Recruiting Advisors Will Only Get Tougher For Banks: Raymond James | future & technology- aspect 1 & 3 | Scoop.it
In addition to an advisor shortage, bank programs will contend with the challenge of keeping up with technology and client expectations regarding communication practices.
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Matt Senkow's comment, February 12, 2014 10:13 AM
5) Financial advising firms are going to have trouble finding replacements for older advisors that are retiring because few people are entering the field. Firms will also end up having trouble with the changes in technology. Most of the technology that is changing has to do with communication between the advisor and the client. New software is helping to make the communication stronger so that advisors can learn as much as possible about the client
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Top Advisor Teams

Top Advisor Teams | future & technology- aspect 1 & 3 | Scoop.it
Financial advisors are forming teams of wealth professionals to handle skittish clients.
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Matt Senkow's comment, February 12, 2014 10:28 AM
6) In recent years most advisors have been forming teams. Instead of just the advisor doing all of the work, like it use to be, it ends up being a team of people that do everything. Many teams include an accuntant and trader. Most likely advisment teams will continue to grow and become more common in the future.