FinTech Webinar Examines Wealth Management Technology Trends
SAN MATEO, Calif. - Thursday, July 31st 2014 [ME NewsWire]
(BUSINESS
WIRE) Leaders from major financial technology start-up companies
Xignite and Wealthfront, join guest speaker Bill Doyle, Vice President
and Principal Analyst at Forrester Research, Inc., to provide their
insights into a new digital era, which is revolutionizing the wealth
management sector and challenging traditional wealth management advisory
models.
In a webcast, now available, Stephane Dubois, CEO and
Founder of Silicon Valley-based financial cloud-based market data
provider Xignite; guest speaker Bill Doyle, Vice President and Principal
Analyst at Forrester Research, Inc.; and Andy Rachleff, Executive
Chairman of Wealthfront, an automated investment service provider,
examine and discuss the key technological drivers that are making this
revolution possible and provide their views on the future for the wealth
management industry.
The financial services industry has undergone
significant changes in the last twenty years with the proliferation of
digital technologies that have made traditional bank branches and models
of service almost obsolete. These developments have set the stage for
the arrival of new FinTech companies entering the wealth management
space, who are challenging the status quo by better serving the needs of
wealth management customers through delivering advice and information
using technology.
Millennials as a generation are digitally savvy and
have more than $2 trillion in investable assets, a number that is
expected to rise to $7 trillion over the next five years. This is
creating market opportunities for FinTech standouts such as Wealthfront,
who are providing their own online wealth management advice platforms
which deliver information and advice through the digital channels.
According
to Rachleff, the growing investor appetite of Millennials, coupled with
their comfort with digital channels and the rapid technological
improvements such as more usable software and more efficient information
delivery have created the perfect set of factors for revolutionizing
the wealth management and advice space.
“One of the biggest drivers
of the changes we are seeing in wealth management has been availability
of data. In order to rapidly innovate in today’s competitive market, you
need access to data,” said Rachleff.
“Companies like Xignite are
fueling the wealth management technology disruption by providing
start-ups with easy-to-integrate and affordable data that is delivered
using financial data APIs. This has enabled companies like Wealthfront
to access information electronically, which has significantly reduced
costs. Ultimately, up and coming start-ups now have access to
information traditionally they could not afford.”
“Market data is the
lifeblood of FinTech and firms rely on the flow of data coming in from
the market in order to build a business,” said Dubois. “At Xignite, we
demystify the world of market data and make it affordable to the broader
marketplace. Driven by client demand, the wealth management digital
revolution is an extremely popular business vertical and we are pleased
to be driving the innovation through our scalable offering.”
Key
insights into the Wealth Management Digital Revolution are available on a
webcast. The panelists discuss a variety of trends rapidly evolving in
this space, including:
Why Venture Capitalists are pumping money into FinTech
What Millennials expect from an investment service
The technologies that enabled Wealthfront - ETFs & data APIs
What FinTech startups need to know about market data
Contacts
Xignite
Kerry Langstaff, 650-242-4466
klangstaff@xignite.com
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