Visualizing the Rise of Digital Investor Platforms During Covid-19 The unmatched social and economical crisis, followed by the covid-19 pandemic has enabled people to find the potential of digital investing & finances in assisting millions of people around the world, favoring businesses and protecting jobs. While the pandemic exhibits the instant benefits of digital financing, it’s attracting investors and wealth creators that are always looking forward to capitalizing on their financial investment. Though, many other next-Gen innovations are supporting them with more efficient tools to accomplish their goals. Advanced techno-enabled solutions are increasingly being leveraged by the digitally active population, as a reflection of nearly 65% surveyed wealth creators and financiers considered digitalization a must in 2019. Data collected from the Raconteur shows the advantages of increasing digital investing platforms amid the covid-19 pandemic. Also, it defined the sentiments in human vs digital interaction and how it affects the customer experience, which is undoubtedly the primary goal of all. Gauge through the possible benefits of the next-Gen investor reporting software and other digital solutions to streamline funding, managing, and reporting.
Amazing Features: Best Benefits According to a survey of 1,000 investors, a majority of 90% of wealth creators consider customized investment advice as the most important and unique feature of any fund manager software. In the second place, 52% of them showed interest in an investor portal providing easy access to data. Here are some other benefits that remain first in the mind of investors when it comes to adopting digitalization in investment.
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45% want the best return on investment possible 44% of all wealth managers seek customized, faster, and simple reports 39% look for personalized portfolio 39% want fund manager software for customized budget 38% wave for the regular advice for optimizing financial health and streamline the process
But the concern is how finely these applications can perform in the day-to-day investment scenario.
The Rise of Technology in Investment by the Numbers There are numerous investor reporting software that has dramatically increased popularity, but still are a step behind in the mainstream in the digital investor platforms. Categorization of Fintech by Adoption Rate, 2015 to 2020 Category
2017 Adoption Rate 50%
2019 Adoption Rate 75%
2020 Adoption Rate 90%
24%
48%
87%
Savings and investments 17%
20%
34%
65%
Budgeting and financial 8% planning Borrowing 6%
10%
29%
50%
10%
27%
35%
Money transfer payments Insurance
2015 Adoption Rate and 18% 8%
As you can see the borrowing apps have the lowest worldwide adoption rate that accounts for only 35% of the digitally active population in the world. Nearly 90% are using money transfer and payment apps that are self-powered or powered by their banks.
Human vs Machine: Difference that Customer Feel What do you think, do the machines or humans have expertise in managing your investment better? This question asked 2,000 investors in a survey run by TD Ameritrade, which of the following situation would be handled better by both humans and machines, with mixed results;
Humans
Machines
Capable of asking and answering questions on investment
Contain all information at once that can be accessed anytime from anywhere
Comes with investment experience
Best return on investment
Affordable & precise investment suggestions Ability to increase returns and reduce taxes Constant suggestions to optimize financial life
Quick yet unique financial analysis to bring tailored solutions
Customized budget planning
Customized portfolio with regular updates and suggestions
If it’s about managing tasks including calculation, update, and portfolio optimization, the big size of wealth managers would like to work with a fund manager software or investor reporting software that would be better suited for the tasks in-hand. Though the majority of investors want a human interface when it comes to investment concerns personalization or financial advice.
Digitalization and automation of the manual processes have been welcomed and adopted in many industries. While digital investing is still in the early stage, wealth creators can customize customer experiences with this sudden rise of digital investor platforms during the covid-19 pandemic. And, private equity software solutions were, of course, required to ensure success in the future with a seamless customer experience.