2 minute read
No disruptions during COVID-19: INN8
Mickey Gambale, CEO of INN8, spoke to MoneyMarketing’s editor, Janice Roberts, about how the independent investment platform has coped with the COVID-19 pandemic.
by MICKEY GAMBALE CEO, INN8
How quickly did INN8’s platform respond to the COVID-19 pandemic?
INN8 is a digitally-led business. It was designed and developed for a fast-moving, ever-changing world. This meant that we were fortunate enough to have a team with the mindset to make the shift to remote working seamless. Our systems and processes were designed to be adaptable and accessible securely from anywhere.
We were very quickly able to adapt to the workfrom-home restrictions; in fact, we implemented this procedure almost a full 10 days before hard lockdown was announced in South Africa in 2020. It also meant we were able to help our advisers, and their clients, transition to what we knew was coming, by leveraging our experience for their benefit. Operationally, because of the digital DNA of our platform, there were no disruptions.
What lessons did INN8 learn from the pandemic?
The role of the adviser has been affirmed. In an uncertain time, such as that caused by COVID-19, advisers and the human touch are the elements that can keep clients calm and prevent them from making the wrong decisions. We’ve taken the adviser on our platform from simply surviving in this new world, where they were anxious to retain their clients through a new way of connecting digitally, to understanding that the elegant technology that we provide can be used to grow their business in a digital society where they can create and develop new relationships.
Crises really force people to change. We went from one adviser sharing in 2018 how he had concluded transactions over Skype, having never met the client, to remote and virtual meetings being the norm. That is the resilience of human nature.
How much has INN8’s platform changed since its inception, and looking ahead, what changes do you foresee in the future?
Our vision is to change the way investments are done. This means we are constantly innovating and looking ahead. To us, innovation must matter and must make a difference to the business of our advisers and the lives of their clients.
Our offshore investment platform has seen sustained growth over the last two years and our local investment proposition will be opening soon to our broader adviser community. We believe this will soon become the benchmark for investment platforms in South Africa. Things you can expect from us include more automation where possible, more robust compliant recordkeeping, and even simpler ways to do things. For example, we have on our local platform an OTP-less onboarding process, which is the first in South Africa, and it is FSCA approved.
What differentiates INN8 from other platforms?
Our platform is purpose-built with the adviser at the centre of the design, and it fits their way of doing business. We are using benchmark technology to deliver the solutions required in an ever-changing world, by the best people who provide exemplary service – which is crucial to any investment platform business.
