JUNE 3, 2021

Turn the must-do into opportunity with


Kurt Vanhee

League Managing Director

Reading time: 2 min


Acquiring new clients and retaining existing ones is what we all want. Today’s customers expect more than ever qualitative, instant and hyper-personalised service.
Therefore, it is essential to collect all possible data from clients and use it to their maximum potential. In the near future, the usage of this data in automated processes will become key in Wealth Management business models. Hyper-Personalisation will be introduced in all automated client interactions. Systems and processes should have a focal point on how they can optimize the personalisation of the communication, interaction and content sharing with a client.

Each interaction counts

Each interaction with your client enriches your knowledge of that person. Personal information and client’s preferences should be captured across the whole client journey, at all different touch points.

Client Profiling is one of these regulatory mandatory interactions where you have the chance to hyper personalise. Many banks have simply digitalized their existing questionnaires, without creating a digital native experience, thus not making any differentiation between them.

Studies of the Chartered Financial Analyst (CFA) Institute have shown that standard risk profiling processes based on questionnaires, explain less than 15% of the variation in risky assets between investors. Banks can get a better understanding of the client’s preferences, and hence can provide hyper personalised investement proposals, by adding customised and past experiences in the equation.

And indeed the Investement Proposal in the advisory process is another point where differentiation can be achived based on a hyper personalised approach. Not only from a content point of view, but also based on the channel that is used to interact with the client. Clients are asked for their preferences in investing. Storing and using all this data gives banks and wealth mangers additional insights that will increase the customer sevice and success rate when selling products.

Serve your (pre-)customers

Brands like Amazon, Spotify and Netflix to name a few, have all focussed on hyper personalisation since many years when offering their services to the market. Think about the “pre-client” experience they offer, even when you’re (still) not a customer of services like Amazon Prime or Spotify Premium.
You can already try and enjoy these services, and then subscribe for the paid offering.This could also apply to the financial services business. It’s time to rethink the must-do onboarding process and turn it into a commerical opportunity. Discover how to leverage investor risk profiling, gamification and behavioral technology to boost conversion of digital onboarding processes and enable superior advice for a long-term relationship: register now to the webinar where Objectway and EveryoneINVESTED will reveal you how to get it.