Most of us have never used technology as much as we have done recently. That doesn’t just go for working from home or Zoom chats with friends; I use tech now to do things I never would have thought possible ten years ago. Financial services can be seen as behind the times in terms of technology adoption, but things are evolving, and the recent pandemic has accelerated the pace of change.
Client demand now revolves around access to information. Clients are proactive and want to understand how their advisors are serving them and how their wealth is being managed. To that end, the popularity of client portals is on the rise.
At Intertrust, we invested €294 million in 2019 to acquire the US-based technology firm Viteos, accelerating the company strategy to become a global leader in tech-enabled solutions. Prior to the acquisition we worked with Viteos to develop our client portal, IRIS.
Technology to meet client need
IRIS gives clients access to key data and documentation for their Intertrust-administered legal entities. It was developed to meet the needs of our clients so one of the most important things I, and our relationship managers, can do is really understand what they’re after.
Client needs aren’t weird and wonderful, they just need to align their wealth management with the rest of their lives. The first thing to remember is that technology is an enabler and it doesn’t replace the high level of personal client service we provide; we must always work to deliver on what’s important. But technology can deliver an additional level of visibility and convenience. For instance, having data available 24/7 through an online portal, where clients can see their information at the touch of a button from wherever they are in the world.
If you think ab...