A wrap-up of the FSC Generations Conference 2020

The recent Generations conference was jam-packed full of engaging debates, conflicting theories and brilliant insights from some of New Zealand’s experts in the financial services sector. One recurring theme kept popping up in almost all of the discussions: how financial service providers could be better at guiding and coaching clients to improve their financial and overall well being. As Gary Green, managing director of Quanton, so brilliantly put it, it is evident that technology will play a massive role in “democratising access to advice”. Invsta’s Founder and CEO, Rachel Strevens, elaborates on this concept further in her latest article on how robots, digital tools and humans can bridge the financial literacy gap.

The role of fintech in shaping the wealth of next gen investors

Strevens was invited to be part of the panel that discussed the sweeping changes to wealth investment and the role that fintech has to play. Fintech is fast becoming the tool of choice for providers to offer a more comprehensive and supportive service to new market segments. Strevens addressed the elephant in the room by indicating that “technology is never going to replace the use of advisors.” A common misconception is that human advisors will start to play second-fiddle to digital tools as trust in technology grows.

“AI (artificial intelligence) is like a toddler. It can do a few things, it can also make a mess. But as we school it, it will become more and more useful.” Stephen Upton, COO of Kernel Wealth said. Strevens echoed these sentiments, stating that “digital can help advisors service a market that can’t access the traditional advice model.” With the processing power that AI can potentially deliver, this technology could play a pivotal role in servicing investors further down on the wealth spectrum, providing much needed guidance and advice to navigate market volatility.

Pitch Perfect and Tech Alley

As part of our commitment to ensuring that the financial services industry thrives in the face of digital disruption, Invsta proudly exhibited at the conference under the Tech Alley section. We were also invited to be part of the Pitch Perfect session, of which Invsta came out tops alongside Taxoshi, an innovative reporting system that calculates tax on crypto-currency investments.

Our solutions are centred around helping companies to reduce costs, improving access to financial products and advice, and delighting investors with ease of use and digital engagement. The Pitch Perfect session was an incredible platform for Invsta to showcase our digital interface solutions and modules to industry leaders in the New Zealand wealth management industry. As a result, we’re really excited to be working on a growing number of new projects that include digital onboarding and online investment solutions.

Frankie Roberts

Frankie Roberts