Invsta recently launched a handy digital investment experience checklist for fund managers to plot their digital roadmaps. Given the rapid pace of digital adoption, there has been immense pressure for financial service providers to leverage technology and create a digital-first experience to satisfy clients’ digital expectations in light of Covid-19.

“Over the past year, we’ve been in talks with numerous fund managers who are wanting to grow their market reach by tapping into the next generation of investors. These potential investors have grown up with technology and expect a digital-first experience that mimics the BigTech giants such as Amazon and Facebook.” says Rachel Strevens, Invsta’s Founder and CEO.

The checklist goes on to mention that CapGemini data states that up to 90% of HNWIs under the age of 40 indicated that they would be willing to adopt offerings by BigTech firms. With the launch of the Apple credit card last year and Google’s plans to offer checking accounts, the threat of BigTech encroachment into wealth management could soon become a reality.

Strevens indicates that the idea for this digital investment checklist came about after noticing that many companies they were speaking to struggled to identify what technology they needed. “This checklist is designed to help executives measure what functionality and tools are present or missing from their current offering. It’s a great tool to assist with the direction of their technology roadmaps.”

The checklist represents an ideal-state of digital functionality needed for fund managers to navigate the new online landscape. It uses a RAG system (red, amber and green), or a traffic light scoring system, making it easier to clearly see what needs to be done, what has been done and what is currently in the pipeline or pilot phase. Some of the key functionality mentioned includes digital onboarding, financial calculators, robo advice and user analytics.

“We’ve had such a great response to this digital investment checklist from our stakeholders, so we’ll be drawing up similar checklists for wealth advisors and KiwiSaver providers in the future.” says Strevens.

Her number one tip when it comes to creating a digital roadmap? Start with quick, easy projects, or lighthouse projects, to get the roadmap underway. Strevens goes on to mention that in her experience, successful digital projects are those that focus on getting the smaller projects done first. This approach helps to kickstart the digital roadmap and build up momentum to tackle more complex projects later on with confidence.

Download a copy of Invsta’s Digital Investment Experience checklist here.


Frankie Roberts

Frankie Roberts