How Robo-Advisors are Satisfying our Demand for Digital

FX-MM features commentary by Alexey Utkin, SVP, Finance Practice at DataArt, on the role of robo – advisors in improving understanding of customers and reducing the cost of financial advice.

Alexey Utkin, Senior Vice President of the Finance Practice at DataArt, suggests that by leveraging analysis of alternative data sources, such as social media, firms can better understand client demographics and their demands. This enables them to be better placed to experiment and tailor investment products for their needs, including offering products that have aspects of social trading.

Another important factor is its potential to be far cheaper to achieve control and compliance of automated financial advice compared to the traditional approach of human interaction, he says. ‘At the same time, digital tools – such as video chats and interactive dashboards – can improve both the customer experience and economics of the traditional model.’ ”

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