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Building digital capability to improve customer channels, ensure regulatory readiness and create operational efficiency


60 Second interview with:


ECN interviewed Former Managing Director, Marketing of Standard Life – Stephen Ingledew. In this 60 seconds’ interview Stephen highlighted his view on key regulatory obstacles and main elements of digital technology in wealth and asset management.

1.     What key pain points within investment management firms can most easily be solved by digital technology?
The pain points that could be addressed by digital technology are improving client experience and engagement to make it more seamless and personal to specific clients needs. Plus improving the regulation and risk management processes experienced by investment firms to make them more efficient and responsive to new compliance rules

2.     What are the key regulatory, economic or cultural hurdles to investment managers adopting digital technology?
The key hurdles in adopting digital technology and internal organisational structures, traditional analogue processes and a traditional culture that does not allow a flexible and responsive way off working and driving improvement in customer experience 

3.     What types of products and services do investment managers most need from providers of digital technology? 
Customer analytic and insight tools would be valuable services for developing a greater understanding of client needs and the opportunities to improve experiences alongside the potential role of artificial intelligence to support client relationships managers deliver a more comprehensive and personalised engagement service to clients

4.     Is it a given that investment managers will increasingly adopt digital technology, or is there still substantial resistance from the industry? 
The industry still has much to do in recognising how new technologies can help deliver improved retention and more comprehensive services thereby supporting the delivery of better customer outcomes along with improved commercial results 

5.     Why will you be joining the Digital Transformation in Wealth & Asset Management Summit, and what do you hope to get out of the event?
The Summit is a terrific opportunity to hear from peers and innovators on how far the sector has come in transforming itself and sharing g how we can overcome the challenges and problems in adapting to an era of disruption and new challenger business models