BANKING
The recent economic downturn has had a sharp impact on investors . Inflation is higher than it ' s been for 40 years and unpicking the pitfalls of the market crisis places even greater pressure on investment platforms to perform well . But what lies ahead for investment technologies , and how can customers protect their interests in the face of such uncertainty ? Liam Gray , Fintech Growth Account Manager , Plaid , says the biggest shift has been the influence of technology in helping to reduce the barriers to entry . In the past , investing was seen as a niche among those with significant financial experience or capital , but that has changed .
“ Investing has moved from woodpanelled offices to the internet . Through technologies like Open Banking and APIs , providers have made the digital-first investing experience far more seamless and customer-friendly . Now , with firms like
Shares or
Nutmeg , anyone can invest and trade their money from their mobile in just a few clicks – essentially , all that ’ s required is a mobile phone .
“ In addition to retail trading , many longterm financial planning apps and services have emerged from companies like
Moneybox to Pensionbee , to make it easier for people to contribute to and manage their retirement funds .”
According to Finn Houlihan , Managing Director of Arlo Group , it ' s important to consider the history of investment platforms and why they transformed so significantly over the past decade . “ Going back 10 years , many clients had funds held directly with the institution , such as Invesco , JP Morgan or HSBC . From an admin perspective , that