Finantix Continues To Extend Product Offer With Integration Of Next Best Action
SINGAPORE, Sept. 15, 2020 /PRNewswire/ -- Finantix, the global provider of digital enabling software for the banking, wealth management and insurance sectors, announces the integration of Next Best Action into its award-winning and innovative product suite. Next Best Action leverages the power of AI to provide highly personalised financial advice through an accessible user interface that is as understandable as those from top-tier online sales and media platforms. It is a unique combination of Finantix' advisory components and InCube's deep expertise in quantitative finance, AI and data capabilities, and is ongoing evidence of the added value InCube brings to Finantix following its acquisition by Finantix earlier this year.
Wealth managers, relationship managers and advisers in private and retail banks are under continual and growing pressure to reduce operating costs and maximise profitability, while at the same time providing the highest quality service to clients. To meet these requirements, banks are increasingly moving to digitalise their core business processes.
Using machine learning to leverage the power of data from multiple sources, Next Best Action provides Wealth managers, relationship managers and advisers with appropriate product and client ideas and recommendations at speed, removing the need for time-consuming manual collection and evaluation of information, and lowering the cost of servicing clients.
Benefits of this approach include:
Dr. Boris Rankov, Co-founder of InCube Group AG said: "Digital transformation within the banking industry is a complex process, most quickly and cost-effectively achieved by using specialist providers with modular, API based solutions that fully integrate with existing systems. Both InCube and Finantix have a proven track record of successfully implementing digital projects and Next Best Action is an example of how InCube's expertise in AI has found synergy with Finantix's proven front-end technology."
Next Best Action delivers information at speed, freeing relationship managers up from the process of manually compiling data from multiple sources. Smaller value clients can now be given the level of proactive, personalised service that might previously have been reserved only for High Net Worth Individuals, including being offered information and advice that fits with their interests and portfolio. This can help banks maximise their return per client, as well as increasing client satisfaction.
Christine Ciriani, Chief Executive Officer of Finantix, said: "I am very proud to see Next Best Action integrated into our advisory product portfolio. Leveraging insights and preferences to personalise recommendations allows banks to increase the conversion rate of proposals and grow client loyalty. Next Best Action opens the door to the democratisation of private banking, delivering private banking service levels to more clients."
Finantix and InCube will host a series of webinars explaining how Next Best Action can help wealth managers, relationship managers and advisors deliver a more engaging, personalised and efficient experience to their clients.
Tuesday 29th Sept: 9:00am BST / 10:00am CET / 4:00pm SGT
Thursday 1st Oct: 9:00am BST / 10:00am CET / 4:00pm SGT
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For over two decades, clients and analysts have recognised Finantix as the leading provider of trusted technology to the worldwide financial industry. Applying deep sector knowledge, we empower wealth managers, insurers and banks to digitally and intelligently engage with clients and provide insightful and compliant advice. By injecting artificial intelligence into a comprehensive yet modular, API-first platform, our proven technology enables holistic customer intelligence, sales and servicing productivity and individualised omni-device experience.
Our flagship platform can run in the cloud or be deployed as services that can help turn routine transactions into valued and collaborative interactions. It serves multiple actors across financial services organisations and is proven across multiple devices, languages, currencies, jurisdictions and regulations. We operate from offices across Europe, North America and Australasia.
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