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Digital conversion from wealthy savers to first-time investors!

everyoneINVESTED is the wealth tech spin-off of KBC, offering omni-channel investment journeys for life that bridge the digital distance between your clients and your investment solutions. everyoneINVESTED partners with Fincite for mobile integrations. This article introduces two such integrations that lift net sales of digital investments to higher levels.

A silver lining of COVID-19 is that COVID-19 gave society in general a digital boost. Yet, investments continue to be the least digitized financial product. Conversion rates of a digitized investment process fall way below the conversion rates at a branch. How then can we improve digital conversion? How can we lever the expanded reach of digitization to approach for example the many banking clients that do not yet hold any investment? Let’s look at two aspects of this challenge: end-to-end digitization and addressing first-time investors.

The digitization of investments in many cases restricts to automating the processes we know. But it takes more to engage investors digitally. The challenge is to preserve the human touch and take care of the emotional component of investing. Conversion rates substantially improve when powering your process with behavioral finance findings, the key expertise of everyoneINVESTED.

Use case: The API toolkit of everyoneINVESTED includes The Profiler, a solution that replaces and improves the questionnaire for risk profiling. Pushing the questionnaire on the screen of a smartphone is known to kill conversion, apart for its poor ability to anticipate future investor behavior. The Profiler is “fun”, which contributes to its high conversion, and crucially improves the mapping of investor preferences very much in line with regulatory suitability consultations. The Profiler is operational and has been living up to the expectations indeed.

 

Addressing wealthy savers, hence clients that do not hold any investment, requires a particular mindset and vocabulary. Those clients are not interested in hearing a story on diversification, preservation of purchasing power or bonds versus equity. Presenting the same situation from a different perspective, which is crucially their perspective, makes a big difference on the decision- making.

Use case: The API toolkit of everyoneINVESTED includes The Conversion Engine, a solution that turns your mobile banking app into a digital conversion engine. The API literally converts savers into first-time investors. The solution seamlessly integrates into your process. The API takes as input pseudomized client-specific financial data. The API presents you on a golden plate the order request for a first investment, ready for execution.

 

by Jurgen Vandenbroucke,  managing director at everyoneINVESTED
Contact: jurgen@everyoneinvested.com

 

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