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(Re-)Launching a Robo-Advisor as a Bank

In: Robo-Advisory

Author

Listed:
  • Theodor Schabicki

    (BearingPoint GmbH)

  • Yvonne Quint

    (BearingPoint GmbH)

  • Soeren Schroeder

    (BearingPoint GmbH)

Abstract

For banks, the securities business for retail clients is increasingly important as an income or revenue source. In recent years, innovative and agile fintechs have challenged the once bank-dominated securities market with robo-advisory solutions. Robo-advisors offer customers intuitive and easy-to-understand digital asset allocation and management. Subsequently banks have recognised the fundamental necessity of digitalising the securities business and are starting this endeavour by introducing their own robo-advisors. In doing so many banks cooperate with fintechs as envisaged solutions can be implemented much faster. However, offering a robo-advisor itself is no sure formula for success. Banks must deal with various challenges and create a strategic and organisational framework for this digitalisation process.

Suggested Citation

  • Theodor Schabicki & Yvonne Quint & Soeren Schroeder, 2021. "(Re-)Launching a Robo-Advisor as a Bank," Palgrave Studies in Financial Services Technology, in: Peter Scholz (ed.), Robo-Advisory, chapter 0, pages 163-186, Palgrave Macmillan.
    • Handle: RePEc:pal:psincp:978-3-030-40818-3_9
    DOI: 10.1007/978-3-030-40818-3_9
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