Technology and data have changed most industries, enabling development of more focused products, greater understanding of client behaviour, efficiency of product delivery, reduction in costs and ultimately increased client engagement.
With the financial world moving to continuous accessibility, empowered by technology and consumer demand, PureGroup is providing the tools and services to support this engagement. We see significant challenges in the market around the efficient communication of information between all participants in the value chain.
As the Investment and Savings market responds to the significant changes from RDR, pension reform, and wider cultural changes, companies will need to utilise digital engagement technologies to address the changes to their traditional and future client base. Clients will demand greater information on demand, and such information will need to be more consumer orientated, all against a wider backdrop of lower industry margins.
With a multi-layered and fragmented investment and savings market, communication of information between participants is slow and unstructured. This ultimately impacts the ability of companies to provide superior levels of service to their clients.
Regulatory and Governance
Increased regulatory and governance oversight of financial services has pushed all participants to focus on becoming more client centric. The changes in UK and European regulations will continue to require companies to evidence their ongoing assessment as to the suitability of both the investments that they recommend and also of the clients that they service.