Business
Robot advisors and chatbots at the gates?
The Markets in Financial Instruments Directive 2 (MiFID 2) is a set of European Union regulations brought to life for the protection of investors. It will lead to a number of crucial changes, but the most important one is the obligation to first check the clients’ ability to bear losses and inform them about the risks of the given investment. Not only the regulation makes this obligatory but it also provides a uniform framework for this. András Kállay, Head of Private Banking at Erste Investment Hungary believes that Mifid 2 will make expenses more transparent and services cheaper, but it will require major IT developments, as well.
Unlike in other sectors, investment service providers are way behind in Hungary in terms of technological development. Moreover, personal services are taken to ever higher levels. Smart phones and new tech gadgets will have a key role particularly in the premium segment. András Fischer, Head of Innovation, Retail Banking OTP Bank, stressed that you need to be selective, co-operate with fast-moving tech companies and fintech start-ups in order to be able to accelerate developments. That is why OTP brought to life Simple and eBiz to makes sure “the mother ship can be supported by fast-moving corvettes".
Csaba Kiss, Head of Multichannel at UniCredit Bank Hungary is of the view that young generations are not interested in knowing how a bank works, and what investments would be the most suitable for them. Some, however, got used to collecting the available information and that they can choose for themselves. Advisors will always be needed, but so will technological solutions that help recommend investments and transfer information.
A total of 30,000 chatbots are in service on Facebook, exchanging two billion messages a month. Banking services will have areas too expensive to be done by humans.
Chatbots are a technology that may be used also to attract new customers. That is the very reason why Dorsum set up its own chatbot platform Botboarding for, for instance.
Unlike in other sectors, investment service providers are way behind in Hungary in terms of technological development. Moreover, personal services are taken to ever higher levels. Smart phones and new tech gadgets will have a key role particularly in the premium segment. András Fischer, Head of Innovation, Retail Banking OTP Bank, stressed that you need to be selective, co-operate with fast-moving tech companies and fintech start-ups in order to be able to accelerate developments. That is why OTP brought to life Simple and eBiz to makes sure “the mother ship can be supported by fast-moving corvettes".
Csaba Kiss, Head of Multichannel at UniCredit Bank Hungary is of the view that young generations are not interested in knowing how a bank works, and what investments would be the most suitable for them. Some, however, got used to collecting the available information and that they can choose for themselves. Advisors will always be needed, but so will technological solutions that help recommend investments and transfer information.
A total of 30,000 chatbots are in service on Facebook, exchanging two billion messages a month. Banking services will have areas too expensive to be done by humans.
Chatbots are a technology that may be used also to attract new customers. That is the very reason why Dorsum set up its own chatbot platform Botboarding for, for instance.
