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Fintech and wealth management: The winning combination

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The growing presence of Fintech platforms and apps is revolutionizing wealth management and how clients engage with their finances. From intuitive investment tools to personalized financial planning at the touch of a screen, these technological advancements are the future of wealth management.

It is evident that the use of Fintech Apps is not a just a trend anymore, it became a part of every financial journey. Those apps and software solutions offer many advantages, such as financial transparency, real-time portfolio tracking, and simplified investment strategies.

How did Fintech platforms become quickly so popular?

It’s not a secret anymore, Fintech platforms have undergone a revolutionary transformation of financial markets. The use of those platform increased significantly over the last few years, primarily owing to several key advantages:

– Transparency: Transparency ranks among the most critical factors for any investor. The ability to gain insights into the distribution of your portfolio and access financial markets promptly to make informed strategic decisions grants you greater control over your assets and wealth.

– Instant access: Financial markets are known for their fluctuations. Being able to access Fintech platforms within seconds and execute transactions instantly is a game-changer, especially for day-to-day traders.

– Minimal or No Fees: Many platforms actively encourage investors to access their private space with a no-fee client acquisition strategy.

Let’s analyze the current situation and users’ satisfaction.

If we take a close look at J.D. Power 2023 U.S. Wealth Management Digital Experience Study,

Craig Martin affirmed that “more self-directed wealth management clients than ever are logging into wealth websites and apps”. Which proves that number of users, as well as the global user satisfaction, are increasing significantly.

According to this study, Apps are clearly outperforming Websites. Full-service wealth management mobile apps’ average satisfaction score is 776 on a 1000 points-scale. Regarding self-directed wealth management apps, overall satisfaction is at 738 on 1000, which is higher than websites satisfaction score.

Statistics also show that the more users interact with wealth management apps, the higher is the satisfaction score. Investors who use the apps on daily basis have a satisfaction score of 798 out of 1000, 97 points higher than users who rarely interact.

Those statistics are a proof that Fintech platforms are more successful than ever and their presence became a part of every investor’s journey.

The rise of Fintech platforms in the world of wealth management is undeniable, and their popularity continues to soar. With their emphasis on transparency, instant access, and low to no fees, these platforms have become indispensable tools for investors of all kinds. As technology continues to advance, it’s clear that Fintech apps and platforms are providing clients with greater control and convenience in managing their finances.

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