Despite economic challenges, the WealthTech sector continues to attract large interest from financial institutions and investment firms.
A recent report from FinTech Global found that $17.7bn has been invested across 958 deal since the start of the year. With the sector generating a lot of investment, FinTech Global sat down with Fredrik Davéus, the CEO and co-founder of Kidbrooke, about the trends of 2024.
One of the trends Davéus pointed to was the continued hype around generative AI. More firms are looking to incorporate generative AI capabilities into their services to improve advisor and client experiences.
However, one of the common use cases for these types of tools is a chatbot solution that allows clients to ask questions. A challenge for this in wealth and financial management is that the user might not know what questions to ask or they could want support with investing, but now know where, how or at what risk level. The way to avoid this is through an orchestration layer, Davéus explained.
For more insights into trends leading the WealthTech sector, watch the video here.
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