Please summarize the idea behind your business model.
Through 19 years of experience in portfolio management software, we have made a steady evolution “in the eye” of the client. We were always confronted with the benefits of the application for the client. We understand that banks’ IT needs to be heavily involved right from the start. Being “involved” also means that the bank IT can “play along” in the design and during the ongoing process. Our central product catalogs are: Portfolio Analytics & Reporting Service Infrastructure, Digital Portfolio Management, Advisory Services and Risk Engine.
What advantages or added value do you offer to your customers?
First and foremost, we address the problem of financial institutions having to reinvent themselves. We create the basis for creating a transformation process for the automation and digitization of investments. With our innovations, we enable financial institutions to offer digital “value-added services” in customer segments that have not previously experienced this.
aixigo has further expanded the features of the High Performance Portfolio API. It accepts large amounts of data as a raw material of legacy systems, refines them quickly, massively and flexibly to information and makes them available to all customer systems. The aixigo API currently comprises almost 100 services. Each of these services is individually configurable via call parameters. For digital asset management, the API provides all the processes and functions required for a bulk business. Thus, the asset management service becomes suitable for the masses and is no longer reserved for the very wealthy clients. The flexibility of the REST API enables financial services providers to innovate their own digital customer experience. This can be via apps, chatbots or voice interfaces.
High performance means: aixigo’s API services can efficiently serve millions of portfolios within minutes. Even extremely broad portfolios (> 30,000 transactions, 10-year history) can be analyzed in milliseconds.
How will Digital Wealth Management develop over the next three to five years?
In the digital business, the customer experience is the focus. If that does not work, the customer shuts off faster than we can think. Innovation has become the standard in recent years. We all constantly expect new features from our digital helpers. And it’s about relevance, not pretty animated but irrelevant information. As a financial services industry, we no longer only compete with each other, but with all the others who attract the digital attention of our customers. Our goal must be to get two minutes of daily digital attention from the customer. Two minutes a day, in which he deals with our offers. If you want to be a player in the digital business, its systems have to meet two requirements: Speed and flexibility. And these are also the key criteria for wealth management in the next few years.
Which relevance will personal advice and branch networks have in the future?
Personal advice will continue to be an important component. But for sure, much of the personal advice will be communicated through other channels in the future. Digitization is able to establish personal contact with the same emotions as you know from a four-eye conversation. Especially as the current generation is extremely used to digital contact with its service providers. I therefore see a good future for personal advice, if the digital channels are able to deliver customer experiences and an added value that feels comfortable and secure. It becomes much more difficult for the branch.
What are the biggest challenges for WealtTechs in general or for aixigo in particular?
As I said earlier, the key factors for WealtTech’s technology will be speed, flexibility and mass suitability. These are the absolute prerequisites for gaining acceptance in the target group for Digital Services in Wealth Management. aixigo’s task is to further expand these criteria based on the current Wealth Management Platform. The basis of the aixigo high performance portfolio management system is the “aixigo wealth management platform”. It consists of two parts. The Data Integration Layer and the API Services. The combination is unique and works like this: The Data Integration Layer takes large amounts of data as a raw material from legacy systems (no matter which), refines them quickly, and turns them into mass suitable and flexible information for ALL customer systems. This means that proven systems can remain with the banks. With our platform, we record the data, process it in such a way that nothing stands in the way of providing it in the digital age. Specifically, for projects this means: Just a one-time data integration, and all positions are available in a digital format. As the cost side for banks will become more and more important in the future, enormous costs for the banks can be saved in this way. Because they can keep their existing systems. And from this platform, banks have every opportunity to offer personalized digital value-added services.