CommPRO Editorial Staff
During Hong Kong FinTech Week in late October, keynote speaker Nathan Stevenson, CEO of ForwardLane, used a scatterplot matrix with thousands of dots to visualize the data overload happening in financial services. “This is data. There are four red dots, and one green dot. I’ll give anybody $1,000 dollars if you can find the green dot in the next five seconds. Anybody?” asked Stevenson.
The illustration represents the amount of data created in 2017 — more than the volume produced within the last 5,000 years. Asset and wealth managers spend hours deciphering this data: CIO views, research, investments, products, client interests, and CRM notes for hundreds of clients.
With its next generation, artificial intelligence (AI) and natural language processing (NLP) platform ForwardLane “finds the green dot.” The company’s corporate banking and client portals scale and aggregate data in milliseconds, read and understand client and human business data, and deliver personalized curated stories, based on investments, and interests for a dynamic, engaging customer experience.
Used by large asset managers, wealth management firms, and insurance companies, its database includes two configurable APIs; the first, Personalized Insights, customizes presentations for client engagement and prepares a prioritized list of clients to call which includes the content to share and the reasoning behind it.
The company’s second API, Expert Conversation, is powered by a purpose-built framework for institutional finance advisors to access firm and market intelligence on-demand, ask questions about market-related events, firm investment strategies, and the potential impact to client portfolios.
Ready-made for sales and distribution teams to explore investment products with findings for tailored to clients, deployed via Cloud API or on premise. “How much is this worth to wealth managers experiencing an 8% drop in fees and a $16T loss? Is it $100M in AUM (assets under management) to garner insights? Is it $1B if you’re a private bank? Or, is it $1T as wealth transfers from different segments of the market? Having the ability to discern what’s happening every day is a competitive advantage,” said Stevenson.