Inquiries

hello@milemarker.co
Ph: +1.402.651.7679

The Financial Services/Wealth Technology Innovation Problem is Really a Data Problem

TL;DR Download a checklist to help you select new technology to stave off buyer’s remorse. 


Back in the “Before Times,” when we’d all head out to Orlando, San Diego, Boston or Scottsdale for conference season, you could feel the industry as a whole suck in a collective breath. The announcements were coming. Who made a new thing? Who’s going to open up new APIs? What’s the next bolt-on to our tech stack that’s going to change the way we add value to clients? 

Fresh Innovations Turn Our Heads

The stages were literally set for these moments. Our favorite industry reporters sat among us in the audience. We piled into hotel conference rooms because we all knew that even if we’re generally happy with where we are, nothing ever stays the same. The bar was always going to keep getting pushed higher. 

To see how the technology landscape has changed, look no further than Michael Kitces’ FinTech Map to see the industry boom.

2017

Hope Springs Eternal

With every new announcement and every software update, we’ve held out hope that we’d finally be able to reach efficient processes or to differentiate ourselves from the competition. But deep down, even as we signed agreements, we have always known that arriving at nirvana wasn’t likely.

 

Here’s a typical tech selection process

   

Acknowledge a pressing problem  

   

Sit in on demos and comparison shop

   

Select new technology

   

Begin implementation

   

Wince, as internal processes get clunkier

   

Watch as the tech doesn’t reach full adoption across the firm

   

See data get stuck into a new silo

   

Look for new solution

 This isn’t ideal and it doesn’t have to be the norm.

Here is a helpful guide for you to reference as conferences begin to pop back up on our calendars, even if there’s no air travel required.

 

Author avatar
Kim Mackrill
Elevating client experiences for financial advisors and fintech. CMO at Milemarker. Winner, XYPN Fintech Competition, Winner Fuse Best Advisor Innovation.

Post a comment

Your email address will not be published. Required fields are marked *

See How Powerful Your Data Can Be

What We Do

Who We Are

Support

DISCLAIMER: All product names, logos, and brands are property of their respective owners in the U.S. and other countries, and are used for identification purposes only. Use of these names, logos, and brands does not imply affiliation or endorsement.
© 2021 Milemarker Inc & Milemarker Data, LLC. All rights reserved.
We use cookies to give you the best experience.