Cape Town - There is significant growth potential in automated investment advice platforms - so-called robo-advisers - within financial services industries globally, according to Steven Nathan, CEO of 10X investment services.
He explained that technology developments created three mega trends regarding consumer behaviour and how business delivers to consumers. Firstly, information became freely available and easily obtainable. Consumers could do research on the best investment product, investment performance or investment fees available, for instance.
The second mega trend was connectivity and networks. Information could be shared quickly through social media and social platforms. This would include "good or bad" information about how to invest, or what shares to buy. Thirdly, computing power is getting cheaper so it is becoming easier for companies to enter markets.