Digital transformation has arrived in the wealth management industry and the changes in client behaviour are already being felt. Managing and growing your wealth may seem like a daunting task if you haven't already started, but it's an important skill that helps you grow your savings and reach your financial goals. In this digital age, there are many ways to reach your financial goals faster through apps like Rizeapp.
Rizeapp is an app specialised in solving all your financial needs. Among the most important of these is managing your money to grow your wealth. Through modern technologies such as AI, Rizeapp's main purpose is to make you reach all your financial goals. Moreover, it is a platform that provides investors (and those who want to embark on the investment world) with simple and effective options to start earning passive income from their assets.
The wealth management industry in 2022
The wealth technology sector is experiencing rapid growth thanks to the widespread adoption of mobile and web applications that enable financial institutions to address end-user needs, automate routine tasks and increase efficiency.
The demand for digital wealth technology services, rather than an assumption, is now a fact of life. According to Business Insider, 75% of wealth managers globally consider digital a priority. In order to meet changing consumer habits and gain a competitive advantage, fintech organisations are actively investing in wealth technology start-ups and initiatives.
At Rizeapp we are not in the process but have already started to offer services that can help you grow your wealth safely and securely. In fact, we have some of the best solutions on the market nowadays to help you build wealth.
Best wealth management solutions
Here is a list of some of the best solutions for growing your wealth:
- Robo Advisors
Robo Advisors are software programmes that use machine learning to provide financial management and monitoring services with little or no human intervention. Operating according to specific algorithms, Robo Advisors collect and analyse user data (e.g., goals, income level, risk tolerance) to automatically make investment decisions and provide meaningful recommendations.
The most advanced digital advisory platforms allow clients to access international markets, open and replenish accounts, as well as monitor investment portfolios in real time. A real-life example of such a wealth management solution is the robo advisor provided by Rizeapp, a neobanking app.
Right now, the popularity of Robo Advisors is increasing at a rapid pace. Insider Intelligence reports that the number of client assets managed by automated investment advisors will reach $4.6 trillion by 2022.
With Rizeapp´s Robo Advisor, processes such as application processing, financial planning and customer service can be automated. As a result, we improve user satisfaction and employee productivity. Freed from routine activities such as portfolio analysis and client needs surveys, in-house professionals (and everyday people) can focus on other revenue-generating activities.
- Investment portfolio management applications
Investment portfolio management software is among the main types of digital wealth management solutions. This software allows you to track financial assets (e.g. stocks, bonds, exchange-traded funds (ETFs), futures), analyse performance and optimise resource allocation through a single platform.
Applications of this type contain features like a data visualisation dashboard and reporting, which helps to manage multiple portfolios and make investment decisions more quickly.
Let's take a look at real-life projects.
Rizeapp is a wealth management application that offers automated advisory and investment services. The platform allows clients to rank investments, monitor investment performance, compare returns and visualise data.
- Withdrawal solutions Theft
Building a retirement portfolio can be a difficult and time-consuming task not only for novice investors but also for dedicated investors. However, the fintech environment is now witnessing a considerable increase in wealth management technology solutions for retirees. As a result, organisations are facilitating access to professional financial management and advisory services, thereby improving customer service and increasing overall efficiency.
Rizeapp makes it easy to build up your savings by automatically depositing your spare change into your account with your own automation rules (feature in beta -coming out soon). You can start small and work your way up as you see how much extra money you're saving! With the app, users can more easily track their investments and manage funds.
- Micro-investment software
Micro-investment applications are among the most popular wealth management technology solutions. With this software, clients can start investing small sums of money, which is especially suitable for novice investors and people on a limited budget.
With some advanced neobanks, when users set up automated investing rules, their purchases are automatically rounded up while the remaining amount is invested in financial assets. It should be noted that neobanks and other micro-investment apps generally do not take commissions from users. In most cases, wealth management software providers generate revenue by charging a subscription fee.
Rizeapp makes investing simple and enjoyable. You can create a portfolio and start trading with just a couple of taps, or let our digital advisor build your portfolio on autopilot, and set up automated round-ups or deposits to your investment accounts. Either way, you can start investing in the major markets from scratch for just 1€/£.
- Open banking
Open banking puts you in control of your data. The owner of your information is no longer the bank, but you. This new business model allows you, for example, to be able to see the information of all your accounts in a single app or receive better personalized offers.
Open banking creates easy access to financial data along with customer transaction data to understand the customer profile. One of the platforms that introduced this practice in its services is Rizeapp.
The Rizeapp algorithm learns and pre-empts client needs and potential wealth management scenarios, across a broad set of financial services, all done through a natively-integrated financial hub. It can even anticipate life goals and objectives that the customer himself didn't know he had!
Can I find an app that has all these solutions and, in addition, allows me to manage my money efficiently and effortlessly? Yes, it is not impossible because Rizeapp is here! Managing your wealth is now easier than ever thanks to all the services and personalised insights offered by Rizeapp.
- Want to start investing? Rizeapp can help you do it.
- Want a financial advisor (much cheaper than traditional financial advisors) to help you manage your money? Rizeapp's Robo Advisor helps you with everything you need 24/7.
- Want to improve your money management? Well, RIZEAPP personalized insights have your back.
Rizeapp offers these and many more services where you are the main beneficiary.