Digitisation is a necessity of today; smartphone innovation is part of our fourth industrial revolution. A technological evolution that includes Artificial Intelligence, Big Data, Internet of Things, Blockchain and 5G.
FinTech and RegTech have similarities and some FinTechs are addressing regulatory obligations as features within their platforms, both terms in-essence use technology to solve compliance problems within the financial services sector.
We all know that an SOA is not entirely effective, it isn't valid after 30 days, it's full of jargon and clients simply file them in their drawer, never to be looked at again.
So, can we really say on behalf of consumers that the value of financial advice sits within an SOA document?
So, as the regulators in Australia start to get their head around the pace and depth of the automated digital advice world, this blog is to offer a quick snapshot of the various development and automation levels of so-called ‘robo’. I have broken this into four levels.
