The increase in ranks of India's investors is creating opportunities to create wealth and value.
With the investment ecosystem more connected than ever, how is IIFL Wealth Management helping customers enjoy a frictionless experience across multiple digital touch points?
Change is inevitable but growth is intentional. Wealth creators, both first-generation and those who build upon inherited wealth, are undoubtedly some of the world's sharpest brains, for they command their wealth, rather than the other way around. They are invariably a step ahead of the growth curve, whether in adopting state-of-the-art technology, recognizing trends, thriving on the economic opportunities or making the best use of human capital. They park their wealth with us with absolute trust and unwavering belief that their wealth, more than merely staying put, would provide the best risk-adjusted returns.
Technology is disrupting various industries. India continues to be a high-touch industry for wealth management as clients prefer to meet their advisors often as opposed to doing the transactions themselves online. We use technology in a myriad of ways at our back end for management reporting and business MIS. For the clients, we have enhanced the report delivery through innovative video reports which allow clients to deep dive into details they wish. We have partnered with world leaders in visualization reporting to ensure a unique client experience when they access their portfolio reports.
At our end, such software allows us to do in-depth analysis on all aspects of the business, on the fly, and present it in a world-class, easy to under-, stand graphical format.
We also put a lot of focus and investments into building a state of the art technology platform to handle all our customer-related queries, internal queries and lead management. We are also embarking on an enhanced digital strategy across our business lines, which will enable us to have a new website and app to engage with clients seamlessly.
One thing that keeps all of us awake is the pace of engagement with clients, with the relationship manager and the back office. How fast will the technology which services clients change? This is moving at a very fast pace. The virtual office may not require one to come to an office at all. In an ever-changing market, what tools are best suited to service clients? From inception, we have maintained the principles of simplicity, modesty and client-centricity. Almost a decade later, I strongly believe, that a company, which follows these basic principles, gives the clients the best and executes the fastest will win. The right combination of people, product and platform have resulted in clients seeing value in banking with us. Like in any industry, the winner takes it all and it won't be any different for the wealth management industry.