NextWealth Insights: Ray Tubman and Simon Clare on microservices, AI and the future of wealth tech
By Next Wealth | 07 July 2020 | 1 minute read
Two of the technologies that will impact most on wealth management are microservices and AI.
In this podcast, Heather Hopkins speaks with Ray Tubman, MD of FinoComp, and Simon Clare, Head of Technology and Innovation at Bravura, about the importance of these technologies on Ray says microservices allow platforms flexibility not available with a monolithic software code. He argues this fosters good competition among tech providers, leads to more innovation and to better tools and functionality for users. Simon says AI is almost indistinguishable from magic. He says that while having access to large data sets should be an advantage but it’s really about making good use of data. Ray and Simon encourage firms to think about what data they are collecting – beyond what is required by regulation – and to weaponise that data.
MPS is growing faster than the platform market and costs for clients are falling. These are two key findings of NextWealth’s latest MPS Proposition Comparison Report, designed to provide insights and trends into how the advice profession is managing client investments.