Difference and Differentiation: What next for investment platforms? - Paper - Page 16
Players gonna play.
Prognosticators gonna prognosticate.
So, what might the platform look like 20 years from now? Will commoditisation
and ‘platform-as-a-service’ finally see retail brands consider investment
propositions in the same way they’ve approached insurance and credit?
Given the technological and societal trends towards service over product, what could we
expect platforms to be doing for different customer segments in another 20 years?
The Altus Consulting team have given some thought to what they might expect to see:
Nicola Flannigan:
Kids today…
Mike Barrett:
Planning for later life
in 2043...
Chris McCullam:
Spending my pension
in 2043…
When Nicola Flannigan was asked
to think about platforms in 20
years, she instinctively thought
about her young daughter.
Here Nicola explorers her own
behaviours, how this influences
the next generation and the areas
she believes platforms really
need to focus on to continue to be
successful in 20 years.
Through thinking about platforms
in 20 years’ time, Mike Barrett’s
thoughts immediately went to his
day-to-day routine and how they
could improve this experience.
Within this section, Mike has
displayed his thoughts on how
platforms could potentially
develop the customer experience
in this area and also how
platforms can enhance individuals’
knowledge when entering this time
of their lives.
Thinking forward to when he’s 64
(well 67), Chris McCullam asks is
it feasible to expect to be running
his financial life with a single
financial platform? Something that
can seamlessly connect day-to-day
spending, regular commitments
such as utility bills, etc. with his
invested retirement savings. When
he wants to spend some money on
something, could this be deducted
from his ‘platform cash account’
rather than needing to move a
specific amount from one digital
ledger to another at a specific
point in the month?
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