(Re-)Launching a Robo-Advisor as a Bank

Theodor Schabicki (), Yvonne Quint () and Soeren Schroeder ()
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Theodor Schabicki: BearingPoint GmbH
Yvonne Quint: BearingPoint GmbH
Soeren Schroeder: BearingPoint GmbH

Chapter Chapter 9 in Robo-Advisory, 2021, pp 163-186 from Palgrave Macmillan

Abstract: Abstract For banks, the securities business for retail clients is increasingly important as an income or revenue source. In recent years, innovative and agile fintechs have challenged the once bank-dominated securities market with robo-advisory solutions. Robo-advisors offer customers intuitive and easy-to-understand digital asset allocation and management. Subsequently banks have recognised the fundamental necessity of digitalising the securities business and are starting this endeavour by introducing their own robo-advisors. In doing so many banks cooperate with fintechs as envisaged solutions can be implemented much faster. However, offering a robo-advisor itself is no sure formula for success. Banks must deal with various challenges and create a strategic and organisational framework for this digitalisation process.

Date: 2021
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DOI: 10.1007/978-3-030-40818-3_9

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