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Business Transformation

Fintech from Legacy to Innovation

April Rudin
.
May 25
.
3-4 mins

Table of contents

Key takeawaysCollaboration platforms are essential to the new way of workingEmployees prefer engati over emailEmployees play a growing part in software purchasing decisionsThe future of work is collaborativeMethodology

Introduction

Founder and President of The Rudin Group, April J. Rudin has a chat with us about Fintech, and its shift from Legacy to Innovation.

Founder and President of The Rudin Group, April J. Rudin is widely acknowledged as a top marketing strategist as well as an influencer for financial-services and wealth-management.

Distinguished by her ability to forecast and leverage critical trends and her expertise in digital and traditional media, she leads a firm, now in its tenth year, that designs bespoke marketing campaigns for some of the world's leading wealth-management firms, fintechs, and family offices; campaigns that strengthen brand value and drive client acquisition.

Interview with April Rudin

The following section contains a summary of our interview with April. But if you’d prefer listening to the full interview, there's a link to the Spotify podcast below. 

1

What, in your opinion, is the reason behind the financial services sector adopting new technology at a faster rate than other verticals? How does AI help the finance sector?

April believes the financial services sector rate of adopting new tech is much slower than other verticals. This could be because of the old school way of thinking. Financial services has always been a people’s business. There’s a fear that automation could result in a loss of the personal touch. Most financial advisors in the United States are around 60 years of age, and are not tech savvy. So when it comes to transactions involving money, people are more comfortable with asking questions face-to-face before investing.

2

“64% of High Net Worth individuals expect their future wealth-management relationship to be digital.” How will conversational AI be a game-changer?

As mentioned before, people are more comfortable with asking questions face-to-face before investing or making any transactions, which is where Conversational AI comes in. AI has the ability to incorporate behaviour, and language to converse. It has the potential to fill the gap between personal relationships and technology. 

With this use of AI, also comes a reduction of long, tedious wait times. Which is needed right now when moving out of the house is not advisable. 

3

Do you believe the tech sector has been slow in adopting AI and digital tech for self-service and automation?

It’s difficult to answer this question. On one hand as mentioned above, financial services has been slow in adopting new tech in general. What April does know is that we have a long way to go. We need to focus on closing the communication gap between the bank service provider and the user. And Financial institutions need to loosen and open up to using 3rd party technology providers for a smoother customer service. The other major challenge lies in educating the general public about how AI works. 

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April Rudin

April J. Rudin is the Founder and President of The Rudin Group,

She is widely acknowledged as a top marketing strategist as well as an influencer for financial-services and wealth-management.

Distinguished by her ability to forecast and leverage critical trends and her expertise in digital and traditional media, she leads a firm, now in its tenth year, that designs bespoke marketing campaigns for some of the world's leading wealth-management firms, fintechs, and family offices; campaigns that strengthen brand value and drive client acquisition.

Andy is the Co-Founder and CIO of SwissCognitive - The Global AI Hub. He’s also the President of the Swiss IT Leadership Forum.

Andy is a digital enterprise leader and is transforming business strategies keeping the best interests of shareholders, customers, and employees in mind.

Follow him for your daily dose of AI news and thoughts on using AI to improve your business.

Catch our interview with Andy on AI in daily life

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