Let's take a moment to review some of the best financial services innovation articles and discussions that the Institute for Innovation Development (IID) developed throughout 2019.
There are many evolving and compelling forces at work on the traditional advisor business model and value proposition, but none as transformative as the wave of financial technology in the form of the growing number of FinTech companies.
"That ongoing search for the right solutions brought us to FinTech companies where we have found superior retirement plan services and tools with lower costs for our clients." - Gary LoDuca, Thoughtful Advisors
[The key distinction between an invention and an innovation is that - while an invention may be interesting; addressing a need; is all bright, shiny and new - unless it is widely adopted, it is not an innovation.
"There's a lot of misinformation or misconceptions in the approach that managers are taking in terms of evaluating and purchasing pieces of technology." - Matt Franey, Celera Systems
"While digital transformation is not easy, once you undergo the process, the efficiencies and effectiveness of the organization increases tenfold." - Michael Pinsker, Docupace Technologies
"Ultimately, the best practice is to have the right person in the CCO position, implement the right processes for your business, and document everything." - Bo Howell, CCO Technology
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