"Technology is effecting seismic changes in the financial landscape," propounded Gibb. "The disruptive revolution in payment and financing has paved the way for a technological transformation of personal investment and wealth management." Gibb holds great expectations for what a deeper integration of technology and finance will do to elevate wealth management capabilities and allow for healthier investment strategies.
Gibb remarks that a large plurality of families in
Drawing from insights gleaned from past performance of the investments made by Lufax customers, Gibb arrives at two observations: that customers in
Looking ahead, Gibb advocated for even wider and deeper application of big data technologies through the investment lifecycle, "Smarter tagging has improved data quality and facilitated better, more suitable matching of right customers to suitable products, which in turn helps informing customers of healthy investment strategies and elevates the overall investment capability."
Gibb sees immense potential in artificial intelligence (AI) bots and foresees them playing a transformative role in the coming 12 to 24 months. By intelligently conversing with customers, AI bots on the Lufax platform are now able to make the investment experience truly interactive and genuinely intuitive. Slowly but surely, AI bots are sharing the duties of investor education, explaining to customers the logic behind investment strategies, and gradually transitioning them from fixed returns to equity-oriented products. Lufax customers who participated in a robo-advisory pilot program are shown to be more open to longer investment horizons and not overly anxious about short-term volatilities.
"The application of AI and big data technologies in our robo-advisory pilot program has already yielded encouraging results," revealed Gibb. "The average investment horizon of public equity funds in the pilot program has since doubled to 200 days." Gibb sees huge promises in the role technology will yet play in the capital market, where it can help boost confidence, extend investment horizons even further, and point to a healthier way of investing amid the structural changes in the macro-economy.
Lufax is a world-leading comprehensive online wealth management platform and a provider of turnkey technological solutions for financial institutions and local governments. The company leverages its global financial footprint and technological innovations in building its robust risk management apparatus, and providing institutions, enterprises, and investors with secure, professional, efficient financial services and information.
About Caixin Summit
Launched in 2010, the Caixin Summit is Caixin Media's annual flagship event, and has been diving deep into critical issues facing global development from economic, political and social perspectives. It has been widely recognized for its impact on policymaking and agenda-setting as it continues to provide an independent and influential platform for public officials, business leaders, academics and entrepreneurs from