Name: Wealthtech: Bringing investment solutions to banks and customers
Uploaded: 2024-03-26T15:13:27.583Z
Duration: 959.92
Description: Jurgen Vandenbroucke, Director of everyoneINVESTED, KBC, talks to Finovate analyst David Penn about innovation in the investment community and why digital engagement is not about technology. They discuss the role of regulation in driving innovation and how everyoneINVESTED is approaching compliance while serving key stakeholders.

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Jurgen Vandenbroucke.vtt

English

David Penn: Hi, I'm David Penn,
Research Analyst with Finovate.

I'm here with Jurgen Vandenbroucke,
who is Director of everyoneINVESTED.

David Penn: I thought maybe to start
off, you could just tell us a little bit

about what everyoneINVESTED is all about.

Jurgen Vandenbroucke: EveryoneINVESTED
is the spin out of KBC Group, a Belgium

We were the former, or we are
the former innovation team in

And since 2020, we market to other
banks, the successes of KBC in

recruiting digitally new investors
through in app integration.

So we integrate our SaaS platform
in the banking app of other partner

banks, narrowing basically the distance
digitally between their clients

I wanted to talk a little bit about
wealth tech and the technologies

Wealthtech has really done an incredible
job of really transforming the wealth

I wonder if you could talk a
little bit more about some of the

specific ways that everyoneINVESTED
is innovating in this way.

Jurgen Vandenbroucke: everyoneINVESTED
is really all about increasing the

reach of the investment offering of
banks to the many banking clients

Jurgen Vandenbroucke: For example, if
you would in continental Europe look

at the average so called investor
penetration ratio, the number of

banking clients holding some kind of an
investment, it averages around 10 to 15%.

We like to focus on the 85% of those
banking clients, getting them over

the most difficult decision, perhaps,
which is their first investment in a

digital way, either through immediate
investment digitally, which is very

challenging, or by engaging them in a
digital way and preparing them to have

human based assistance, an advisor or
somebody else, to get them over that wall.

So our focus very much is again, digitally
engaging through the banking app that

many people have, not necessarily to
go and visit a branch, but just to

reach out in their pockets through
their mobile phone and trying to

David Penn: I'm curious about that number.

Do you, is that number to you
seem something that is, is

How do you look at that number in terms
of the task you have of again, bringing

Jurgen Vandenbroucke: But for me
personally, as managing director

of everyoneINVESTED, it is showing
that there's lots of potential.

But luckily I would say there's also
from a regulatory and a supervisory

point of view, a growing demand, or at
least a desire to increase that number.

Jurgen Vandenbroucke: In the sense
that here in the UK with the Consumer

Duty Act and in Europe with the Retail
Investment Strategy, the clear mindset,

despite of the fact that it comes with
new regulation, but the mindset is really

to increase the financial participation
of the general public in a way that

leverages the means of technology,
making access to financial services,

including investments, easier and digital.

But in a way that it preserves
investor protection, which is then the

But just to say that, answering to your
question, that also there's a regular

To increase that number
of investor penetration.

And for many banks, it indeed is
yet another set of legal must do's.

And we tend to focus on the business
opportunities this entails, because

it will impact business models, and
we like to grab the opportunities.

I want to talk a little bit more
about the regulatory environment

here in the UK in particular,
which seems to be very activist and

But I am curious about some of the
hurdles for those that 10 to 15%.

Are there specific hurdles you
can think of that reasons why

Jurgen Vandenbroucke: I like to say,
and I quote an MIT professor on that.

I have my money on him for many
years as a next Nobel Laureate.

But he likes to say that
investing is an emotional process.

And embedding that emotional
component in financial technology,

that's the real challenge of, for
example, increasing that number.

Because if you want to increase
it by doubling the number of

advisors, it's going to explode,
make your cost of operation explode.

And that's also the threat of many of
these regulatory changes, that it will

If you want to comply in a  conventional
way with the human based process.

We like to digitize that as much
as possible to the benefit also of

investor protection to the benefit of
having services based on data rather

So I think that's where
the opportunity lies.

I want to talk about some technology
and the aspect of technology

From your own perspective, do you
feel like the regulatory authorities,

you mentioned consumer duty and
some things that I know are meant

Do you get a sense that
they are at the same time?

You mentioned the potential for some of
those suggestions to make operations very

difficult for a business at the same time.

What is your sense of the
regulatory environment in terms

Do you feel that it's
generally supportive?

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Expert Insight

Jurgen Vandenbroucke, Director of everyoneINVESTED, KBC, talks to Finovate analyst David Penn about innovation in the investment community and why digital engagement is not about technology. They discuss the role of regulation in driving innovation and how everyoneINVESTED is approaching compliance while serving key stakeholders.