Advisory individualization is a success for Jyske Bank.
With 111 branches and four international units, Jyske Bank is #3 in the danish banking market — set to ‘make a difference’.
Jyske lives up to its label being the ‘catfish in the tank’: blaze new trails and innovate client interaction, services and products.
Providing individualized private investment advisory, personalized, tailored to subjective needs, Jyske needed a new screen-sharing situation at the point-of-sale: full transparency with advisor and client sharing the same screen — and no more prefabricated model baskets.
Each client portfolio is individualized, advisors and clients share screens. No models, no baskets.
Advisory workflow extended
- Market research, asset allocation strategy, product research and product list preferences integrated
- Leveraged investments, multi-currency, cash accounts and sub-portfolio handling added
- Volatility scaling for bonds implemented
- Customized data feed to individualize portfolios
- MIFID check for each product
Interactive PoS Advisory realized
- Full transparency and screen sharing at the PoS: advisor and client interact on the same application
- Advisor includes client positions, constraints, outside assets and measures the persistent risk personality profile.
- No authority bias.
Effects and Results
- Increased acquisition of 3rd party assets.
- Introduction of a fee based advisory service.
- Reduced time-to-market for new products.
- Ergonomic business administration, QA costs significantly reduced.
- High acceptance by advisors.
Flanking the implementation of the interactive PoS application, an interactive Portfolio-Simulator was used by Jyske Bank to generate leads and awareness. See this page for more detail and features.