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Integrated data: Digital investment challengers
advance financial planning services

US-based digital investment challengers are
unlocking the vast potential of customer data
through the integration of banking
and investment solutions

 

The use of data portability and aggregation has raised a wealth of opportunities within the market, where leading players have identified the possibilities around providing bespoke services and advice.

Wealthfront for instance, prompts customers to link their known financial accounts to the platform - including checking, savings, loans, mortgages, and retirement accounts during the onboarding process. Once collected, the data is then used to provide a consolidated picture of net worth and debt obligations.

The provider then capitalizes on the newly accessed data by promoting its own suite of products: it analyses the interest rates applied across each of the linked accounts, and compares against its own accounts - which inevitably offer a superior rate.

By visualizing the benefits of the account against the user’s existing products, Wealthfront prompts users to consolidate more of their wealth with their own products.

 

Investment Integrations

 

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