Robo advisers the industry of financial services nowadays is going through important changes; as a result of the transformation individual investors receive significant advice in terms of investments. A range of factors, including demographics and technological progress, has led to the above described changes.
The need for a financial support has raised considering the current geopolitical and economical situation. So the service providers aim to provide access to financial operations by individuals. Robo advisers number have grown since recently which definitely confirms that business focused analysis need robo advisers. Commonly, the robo advisers’ activity can be described as computer based technology incorporation into the business management, mostly using algorithms.
Still digital advice is different for any business type. Although the concept of robo advisers is based on digital services, humans are also involved. Worth mentioning that digital advice services are under same regulatory requirements as regular ones. This is the consequence of the innovations in financial services, which have to be applicable to the existing regulation. Automated tools being combined with human factor is definitely a new approach in financial services provision. That definitely will demand a proper regulation to conduct the supervision in brand new areas where both business models and technologies are evolved.