Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
Visualising customer-centric digital investment performance reports
Journal of Digital Banking,
3
(4),
346-360
(2019)
Abstract
In a purely digital context, investors frequently act on their own perception of the past and the expected performance of their investment. Consequently, ensuring their adequate understanding of investment parameters is of utmost importance for all robo-advisory services. Against this backdrop, this paper structures a digital investment performance report around the main aspects of customer-centricity. The approach adopted is threefold. First, a universal framework of customer-centricity is developed. Second, this framework is used to create ideas for simplified digital tools relying on visualisations of the traditional benchmark reporting, as well as the more recent goal-based reporting mechanisms. Third, these tools are programmed as functional prototypes and tested. The main finding of the tests is that investors seem to need different visual reporting tools, depending on whether positive or negative returns are to be communicated.
Keywords: financial services; robo-advice; customer-centricity; performance reporting; goal-based investing
The full article is available to subscribers to the journal.
Author's Biography
Ruth Kümmerle is program manager, digital transformation, at Allianz Global Investors. In this position she focuses on digital wealth management and related artificial intelligence topics. In her former position as head of research and development at moneymeets, a German FinTech company, she headed the interdisciplinary project VikoDiA (Visualization Concept for Digital Investment Consulting) and developed innovative visual concepts for digital financial advice. Prior to that, she spent more than five years in asset and wealth management at Deutsche Bank and Sal. Oppenheim. She studied economics in Berlin and business administration in Toulouse, and evaluated illiquid investments in a portfolio context in her PhD project.
Marc Wierzbitzki is a research assistant at the Allianz Endowed Chair of Finance at WHU — Otto Beisheim School of Management. He holds a BSc in Business Administration and an MSc in Finance from WHU. As part of the EU-funded VikoDiA project, he focused on the identification of adequate and innovative mechanisms to report investment performance to private investors in digital settings. His research interests, furthermore, comprise personal investment strategies, the behaviour of individual investors and potential strategies to debias their financial decision-making.
