Hearsay systems are a company which keeps a track of the innovations as well as trends in financial technology. Recently, at its annual conference in San Francisco, the CEO of the company, Clara Shih clearly highlighted that the reach of the Fintech products is limited. She was speaking specifically about the consulting and advisory industry.
Lack of Automation:
According to her, most of the advisors spend up to 70% of their time in petty tasks like doing the follow-up calls. They have still not adopted the solutions which are on offer with the help of technology.
According to her, most of the advisors today as well, spend most of their time in tedious tasks which can be easily automated. Instead, they should concentrate on communicating with the client and adding value for the clients rather than wasting their time on tedious and simple tasks.
She further highlighted that our firm is consistently working on improving the productivity of the advisors. This can be only done with the help of technology.
She recently launched an app which will enable the advisors to speak with their clients with the help of text as well as voice. They will be able to directly get in touch with the client through their business number with the help of any mobile device. The name of the app is Hearsay Relate with the help of this application; they will be able to communicate with the clients more easily. The technology which they acquired through the acquisition of Mast Mobile in October 2017 is used in this application.
Also, this application provides the clients with the option to schedule meetings as well as reviews and upgrading invoices within the interface of the application. As a result, the entire workflow of the advisors is simplified.
Role of Fintech industry:
She clearly stated that such solutions can only be made possible with the help of the Fintech industry. The Fintech industry is staring at a huge opportunity as almost each and every advisor will need such programs in order to streamline their work. According to her, the company is focusing on 3 solutions which are:
- Automating the various tasks of the advisors
- Working with the advisors to use digital resources in a better way
- Providing the advisors with better solutions for communication
If indeed, her company is able to succeed in automating various tasks for the advisors, she will be able to capture a significant proportion of the entire market. Keyword: hearsay system, automation, Fintech industry