Change and Transformation Digital transformation in the investment and savings sector is recognised as being behind; attributed to a culture of traditionalism and inertia, due to a lack of industry diversity. However, asset and wealth management firms have historically serviced very traditional investor and adviser communities – with their own inertia and habitual behaviours. Technology and regulation also play their part; legacy operating systems lack interoperability and agility, while mandatory postMIFID changes have hindered more creative-led initiatives. Looking ahead, is change on the horizon as we navigate through a global pandemic and uncertain future? In 2020, two significant changes brought with them new ways of thinking; mounting pressure on firms to commit to ESG policies and an acceleration of online investors. According to a US study, companies committing to accessible inclusion under their ESG frameworks achieved a 28% higher return, while investment platforms reported significant growth, particularly from homebased working millennials, during the pandemic and periods of market price swing – bringing down the average investor age. Either side of this demographic is a nextgeneration cohort entering the workforce under auto-enrolment pension schemes, within an ageing population. By 2037, 1 in 4 of us, in the UK, are expected to be aged 65 and over. Intergenerational needs This intergenerational spread is transforming and reshaping our population. Future digital engagement requires a coexistent, yet differentiated, model. With more conditions, including Autism Spectrum Disorder (ASD) and Dyslexia, being correctly identified, and diagnosed, demand for accessibility in younger generations is increasing. Nearly 1 in 5 people live with a disability, with a household spending and saving power of £274 billion. As our population’s median age shifts towards later years, inclusive design practice must address the contextual and everchanging needs of vulnerable savers and those experiencing ageing functional limitations. Coun t r y a Finance Monthly FinTech Awards 2022. Spec i a l Fea t ur e
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