Kurtosys Spotlight: BNY Mellon Market Eye, Kelli Keough, Open Banking

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Welcome to our weekly digital spotlight!

This edition of Kurtosys Spotlight features another wealth management digital leader, the perks of a certain trading platform, BNY Mellon’s content subsidiary site, optimism in wealth management and reflections after a year of Open Banking. If you want us to feature any campaigns, articles, websites or people in digital marketing in asset management, please get in touch!

Digital Leader Spotlight: Kelli Keough, Global Head of Digital Wealth Management at JPMorgan Chase

Kelli Keough headshotInvestment banks are furthering their foray into digital, and one notable example is JPMorgan Chase who, under the leadership of Kelli Keough, PhD, its Global Head of Digital Wealth Management.
Managing to update the digitalisation of a global conglomerate must be a difficult task, but Dr Keough is an experienced head in all aspects of the wealth management. Before joining JPMorgan Chase back in 2015, Dr Keough held the title of Senior Vice President of Trading Services at Charles Schwab where she was responsible not only for improving client experience and the education of Schwab’s trading clients, but also the handling of its digital platforms. Her team drove business results through creative omni-channel sales and marketing, an in-person chat service and updating the digital experience through mobile, web and desktop trading platforms.
Now at JPMorgan Chase, Dr Keough is behind its latest digital service: a self-directed trading platform called You Invest, which went live at the tail end of 2018, introducing a new way to trade online commission-free.
Kelli is part of our Most Influential Digital Leaders in Asset Management gallery – follow the link to see our top 30!

Video in Focus: You Invest

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Speaking of which, Yahoo Video have recently talked to Dr Keough about J.P. Morgan Chase’s newest digital service You Invest.
Dr Keough points out how the service is integrated with J.P. Morgan Chase, and allows investors to invest in exactly what they want, when they want. The user experience seems to be the major selling point for millennials, who are the generation taking to the service more than any other; the average age of users is 15-20 years younger than clients working directly with the firm’s advisers. Tech certainly seems to be the way forward, spearheaded by digital leader sin finance such as Kelli Keough.

Website in Focus: BNY Mellon Market Eye

A website with a difference, but still some excellent design features, is a subsidiary site from BNY Mellon. Named Market Eye, it is a marketing-led site which brings investment professionals regular insights and commentary on the latest trends in the sector.
The main page has multiple tools to allow the user to browse through the content; the main draw of the site itself. The top toolbar, for instance, allows the page visitor to fine-tune their search results by filtering through the insights by date, themes (including country-specific areas of investing, technologies, generations, politics and fund types), and even by boutique. The user can select multiple themes at once, or clear their search to start afresh, in a well laid-out mega menu. Alternatively, there is a manual search bar included in a side menu which also offers links to the featured investment boutiques on this site.
The bulk of the main page is taken up by a carousel featuring its most recent articles, all accompanied with attractive graphics which breaks up the white space of the page really well. The carousel is animated to showcase each piece of content, too.
The bold graphics continue down the page as the user can view and follow links to each weekly piece of content. The design aspects are extended to the actual posts, with each including a handy and illustrative infographic serving as a precursor to the written updates given.
These updates can be subscribed to as well, with a box situated surreptitiously at the bottom of the page for a user to fill in their details meaning email updates can be sent to them with each new publication.
A small site that delivers on attractive design with the user experience in mind, and scales down well for mobile devices too. Please see out 50 best-designed asset management websites for our most praised web offerings in the industry.

Featured White Paper: CBI PwC Financial Services Survey Q4 2018

Whilst our very own Asset Management Digital Marketing survey towards the end of last year identified the threat of fintechs as the largest threat to financial services, other reports into the topic seem to garner other results it seems.
This week saw the launch of PwC and CBI’s quarterly rundown for financial services, specifically looking into the opinions of companies also through a survey. From the last quarter of 2018, the main results gleamed is that ‘optimism in financial services continues to decline’, this being down to multiple factors. For one, increasingly difficult financial regulations have brought about compliance issues (which we found to be troublesome from our 2017 survey), as well as Brexit and macroeconomic uncertainty playing a major part in this so-called declining optimism industry-wide.
There are still, however, lots of pointers to identify that technology and disruptor companies are also a growing concern, as our survey found itself. In banking for instance, new startup banks with a growing fanbase and innovative marketing campaigns are increasing competition. 98% of respondents from banks saw entrant banks as their main competition – a staggering statistic. Asset managers in this survey in fact identified the significant pressure on them from fees pricing and product innovation. Asset managers who responded also identified their spending focus being on innovative distribution channels to speedily reach new customers.
As can be predicted, regulation remains a roadblock still, one year on.
You can check out a rundown of the main responses at this landing page over at PwC, but there is also a link to download the full survey results on the page too, with all of the quantitative data and graphs available at your fingertips. As a reminder, you can see the results of our 2018 survey here too!

Featured Event: Banking and Bolsheviks – Lessons for modern-day investors from the Russian revolution

As the name of this event suggests, it’s certainly something a little different. Hosted by the UK’s CFA Society, this is part history lesson, part investment strategy talk, part of their Author Series.
Fittingly, this talk will be given by Hassan Malik, CFA, who is both a financial historian and investment strategist. Having written his first book Bankers and Bolsheviks: International Finance and the Russian Revolution, Malik will be presenting how the events of 1918 transfer to investment strategy in the present day.
And whilst that sounds like a strange idea at first, given that the Russian Revolution marked the largest sovereign default in history, and followed a decades-long investment boom from US and European investors, it’s all relevant. Indeed, the lessons learned from that historical landmark carry weight for investors with an interest in emerging markets, investment banking, sovereign debt and political risk.
The event takes place Tuesday 22 January 2019, with registration at 18.00 and the event to start at 18.30. The nearest tube station is Barbican, and it takes place at the following address: Farmers & Fletchers, 3 Cloth Street, London, EC1A 7LD.
You can register for the event at this page; it’s already shaping up to be an interesting discussion.

Fintech News: One Year On…

2018 was perhaps one of the most pertinent years when it came to financial regulation, and this transcended into fintech, an industry hoping to relieve regulatory burdens for traditional players. Alongside such compliance measures as MiFID II and GDPR was the idea of Open Banking – the requirement for banks to openly share account data with competitors with permission from customers as part of the Payment Services Directive 2 in the European Union.
This was implemented on January 13th 2018, so one year on, what’s changed to the banking and fintech landscapes in the UK? Over at Banking Tech is a handy infographic detailing the highlights of the past year in open banking, including the first successful account information transactions, Open Banking Standards releases and some quotations from Imran Gulamhuseinwala OBE, Trustee of the Open Banking Implementation Entity (OBIE) on its success.
Not that everyone feels that Open Banking has achieved the waves in fintech as was intended however, particularly this review of the directive from Bloomberg.
The article identifies how despite the introduction of the data-sharing service, everything looks pretty much exactly the same as it did a year ago – only 4 new banking licenses were issued compared to 12 the year prior, and banks barely lost any market shares to startup digital banks. Then again, according to a survey with 50 banking executives in Britain by Israeli mobile bank Pepper, many are still extremely wary of the effect that Open Banking will have. In particular, over 82% feel they are falling behind banks such as Monzo, Revolut and Starling, and the biggest threat from the legislation is the furthered interest from technology giants to open retail banking services.
Perhaps it’s too early to tell how Open Banking will completely change the outlook from a banking perspective, but given the prediction of the moves from Google, Amazon and the like leveraging customer-first financial services, the next five years could see a seismic shift in where the power lies.

Social Spotlight: Klarna

Certainly a tweet and piece of news that turned heads in the financial social media world this week: Snoop Dogg becoming a minor stakeholder in Swedish payment provider Klarna.
As part of his tech investment strategy, the Snoop D-oh-double-G has looked to Europe to expand his portfolio, seeing the collaboration with Klarna as the perfect partnership: a company set to make frictionless money transfers for consumers. Klarna CEO Sebastian Sietmatkowski had this to say:
“Snoop is not only a rap legend, but also a successful businessman, with a genuine interest in tech, retail and e-commerce. He has a great understanding of consumer behaviour and is exceptional when it comes to branding and marketing […] teaming up with one of the smooothest persons alive, opens new doors to Klarna as we grow and develop as a company.”
Not only is the above tweet as simple and effective as a company can be on social media (definitely “smoooth”), but the whole marketing effort highlights how effective influencer marketing can be to truly revolutionise a financial brand. Check out the humorous ad in the tweet above to announce the new campaign under the eye of the Long Beach legend.
That’s all for this week! Be sure to check back next time for more news and marketing features from the world of asset management marketing highlights here at Kurtosys.
If you’d like to have news, people, a new website or articles featured here, please get in touch via Twitter or email us at [email protected]

Elliot Burr

Elliot Burr

Fervently chatting about the future of funds and fintech.