Academic journal article ABA Banking Journal

Software Takes on Role of Investment Advisor

Academic journal article ABA Banking Journal

Software Takes on Role of Investment Advisor

Article excerpt

Sales of mutual funds, insurance, and annuties are becoming significant profit sources for commercial banks. Banks, however, face unique challenges in marketing these investment products; the complexities of investment products are relatively new to bank personnel, and banks have to deal with additional compliance and disclosure requirements.

Insight Financial Systems has introduced Investment Mentor, a workflow automation system designed to assist investment advisors with marketing and processing investment products.

The product includes a tool called Fund Showcase that offers graphics or multi-media presentations to highlight the bank's available fund options. It can include video presentations from fund managers, feature and benefit summaries, pie charts, and line graphs showing previous performance and statistics.

Another tool, Asset Allocation, collects and evaluates information about the potential investor's financial situation and risk attitudes. The system evaluates the information to determine the best mix of investment products.

With Portfolio Recommendation, the investment advisor can access fund presentations as well as track records and what-if scenarios for each recommended investment option. …

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