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Autonomous Finance
The notion of autonomous finance is a very interesting idea to explore. Now we have to rely on either self-directing our portfolios or handing our money over to financial advisors who figure out ways to grow our money, at some point soon everything will mostly be done by autonomous agents. Included below are some notable quotes from this article.
- "The future experience of a consumer will be centered around machine-driven finance where financial lives are automated and financial outcomes improve greatly."
- "As it frees financial institutions from the need to make trade-offs between better service and cost, Autonomous-finance models will give rise to a new set of competitive factors (CUSTOMIZATION, EXPERIENCE, ECOSYSTEM) on which financial institutions can differentiate."
- "Also, the demarcation between spending, borrowing and wealth management will break down as one service-based offering manages the flow of customers’ money across multiple accounts."
- "Deposit accounts are no longer the locus of control for customers as the center of the retail customer experience shifts to financial-management platforms. The creation of new connections between capital and assets will result in new pools of capital to access alternative assets."
What are your thoughts on autonomous finance and how far off do you think we are from this being mainstream?
Medium
Autonomous-Finance Offers a Re-Imagined Idea of Banking.
Future experiences will be centered around ‘self-driving finance’ which automates much of customers’ financial lives and outcomes.
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