Get to know more about our R&D project
Overview
We’re passionate about research and we want to make a difference to the financial services industry!
Using a range of tools and processes, combined with research and bespoke support, all built around the idea of a digital doorway, the My Factfind project is about creating a cost-effective framework that can be configured around unique business needs and workflows. The “digital doorway“ refers to a customisable online interface that serves as the primary point of interaction between financial advisory firms and their clients. This concept goes far beyond traditional web portals by offering a highly personalised and secure environment tailored to each firm’s specific needs.
What does our Research & Development look like?
The My Factfind R&D project has significantly benefited from Mirata Ltd‘s expertise in Learning Management Solutions (LMS) and web-based training. Our company’s experience in creating interactive, online learning environments has been leveraged to enhance the user onboarding process and ongoing education for financial advisors using the My Factfind platform.
By applying our knowledge of instructional content assembly and distribution, Mirata has developed comprehensive, interactive tutorials and guides within the project, helping users to fully understand and utilize all features of the platform.
Our company’s skills in facilitating online mentoring have been adapted to create a support system where experienced users or Mirata staff can provide real-time assistance to new users, fostering a community of learning and best practices. Furthermore, the principles of relationship-based learning that Mirata values can be incorporated into the project, encouraging collaboration and knowledge sharing among financial advisors using the platform. This integration of LMS concepts could significantly enhance user adoption, proficiency, and overall satisfaction with the My Factfind project.
This approach to developing a CRM solution for financial advisory firms is distinctly different due to its integration of Learning Management System (LMS) principles with client relationship management tools. While traditional CRM systems focus primarily on data management and workflow automation, Mirata’s approach incorporates elements of interactive learning, community building, and continuous education directly into the CRM platform. This hybrid model represents a new and unique approach in the financial advisory sector.
What are some of the technological uncertainties we have encountered?
Unique integration
The combination of CRM functionality with LMS principles in the financial advisory context is unprecedented. Competent professionals in either CRM development or LMS design would not typically possess the cross-disciplinary expertise required to envision and implement this integration effectively.
Industry-specific challenges
The financial advisory sector has unique regulatory requirements, data security needs, and client interaction models. Adapting LMS concepts to meet these specific demands requires specialized knowledge that goes beyond standard CRM or LMS development.
AI integration complexity
Incorporating AI for data analysis and personalized recommendations within this hybrid CRM-LMS system presents complex challenges. The interplay between AI algorithms, financial data, and learning modules is not a straightforward application of existing knowledge.
Customization at scale
Creating a system that can be highly customized for individual firms while maintaining scalability and performance is a complex challenge that requires innovative solutions not readily available in existing systems.
Ethical considerations
Balancing the need for comprehensive client data collection with privacy concerns and ethical use of AI in financial advice requires careful consideration and novel approaches that are not common knowledge in the field.
Continuous learning model
Developing a system that not only facilitates learning for users but also continually improves and adapts its own AI models based on user interactions is a sophisticated concept that goes beyond traditional CRM or LMS capabilities.
The My Factfind project represents a significant technological advance rather than mere innovation due to its unique integration of cutting-edge technologies and its adaptive approach to solving complex industry challenges.
The incorporation of AI-augmented processes goes beyond traditional CRM systems by providing intelligent, context-aware interactions and data analysis, enabling more accurate and personalized financial advice. Furthermore, the implementation of Quantum Safe encryption is a forward-thinking approach to data security, anticipating and mitigating future threats posed by quantum computing. This level of encryption is not yet common in the industry and demonstrates a proactive stance on long-term data protection. The project’s ability to create a highly customizable digital doorway, that adapts to diverse business needs showcases an advanced level of flexibility and scalability not typically seen in off-the-shelf solutions.
By combining these advanced technologies with deep industry-specific knowledge, the My Factfind project pushes the boundaries of what’s possible in financial advisory CRM systems, creating a solution that not only meets current needs but is also future-proofed against evolving technological landscapes and regulatory requirements. This comprehensive and forward-looking approach elevates the project from innovative to technologically advanced.
These factors collectively create a unique set of challenges that require innovative thinking and solutions beyond the scope of existing knowledge in either CRM or LMS fields, making the knowledge sought in this project not readily deducible by competent professionals in either domain.
How can you get involved?
By following us on the social media platforms below, you can stay updated on our latest developments, share our content with your networks, and participate in discussions. Your likes, comments, and shares help increase our visibility and reach a wider audience. We also encourage you to provide feedback, share your experiences, and suggest ideas that could enhance our project. By actively participating in our online community, you play a crucial role in contributing to our research, shaping the future of financial advisory technology and fostering innovation in the industry.
Find out more about My Factfind by contacting support@mirata.ltd.uk.
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