Technology Benefits

Reduced Regulatory Risk

Compliance
Enhancement

Fulfil Consumer
Duty

Human Resource
Cost Savings

Client Narrative
Control

Increased Admin Efficiency

Outstanding Client Service

Rich Data
Collection

A Personalised Future

Personalised Video

Personalised Video combines video & data to deliver a better, more effective customer experience. Each video is unique to the individual,changing based on customer or contextual data.

Interactive Video

Interactive Video gives the viewer the ability to interact with the video content itself through a variety of tools. Users can click, drag, scroll & the video will adjust based on their unique selections.

AI Avatars + Personalisation
= Higher engagement

Hi John,
Watch the highlights of your Quarterly End Report.
FUM drive
Increase existing customer loyalty
Reduce operational & administrative costs
Effectively Addressing ComplianceTasks
Improve administrative processes
Data Collection
Fulfil Consumer Duty

Quarterly End Report Video Example

Personal/Dynamic & Interactive features

Customer Name - Data variable
Avatar - AI clone of advisor
Date - Data variable
Investment value - Data variable
Return value - Data variable
Quarterly End Report - Dynamic
Investor Type - Dynamic
Variable scenes - Interactive
Branding look and feel - Dynamic
Logo - Dynamic

Case Study - QER Results

We conducted a split test comparing a personalised Quarterly End Report (QER) video with a traditional QER email that prompted clients to download and read their report. The objective was to ensure, from a consumer duty standpoint, that clients were reactively engaging with their reports.

The results were highly encouraging:

  • The video achieved an impressive 96% watch rate.

  • Of those who watched the video, 78% interacted with it, confirming their understanding of their investor type and effectively minimising consumer duty and regulatory risks.

  • The campaign saw a 38% Call To Action conversion rate for downloading the QER report, a substantial increase compared to the 1.5% conversion rate from the traditional email approach. This represents a 28.6X increase in report downloads.

  • Additionally, 31% of clients provided feedback, all of which was positive and offered constructive suggestions for further enhancing the QER video experience.

85%

Email Open Rate

2.47

Video Plays Per Person

60%

Email Click Through Rate

78%

Interactive Engagements

91%

Landing Page Visits

38%

Call To Action Clicks

96%

Unique Video Plays

31%

Client Feedback Rate

AI Personalised Video Communications Technology

In today's highly regulated financial services sector, meeting the FCA’s stringent requirements effectively and efficiently is essential. Failure to comply with these standards, or to demonstrate adherence, is simply not an option for firms hoping to grow and prosper. Additionally, the burden of administrative paperwork puts at risk the element clients value most: face-to-face advice.

Hiring more staff to handle compliance and administration makes it increasingly difficult to meet the"value" principle outlined by Consumer Duty, as people are expensive.The combination of reduced fees and increased administrative costs are not conducive to a profitable profession.

The only viable option for the UK financial services industry to meet regulatory standards profitably is to do more with less. That is exactly what our technology facilitates.

Our communications technology is customised to include data and information specific to each client. It can elicit client responses and record them, ensuring that the full journey of client interaction can be audited as required. Disclosure requirements, testing client understanding, and product presentation requirements can all be delivered through a video tailored to that client.Moreover, this can be done using an avatar that looks exactly like their point of contact,  a version of the advisor they know and trust.

Chickpea technology won't replace face-to-face advice. It will help save it.

Platforms

Networks

FA’s

Banks

Wealth Management

An Elegant Solution for Financial Firms

FA’s, Networks, Wealth Management, Platforms and Banks urgently require innovative solutions to navigate the increasingly intricate regulatory landscape, with the FCA’s Consumer Duty legislation marking a significant paradigm shift akin to the impact of RDR.

Service

Ongoing fees constitute a substantial portion, comprising 77% of advisory firm income, necessitating stringent justification to maintain fee levels.

Value

Demonstrating value delivery becomes imperative to prevent fee reduction. Client understanding emerges as a pivotal requirement, yet documenting this without additional manpower pose schallenges.

Narrative Control

Measuring and acting on client outcomes demands scalable solutions to address needs efficiently. With an expanded media landscape, and traditional media outlets controlling the narrative and maintaining regular client contact is paramount.

Presence

The ability to engage with each client simultaneously and effectively manage staff interactions underscores the need for a more robust presence.

Engagement

Ultimately, firms must enhance their engagement strategies to embody the voice of reason and secure client trust.

The Need

FA’s, Networks, Wealth Management, Platforms and Banks urgently require innovative solutions to navigate the increasingly intricate regulatory landscape, with the FCA’s Consumer Duty legislation marking a significant paradigm shift akin to the impact of RDR.

Enhancing Communication

AIPV allows firms to create personalised & engaging video content tailored to individual clients needs, explaining complex financial concepts in an understandable manner.

Improving
Transparency

Through AIPV, Firms can transparently present information about financial products, services, & risks in a visually engaging format, ensuring clients have a clearer understanding.

Customising
Advice

AIPV can be used to create personalised advice & recommendations, showcasing different financial scenarios or investment strategies that align with a client's specific goals.

Increasing
Engagement

These videos can increase client engagement by offering interactive elements, such as clickable links for additional information or interactive decision-making tools within the videos.

Supporting Key Functions

Automated Interactive Personalised Video (AIPV) can support administration, regulation, consumer duty, and compliance in several key areas

Administration

AIPV can streamline administrativetasks by delivering personalised account statements, transaction confirmations, and performance reports to clients in an interactive video format. By automating the delivery of essential financial documents, AIPV can enhance efficiency and reduce theburden on administrative staff.

Regulation

AIPV can help comply withregulatory requirements imposed by agencies such as the FCA. By incorporating compliance disclosures, risk warnings, and regulatory updates into interactive videos, ensuring that clients receive important information in a clear and transparent manner, thereby fulfilling regulatory obligations.

Consumer Duty

AIPV enables you to prioritise the best interests of clients by delivering personalised financial advice, educational content, and investment recommendations tailored to each client's individual needs and preferences. By providing clients with relevant information and guidance, supporting informed decision-making and enhance consumer outcomes.

Compliance

AIPV can aid Financial Companies in meeting compliance requirements related to suitability, disclosure, and record-keeping. By delivering interactive videos that guide clients through the investment process and confirm their understanding of key concepts, and demonstrate compliance with regulatory standards whilst also promoting transparency and accountability.

Templates for Driving FUM

Client Engagement & Retention

AIPV boosts client engagement by delivering personalised, interactive content tailored to each client's financial goals, risk tolerance, and investment preferences. Engaging videos with valuable insights and educational content help financial companies strengthen relationships and improve client retention.

Cross-Selling & Up-Selling

AIPV enables financial companies to deliver targeted product recommendations and investment opportunities based on clients' unique profiles. Personalised videos showcasing relevant products and promotions boost cross-selling, up-selling, and revenue growth.

Onboarding & Account Management

AIPV streamlines onboarding with interactive tutorials, welcome messages, and personalised guidance on account setup and portfolios. It also aids ongoing account management by delivering updates, performance reports, and investment recommendations, enhancing client satisfaction and loyalty.

Financial Planning & Advice

AIPV supports financial planning and advisory services by delivering personalised advice, retirement strategies, and investment insights through interactive videos. Using client data and analytics, financial companies can offer targeted recommendations, helping clients achieve their goals and increasing FUM.

Marketing & Lead Generation

AIPV enhances marketing by delivering personalised promotional videos and targeted campaigns to prospects. Engaging, interactive content tailored to their financial needs attracts new clients, generates leads, and drives revenue growth.

A Streamlined Solution for Financial Services

Chickpea’s AIPV is a versatile tool that not only drives user growth and engagement but also reduces regulatory risks.

Compliance / Risk Management Pack

Disclosure Video
Client Vulnerability
Product Presentation Videos
- New Pension contribution
- Pension Transfer
- GIA Contribution
- ISA Contribution
- Onshore Bond Contribution
- Offshore Bond Contribution

Business Growth Pack

Fees Video
Who we are / Who I am Video
End of tax year - ISA’s Video
End of tax year - Pensions Video
HNW / Sophisticated Investors Video

Ongoing Service Pack

Quarterly Report Video
Client Review Prep Video
Personalised “Partner” videos
IMA decisions
Use of Provider Apps Video
Client Registration Video

Mortgage and Insurance Pack

Mortgages Video
Insurance Video
General Insurance Video
Private Medical Insurance

A Personalised Future For You

Exploratory Meetings

In the exploratory discussions, Chickpea will identify use case templates tailored to support key areas such as Consumer Duty, Compliance, Administration, and FUM drive.

Template Creation

Chickpea will proceed to scope out the project by creating templates aligned with both advisor and your branded guidelines. This process will be meticulously managed according to our Project Management Standard Operating Procedure (SOP).

Integrations

Chickpea seamlessly integrates with your CRM system to pull personal data variables and to deploy templates automatically triggered for your advisors, ensuring timely and efficient communication with clients.

Subscription Models

The subscription models offered by Chickpea are tailored to accommodate various factors such as the volume of templates, client video volumes, avatar creation, and technology management. This flexible approach ensures that clients can choose a subscription plan that aligns with their specific needs and usage requirements.