Personalised Video Communication Technology
Elevating Funds Under Management (FUM), Customer Engagement & Reducing Regulatory Risk & liability through Automated Interactive Personalised Videos (AIPV).
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
Watch the highlights of your Quarterly End Report.
Quarterly End Report Video Example
Personal/Dynamic & Interactive features
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.
Email Open Rate
Video Plays Per Person
Email Click Through Rate
Interactive Engagements
Landing Page Visits
Call To Action Clicks
Unique Video Plays
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
- New Pension contribution
- Pension Transfer
- GIA Contribution
- ISA Contribution
- Onshore Bond Contribution
- Offshore Bond Contribution
Business Growth Pack
Ongoing Service Pack
Mortgage and Insurance Pack
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.
