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BBI of Chicago
May 2022

Advisor Robot, Internet of Things and the Financial Market

By: Ana Claudia Santos.

Currently, the representation of digital channels and online transactions carried out by banks has surpassed the 63% mark, and account openings carried out by smartphones have grown by around 66%. The increase in this data makes it evident how fast we are moving towards a more technological and innovative financial market, with various forms of service automation in the sector.


Regarding investments, we have as an example the contribution of the robot-advisor, coming from industry 4.0, which is an investment planning service linked to portfolio diversification. It exists to facilitate and automate investments as if it were a medium and long-term investment portfolio manager using algorithms. They invest in fixed income, CDB, LCI and LCA, hedge funds, stocks, and ETFs. It is suitable for people with little experience in the financial market: those unaware of the options offered but would like to take a greater risk in search of profit, not so conservative.


In the process, the API, or Analysis of the Investor Profile, is made. After obtaining the answers it needs, the robot improves the information and presents a portfolio with investments that fit the investor's profile through an algorithm. This becomes viable because it is easy and saves the investor time daily to dedicate himself to investments, studying, and analyzing the market. The cost of using the robot tends to be lower than those of the investment fund - in banks, the management fee can reach 4%, and in one of the Fintechs, the cost is below 1%. The low cost will make this modality gain even more space in the coming years, and there will be a reduction of obstacles imposed by investors who are afraid of venturing into the financial market. It is also alluring to those who do not have technical knowledge about the sector and have an assessment that is less prone to errors.

As for disadvantages, it is noted a lack of human contact. And in Brazil, in particular, it still has limited services as it is a recent alternative.

The internet of things (IoT), which is seen as a great technological revolution with the aim of connecting what we use on a daily basis with the computer network, has already been frequently used in developed countries, making physical and digital become one. We notice its existence in the financial market through Near Field Communication, a technology that allows the exchange of information between devices without using wires and cables. Examples of such technology are Samsung Pay's payment by approximation, and Santander's PASS, which allows making purchases with adhesives or wristbands, methods already used in Brazil.

The financial market requires constant innovation, and the more technology evolves and the more “things” connect in the IoT, the more financial services will transform and get closer to the retail customer in the financial market.

As an extension of the internet of things, we can notice the existence of IoT Banking in the All Pay application, a payment method used by individuals and companies, which satisfies the user's banking needs with voice commands: such as balance inquiry, statement of a certain period, application and consultation of funds, among other searches. The ability to change is essential for all business activities, and for banks, evolution comes with these changes.

As positive points for the institutions that work and adhere to the new processes, we can highlight the reduction of failures and brand modernization, greater conversion in sales and flexibility, customer loyalty, and billing optimization.

For customers, the advantages involved are convenience and time optimization, flexibility, security, accuracy, precision in transactions, and a relationship of trust with the company.

Applications change the lives of people and thus make daily lives easier. New projects and trends are being studied, such as mobile payment via a "connected car," turning the Internet of Things into the Bank of Things.



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