Hybrid hyper-personalized portfolio advice for Affluent & Private Banking clients - powered by Kate, our digital assistant Qorus Banking Innovation Awards 2023

We transformed our current full human advisory proposition into a digital hybrid advisory proposition. In this new solution, Kate, our intelligent digital assistant, and the clients Relationship Manager work together in managing the clients advisory portfolios. The solution consists of 4 parts : 1. We created a smart portfolio advice engine. We used our KBC Asset Management knowledge and fund management expertise and techniques and created a smart risk/return based advisory engine. Today, Kate screens all our Private Banking advisory portfolios every day on 129 risk and return factors. She monitors how these portfolios evolve compared to our KBC Asset Management Strategy, detects optimizations within the portfolio and generates automatically personal investment proposals in open funds (using a quant optimizer algorithm), taking into account the client's investor profile, MiFiD boundries, ESG and other specific investment preferences. If action is needed in a portfolio, Kate triggers the Relationship Manager to take action, and provides him with a fine-grained analysis and a pre-generated advice proposal. 2. We added the capability to have Kate deliver these personal advice proposals digitally to our clients via the KBC Mobile App. After review of the proposal, the Relationship manager can ask Kate to deliver the advice proposal digitally to the client. Kate triggers the client to look at the proposal by sending a push notification in the KBC Mobile app. She gives the client context and details concerning the proposal and the proposed products in a completely MIFID compliant way. The client can sign the orders digitally, which are consequently placed in the market. The Private Banker is kept in the loop by Kate, is triggered when he needs to intervene proactively and is at the disposal of the client to assist and to answer any questions. 3. Kate also generates personal stock advice proposals and sends them STP to clients. This is a very innovative service. Clients receive buy/sell opportunities faster than before, and do not depend on the availability of their Private Banker to receive and act on these proposals. Clients pay an extra fee for this service. Proposals in new product emissions were added recently. Automated proposals to reinvest maturities will be added as well. 4. As an extra, Kate unburdens the client regarding order execution. Once the orders are executed in the market, she informs the clients via the KBC Mobile app.