In a recent meeting with a large financial services institution, the ever-relevant question of data usage vs. protection and ethics was at the core of the conversation. For centuries banks have been trusted with people’s money and until recently, the customer was given a reward via interest for having money in a bank account.
In 2019 the question is no longer whether people will trust the banks with their money, they will. Unless of course the negative interest rate environment will make the mattress an interesting alternative. However, the big question now and in the years to come is whether customers will trust the banks to keep, use and manage their data even if this will create unique and tailored customer experiences.
So in a sense it can be argued that personal data has become more valuable than money or a least a source we are very careful about giving away. And if you have seen the new Netflix documentary ‘The Great Hack’, it is understandable that we are very careful about our data.
In that light data has become a fragile size and for the large financial service organisations, GDPR and other regulatory instalments has made managing customer data a significant compliance challenge.
For a single-minded fintech company like Coherra however, building a large community for both professional and retail investors, the data management problem facing large banks, is a juggernaut of opportunity to match investor profiles with investment opportunities and vice versa. And in this process create customer experiences beyond anything ever experienced in the investment community.
Coherra is a never before seen hybrid. At the one hand we are a company providing intelligence for clever investment decision making, but operating like a media company we stray from dry and often boring print-born analyses to providing video based content presented by the best fund managers, thoughts leaders and other profiles with insights to share.
Using Artificial intelligence and particularly machine learning we create personalised relevant content for investors seeking investment opportunities matching their investment and risk profiles. It works much like LinkedIn where recruiters filter through millions of relevant candidates before presenting the top ones to their employer. Coherra filter through thousands of possibilities but to the user, only the relevant investment opportunities are presented.
Where larger financial institutions tend to fight to protect and promote their own branded products and services – with the limitations associated with this old-school thinking – Coherra is a portal into all investment opportunities available and by leveraging the aforementioned artificial intelligence capabilities we create tailored customer experiences curated from thousands of opportunities.
Finally, it is an ambition of Coherra to create financial entertainment for our audience far beyond gaming where the term has been used in the past. In addition to the targeted match between investor and opportunity, Coherra is a community built for likeminded people with a sincere interest in sharing insights, discussing finance and investments.
Thinking like a media company it is only natural to think entertainment into the equation as this will create sticky customer experiences worthy of people’s time and… data.