First event of its kind in MENA, organised by Fintech Robos<\/strong><\/p>\n\n\n\n Manama- Bahrain: <\/strong>The future of financial Robo-Advisor as one of the most talked-about sectors of fintech in the space of savings and wealth management, specifically in the MENA region, is the key theme of the \u2018Robo Advisors & Mass Affluent Savings in MENA\u2019 Webinar, organised by Fintech Robos, the Bahrain-based providers of savings and pensions technology.<\/p>\n\n\n\n \u201cAccording to a recent survey, a massive 89% of financial advisers believe that Robo-advisory is posing a threat to traditional advice. Meanwhile, nearly half of customers in the United States are willing to forego human expertise favouring Robo Advisors,\u201d said Ebrahim K Ebrahim, CEO of Fintech Robos.<\/p>\n\n\n\n He says that Robo Advisors offer the holy grail that all financial institutions are looking for – a bridge between offering excellent innovative services and a low-cost approach. \u201cThe cost of establishing and running a Robo-based savings and wealth management firm is about five times less than that of a traditional wealth management institution, which threatens incumbent large financial advisory firms,\u201d.<\/p>\n\n\n\n It\u2019s estimated that globally there are around 200 Robo Advisers, operating largely in developed markets, with their assets under management approaching US$ 2 trillion. For financial inclusion advocates, Robo Advisers promote financial inclusion by facilitating easy investment decisions and giving savers access to higher returns for lower charges.<\/p>\n\n\n\n Despite this, Robo Adviser businesses that have achieved profitability and sustainability are less than a handful, which perhaps reflects the difficulties surrounding this business model.<\/p>\n\n\n\n \u201cAn increasing number of industry commentators don’t think human advisors are going away any time soon, saying as convenient as it may be, this technology doesn\u2019t make human financial advisors obsolete. Hence, many traditionally minded clients remain sceptical about the future of robo advising,\u201d added Ebrahim.<\/p>\n\n\n\n He elaborated that the aim of organising this first-of-its-kind webinar in the region is to create a vital debate and information-sharing platform on the landscape and future outlook of financial robo advisors in the MENA region.<\/p>\n\n\n\n \u201cSimply put, we aim to build better institutional awareness on the progress and merits of Fintech solutions for affluent savings and wealth management, especially financial Robo Advisors.<\/p>\n\n\n\n Top-notch CEOs and leaders of Robo Advisor businesses, including StashAway, Amundi, FNZ, Madkhol, DirectFN Road, will participate in the webinar which will be live-streamed from Bahrain on 18 May 2022.<\/p>\n\n\n\n Questions to be addressed by the webinar include: how will the future unfold for Robo Advisors, and are they here to stay? Or are they just a fad that will soon run out of steam? Can Robo Advisers find their place in the region side by side with the banks and private wealth providers? And what does it take for Robo Advisers to become a serious competitor to the banks in the household savings business?<\/p>\n\n\n\n