Digital Investment Rank 2021 for banks, brokerage firms, and asset management companies
Market overview & Benchmark

Learn the shift towards top digital investment solutions

The Digital Investment Rank 2021 emerges as a cornerstone research document, unveiling the dynamics and development trends of digital investment platforms in a country in Eastern Europe. This pivotal analysis, conducted in 2021, rigorously assesses numerous platforms across three main sectors - banks, brokerage firms, and asset management companies - detailing their capabilities to cater to the burgeoning mass market of novice investors. The study meticulously evaluates these platforms on various performance metrics, aiming to provide a comprehensive benchmark for existing services while highlighting improvement opportunities for service providers. This research serves as an invaluable resource for financial institutions seeking to refine their digital strategies and enhance user engagement and satisfaction within their investment services.

  • 10 Brokers
  • 10 Asset management companies
  • 11 Banks

Update!

This research is conducted annually. In 2024, the next iteration of the Digital Investment Rank is available to all stakeholders. Contact us for the most up-to-date information.

Researh highlights

Evolving trends in digital investment

The Digital Investment Rank 2021 identifies a significant shift in the investment landscape, where a mass market previously accustomed to traditional savings methods is now navigating towards more dynamic and potentially lucrative digital investment platforms. This transition underscores a critical need for digital services that are not only accessible but also sufficiently informative and user-friendly to support novice investors.

User experience at the forefront

A core finding of the study is the pivotal role of user experience in attracting and retaining new investors. Platforms that succeed in demystifying the investment process and offering straightforward navigation tools have demonstrated higher engagement rates and customer satisfaction. This insight is crucial for banks, brokers, and asset managers as they refine their digital offerings to cater to a less experienced audience.

Integration of educational tools

Another significant observation from the research is the importance of integrating educational resources within digital platforms. The study reveals that providing clear, actionable investment guidance and educational content can greatly enhance the user's ability to make informed decisions, thereby increasing their confidence and willingness to engage with more complex investment products.

There is the critical importance of simplifying digital investment platforms and integrating educational tools to effectively attract and retain a growing mass market of novice investors.

Practical benefits of the Markswebb research

The insights derived from the Digital Investment Rank 2021 provide strategic advantages for a variety of stakeholders within the financial sector, particularly those looking to enhance their digital offerings. Here’s how different sectors can leverage this research.

Banks

  • Enhance user onboarding: Implement simplified, educational onboarding processes to help new investors understand their investment options, which can increase customer retention and satisfaction.
  • Optimize product offerings: Refine investment products to ensure they meet the needs of a broader audience, including features that cater to novice investors.

Brokerage firms

  • Improve client education: Develop comprehensive educational resources within the apps to empower users, helping them make informed decisions and build trust in the platform.
  • Simplify trading interfaces: Redesign trading interfaces to make them more intuitive, reducing the intimidation factor for new investors and enhancing overall user engagement.

Asset management companies

  • Personalize Investment Solutions: Tailor investment solutions to individual user profiles, which can help in attracting a diverse client base and responding to their specific financial goals and risk tolerance.
  • Enhance User Interface: Streamline the user interface to make navigation and operation straightforward, encouraging more frequent and confident investment activities.

Tech providers

  • Develop Better Tools: Use the insights to develop and refine tools that improve user experience across digital platforms, supporting more effective management of investments.
Are novice investors dropping off due to complex interfaces or missing guidance?

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Our methodology

The methodology underpinning the Digital Investment Rank 2021 combines rigorous data collection with nuanced analysis to provide a holistic view of the digital investment landscape. To accurately evaluate the performance and user-friendliness of digital investment platforms, we employed a mixed-methods approach, ensuring a comprehensive and reliable analysis.

Selection criteria

We meticulously selected a representative sample of 31 digital platforms across banks, brokerage firms, and asset management companies. Each sector was chosen based on its influence and reach within the digital investment market.

Evaluation framework

Our evaluation framework was developed in collaboration with industry experts and included a variety of performance indicators such as user interface design, accessibility of investment tools, educational content availability, and overall user experience. This framework ensures that each platform is assessed against standardized criteria to maintain objectivity and relevance.

Data collection techniques

We utilized a combination of mystery shopping and expert reviews to gather data. Mystery shoppers simulated typical customer interactions on each platform to evaluate the real-world experience of average users, while expert reviews provided an analytical perspective on the technical and operational capabilities of the platforms.

Analysis and scoring

Each platform was evaluated and scored based on its performance across predefined categories, specifically focusing on investment products. This included mutual funds (PIFs), bonds, structured products, and pre-built investment strategies. The research involved a combination of mystery shopper techniques and expert evaluations using formal and heuristic criteria.

Evaluation system:

  1. Task Blocks: Each application was assessed based on its ability to handle specific user tasks related to investments. These tasks were chosen based on their popularity and importance to users.
  2. Weighting Criteria: Scores were weighted according to the importance of each task, as determined by Markswebb experts. This weighting reflected how critical each task was to users and how frequently they were performed.
  3. Final Scoring: The final score for each platform was the sum of the scores for each task block, multiplied by the respective weights. This comprehensive score indicated how well the platform provided a complete user experience for investment management.

By structuring the analysis in this way, the research offers a detailed, quantifiable snapshot of each platform's strengths and weaknesses, allowing financial institutions to identify areas for improvement and better meet user needs.

By the way, we're proud of our research methodology, which excels in comparative analysis by meticulously organizing all gathered data to enable objective comparisons between various applications. We decompose services into their essential elements, assign weights according to user significance, and derive a score that truly represents the quality of the user experience.

digital investment

Best practices for brokerage applications for investors

The full report contains three rankings for Brokers, Management companies, and Banks, and also a database of over 100 practices from banks, asset management companies, and brokerage applications, explaining why these practices are the most effective. Let’s take a part of the mobile banking research as an example.

Brokers who were the first to adapt their applications for mass clients have gained popularity among beginner investors.

Currently, compared to 2020, the top-ranking companies are those that simplify investments for newcomers, and their number of active clients has grown the most in a year.

Companies whose services are geared towards professional traders or a narrow audience, such as clients of affiliated banks, have shown the least growth in the number of active clients and even experienced some churn.

How brokers can simplify the application for mass clients

Onboarding

The application can feature educational articles, stories, and even courses with assignments. Most brokerage applications provide minimal support for beginner investors. After opening a brokerage account, clients often don’t know where to start.

Clear display of securities

Instead of complex charts and terminology, provide a clear overview of companies and forecasts from analytical firms. Offering separate interfaces for beginners and experienced traders makes the service convenient for all clients.

Easy purchasing

Simplified purchase/sale forms at market prices without professional terminology. Investing doesn’t end with buying securities; clients need guidance on what to do next.

Convenient portfolio display

In the list of securities, display only the essential parameters: name, current lot prices, yield in currency and percentage.

To summarise

The Digital Investment Rank 2021 provides an in-depth analysis of the evolving digital investment landscape, revealing essential trends and opportunities for enhancing user engagement and satisfaction. Our research highlights the necessity for platforms to simplify their interfaces and integrate robust educational resources to cater effectively to novice investors. We invite industry stakeholders to leverage these insights to refine their digital offerings, ensuring they meet the demands of an increasingly digital-savvy client base. Collaborate with us to transform these findings into actionable strategies that will propel your business forward in the competitive financial market.

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