As 2016 closed its doors, the publishers of the Digital Banking Report hardly took a breath before unveiling the top trends and predications for the global financial services industry in 2017. They surveyed experts from 760 financial institutions and more than 100 global leaders in the field, from Africa, the Americas, Europe and Australia, and arrived at the conclusion that the client experience, coupled with seamless innovation, was the trend to watch.
In fact, 54% of institutions aimed to remove friction from the customer journey and the majority were working to improve how they used data and advanced analytics, while 45% were seeking to improve multi-channel delivery.
At RMB Private Bank, innovation, responsiveness and the experience of our clients has been a major driver for decades; 2017 is no different. Testament to this is our latest innovation, nav», which is designed to take the frustration out of the home buying experience.
nav» is more than just a home loan acquisition tool, it is a full solution that will help you navigate the home buying process from start to finish. Use nav» to get an instant value estimate of your existing home, to find properties in the area you desire and for pre-approval of your bond amount. It also assists with finding movers, interior decorators and handy calculators to ensure you are firmly in the driving seat when it comes to your property finances.
In this newsletter, we take you behind the scenes at nav», introducing you to the thinking behind this handy financial GPS. We also update you on the section 7C tax legislation with respect of trusts, remind you to take advantage of the annual donations tax exemption, and offer insights into the need and value of life insurance. Plus we include, as usual, our Market Overview of both local and global markets.
With the World Economic Forum now behind us, we've compiled impressions from our experts reflecting on the key take-aways from the annual gathering as well as commentary on the performance of Team SA at Davos. Finally, with the world spinning from the new policies and approach being taken by the new Trump administration in the US, we don a business hat in our downtime section, transporting you to two capitals very much in the news at the moment: Washington D.C. and Mexico City.
Corporate executives, entrepreneurs and busy Type-A personalities often struggle to relax and find 'downtime'; but invariably, the December holidays are an exception to the rule with family time firmly on the agenda.
Over the years, writers, commentators and deep thinkers have celebrated the need for individuals to take time off for personal reflection and to recharge their batteries. American businessman Alan Cohen is famed for saying, "There is virtue in work and there is virtue in rest. Use both and overlook neither," while Leonardo da Vinci, considered one of history's greatest intellects, once observed: "Go away and take a relaxing break, and then when you come back to your work, your judgment will be better − because remaining constantly at work will hinder your power of judgment."
Fortunately, today's modern and connected world, makes it possible to take these breaks, enjoy a change of scenery and still be in control of your finances. We take a technologically-savvy look at the end of the year in our final newsletter of 2016, highlighting some of the innovative services you can enjoy as an RMB Private Bank client travelling either abroad or locally − possibly by way of a bit of fun during golf's 2016 edition of the Alfred Dunhill Championship.
We also take this opportunity to highlight new and established RMB Private Bank rewards as well as our usual market overview insights, and to focus on some aspects of legacy during a time when you and your family are focused on the future.
With this in mind, this edition of the RMB Private Bank newsletter takes on a holistic family focus as we turn our attention to the intricate interplay of finances within relationships and how astute planning should reflect the concerns and aspirations of the entire family unit.
As our usual market overview highlights, the South African economy is hardly robust at the moment, so legacy preservation and risk protection for business and personal assets is high on our clients' priority lists. We delve into this important topic across a series of articles, including a look at alternative investments that offer long-term growth coupled with easy access to your capital.
In line with our legacy approach to investing, we offer insights into investing for your child as well as ways in which couples can, and should, continually adapt their financial plan to their stage of life and responsibilities. This is wealth preservation for families and should be an important, and ongoing, discussion between you and your wealth advisor.
Of course, we also recognise that life's pleasures are part and parcel of enjoying your hard-earned wealth, so we take a look at the upcoming RMB WineX and share some insights into this rejuvenated industry courtesy of wine guru Michael Fridjhon.