Robo Advisory moves forward in Italy

The traditional banking advisory service is going to be shaken by the digital innovation and the advent of the Robo Advisory services, driven by the increasing demand of customers for innovative channels and services.
The banks should ride this wave and diversify their advisory model creating a new digital value proposition for their customer.
PwC conducted a research to verify the attractiveness of this advisory solution in the Italian market so to define the main guidelines in choosing the business model that fits better.
The analysis shows that:

• The clients are ready - 40% of the population is positive to the adoption of fully automated advisory services. We expect this percentage to grow in the future.
• Multiple models arise - No "one-solution-fits-all" in advisory services.
• Robo Advisors are the "Uber" of financial services - The Italian and International regulation are still striving to regulate this new sector.
• Different services should target different clients - The future advisory business model should take into consideration not only the traditional customer segmentation but also behavioural attitude based on our survey (Smart, Multitasking, Traditional).