Pricing in Wealth Management
The AI pricing agent
Pricing is one of the most important profitability levers in wealth management. However, price discounts are mostly defined by the relationship manager within pre-defined bandwidths mostly to reward or to increase the total business volume of a client relationship. This approach usually does not take into consideration clients’ different willingness to pay resulting in substantial price leakage.
AI-powered analytics support the identification of optimal price points by client type. Willingness to pay, risk of not winning / or losing a client relationship shall be discovered in a data-based approach.
Modulos AutoML effectively selects the best models to analyze client’s willingness to pay and helps to create data-driven decision making for Relationship Managers