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Asian FinTech Podcast – Episode 02 – Jovin Shen – Privé Technologies – You Can Not Say That Money Is Not Emotional

Michael Waitze sits down with Jovin Shen, Global Head of Business Development at Privé Technologies, to have a conversation on FinTech and Wealth Management in Asia.  Jovin has a background in wealth management in North America and was working in the Canadian banking sector before moving to Hong Kong to get closer to the companies that bring true innovation to the wealth business, the FinTechs.

The hosts share their experiences from the banking space on how tech services have been solving industry pain points and creating new opportunities since the early millennium.  Today, the cutting-edge financial advisory role is a bionic one that gives clients the best of a combined human and robotic approach. The real opportunity to utilize the market today comes from approaching wealth management as a bionic service that builds relationships through human interaction and confidence through data driven analysis. The conversation dives into the topic of gamification, what risks and opportunities it offers, and what difference it really makes to gamify a part of a wealth journey if the financial literacy levels among your clients are low.

In addition to this, Jovin shares his views on how the financial landscape’s obsession with Millennials is missing the perspective of Gen X. These customer segments are the ones who are most likely to have inherited wealth, have adopted technology and have been able to build capital over a longer period of time. Being able to reach out to all customer segments is about the human interaction part of your business, not the technological back-end.