Why Capnote Was Created & Is Needed

Capnote is an intelligence and productivity platform for financial professionals. It was created to help individuals and organizations save time, make better decisions, collaborate and further monetize their expertise or data. Click here to discover Capnote’s unique approach and technologies that give users significant advantages.

The platform was envisioned by financial professionals with decades of experience across multiple continents. Throughout their careers, they came to realize the following:   

  • There are significant untapped opportunities to save time and costs.
  • There are significant untapped opportunities to generate income and deepen client engagement.
  • The mass market is underserved by legacy tools, which have not evolved with the times.
  • There are significant labor shortages of financial professionals with far-reaching consequences.
  • Financial inclusion and education are more important than ever and require suitable technology.

Read more about these below.  

Significant Opportunities To Save Time & Cost.

Capnote leverages automation, machine learning and artificial intelligence to help individuals and organizations save time, improve decision-making and discover new opportunities. This directly leads to gains across the top and bottom lines. 

“Financial services companies could generate $140 Billion in productivity gains and savings by modernizing workforce technologies.” – Accenture

These estimates from Accenture are for organizations in North America. Click here to read the full article. In addition, this also points to a global productivity opportunity as the rest of the world could realize similar benefits. For example, below is another quote from a research report about financial services in Africa.

“A significant part of the banking value chain remains dependent on manual tasks, driving 60 to 70 percent of costs. Research suggests that there is more than 50 percent automation potential across selling, general, and administrative (SG&A) functions and 40 to 60 percent cost-savings potential from using automation in these functions.” – McKinsey

Capnote has been designed to be accessible and affordable to ensure more individuals and organizations can access technology that taps into these benefits and synergies.

Significant Opportunities To Generate Income & Deepen Client Engagement.

To discover and take advantage of accretive opportunities, financial professionals must actively keep track of large amounts of current and historical data such as financial statements, key dates, price cycles of commodities and others. However, individuals have limited bandwidth and cannot constantly process data quickly enough to generate an advantage. Capnote automates the tracking and processing of data for professionals as well as the generation of smart alerts or algorithm based notes. 

Furthermore, with changing client generations, the digitization of financial service experiences is becoming essential to driving client engagement and satisfaction. 

“About 70 percent of all bank interactions today are via mobile, with only about 20 percent of customers indicating that they prefer face-to-face contact for dialogue, social, or expertise reasons. Banks that are leading in this space are developing frequent customer engagement outside of traditional channels, providing customers with ease and convenience and taking advantage of AI for ultra-personalization—which is necessary to compete in cluttered markets—while reducing cost to serve.” – McKinsey

Capnote has been designed to be an intuitive and enjoyable digital experience that leverages interactive technologies for personalization and collaboration. Organizations can white label and customize Capnote to the needs of their clients and teams whilst maintaining full control. This would be much more cost effective that trying to build and maintain their own digital platform. Capnote has already been deployed on this basis for wealth management firms and banks.

The mass market is underserved by legacy options, which have not evolved with the times.

Information is absolutely essential for all financial professionals. It is impossible to make good decisions and enhance performance without access to broad, timely datasets.  However, the wealthiest have unlimited budgets for information and custom data technologies while the mass market is wholly underserved. This results in significant information asymmetry and differences in performance.  

Below are some of the reasons why legacy financial information platforms do not meet the needs of the entire market: 

  • Prohibitively expensive with limited options for individuals and less wealthy organizations.

  • Outdated user experience that is complicated, unintuitive and inflexible. Many professionals do not enjoy using legacy tools and do not learn from them.

  • Lack of automation and productivity assistance as they do not help users actively process data and Legacy tools have typically just served as big data warehouses.

  • Legacy tools do not actively help users earn income or rewards from their participation, expertise or data.

Capnote has been designed by financial professionals for the mass market. The platform provides modern cutting-edge solutions at prices that will not break the bank. For individuals, Capnote can even be accessed for free or on a premium basis. In addition, Capnote’s enterprise platform can be customized to better suit the workflow, standards and appetite of professionals and organizations.

Labor Shortages Of Financial Professionals With Far-Reaching Consequences.

It is becoming increasingly difficult to find qualified financial professionals to hire. According to the Association for Financial Professionals, nearly 60% of treasury and finance functions report that they are facing a talent shortage. This has significant implications for business growth and the job satisfaction of other team members. In a recent study, the Manpower group highlights the following implications of labor shortages in finance: 

  • Increased expectations on remaining team members
  • Risk of compliance issues
  • Increased audit risk
  • Inability to close the books
  • Greater employee dissatisfaction and/or burnout
  • Potential for higher turnover

In addition to the above, we also note, reduced sales momentum, slower management reporting & decision making and higher costs from wage inflation or employee turnover.  
Capnote’s use of cutting edge technologies such as automation and machine learning empowers financial professionals to achieve more with limited resources. The platform also empowers adjacent functions such as procurement or sales to better understand and utilize financial data for their own purposes.

Contact us at team@capnote.com. We’d love to hear your thoughts and questions.

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