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Check6 Wealth Blog

The Need To Feed: Stay In Control In Turbulent Times

Posted by Hella de Jong on Apr 20, 2020 9:15:00 AM

You cannot ignore it anymore, COVID-19 has changed the lives of people dramatically in the last months worldwide. Governments are trying their utmost to mitigate the spread of the Coronavirus in order to contain it in a better way. In reality this reflects in staying at home as much as possible for most people.

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But does this also mean that life has to come a complete standstill? No, of course not! Statistics provide us prove.

How we keep our social lives running and flourishing is a great example. With the rise of social distancing, everyone is seeking other methods to stay in contact. Facebook’s website traffic for example, has increased with 27% since the COVID-19 outbreak. Other apps like Nextdoor and Houseparty also experienced an increase of users with 79% more website traffic.

Offices are empty, but does this mean that we don’t work as a team anymore? It does seem like we found other methods of working together. Look at the usage of remote work apps like Zoom, Google Hangouts, Google Classroom, and Microsoft Teams. The daily sessions have risen from 4 million before the corona virus outbreak, to nearly 19 million sessions a day now.

So, how do we retrieve information? Again the answer seems to point towards online methods. The online traffic to news and informational sites increased on average by 100%.

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The online acceleration of the digital world is something we also see within our client base at Check6. Markets are bumpy. On a daily basis there is a lot of news, and market circumstances seem to change daily given the amount of uncertainty investors are facing.

From an investor’s point of view, we really understand the need for information. Basically, you want to know four things:

  1. What happened to my wealth?
  2. Why did it happen?
  3. How does this impact me?
  4. Who can guide me through this?

As investors can only express a view on how they expect the markets to develop and allocate funds to these expectations, all of the questions mentioned above are both relevant and important along the way. Situations may and will change and investors need to be reactive to act on these changes.

Good news! There are multiple technological solutions available where systems can help answer the first three questions. For example, Bloomberg recently launched an Artificial Intelligence / Natural Language Programming add-in. The result? Well, within the Bloomberg Terminal not only the current situation can be analysed. On security level an, it can also give explanation about why a certain situation occurred. In combination with the pre-trade compliance and scenario analysis, a powerful tool is created to assist investors in explaining the first three questions we just mentioned. Next to Bloomberg, there are other very good solutions like Evestment, Microsoft Power BI, Reuters, Factset, and Eximius.

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The last question we can categorize as high skilled investment advice. An advisor can, after providing answers to the first three questions, guide the investor through the world of opportunities. Especially in the current global situation, it is important to be on the ball and to be close on your wealth. Being able to answer questions in times of uncertainty is key and will be the differentiator between gaining, losing, or even endangering long term portfolio goals.

There is one component we did not discuss yet and that is how we enable all these systems to function in an optimal way. Well, the answer is simple: Check6. Check6 has direct data feeds with over 65 different banking platforms in Europe, the US, and Asia. On a daily basis, all your investment data (holdings and trades) is being fed into our clients dedicated platform, as well as the systems our clients use, such as Bloomberg or Microsoft Power BI and many other investment analysis and reporting systems. In addition, the same data is fed to accounting systems, so no time has to be spent on manual activity as it can be digitized.

Check6 offers a unique solution on aggregating investment data and processes this straight through your system of choice, in the format which is needed for your system. It is readily available. Especially in these turbulent times the added value of having all your investment data fully reconciled and up to date at your fingertips shouldn’t be underestimated.

You want to be in control of your wealth, right? Let us help you to take some worries away. Check our website to see what else we have to offer your (and your business)!

If you want to read more on the data security at Check6, click here, or if you want a little more information on why using an excel spreadsheet for your financial data is risky business, click here.

Topics: direct data feeds, automatic data feeds, 360-degree overview, data feeds, financial data management, Consolidated Data

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