# Anthony Morrow On The Future Of Robotics Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-11-17 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: CEO Anthony Morrow on Future of Robotics in Financial Sector Meta Description: Discover the latest insights from Anthony Morrow, CEO of evestor.co.uk, on the trends and challenges facing robotics and robo-advisors in the financial Tags: featured Tag URLs: featured (https://financedigest.com/tag/featured) URL: https://financedigest.com/anthony-morrow-on-the-future-of-roboticshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd171117-5-1736843237404-compressed.jpg) **Anthony Morrow,** CEO of evestor.co.uk comments on what the future holds for robotics and robo-advisors: ![Anthony Morrow](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd171117-5-300x200-1736843237319-compressed.jpg) Anthony Morrow In recent years, the financial service sector has increasingly moved from a very paper-based environment to one where much can be done online, whether you are setting-up a pension, managing your money or making an investment. This [trend is only set](https://www.financedigest.com/top-10-fintech-trends-set-to-take-off-in-2022.html "Top 10 Fintech Trends Set To Take Off In 2022") to continue as people become more comfortable carrying out these sorts of transactions digitally.A recent survey from L&G showed that [nearly half](https://www.financedigest.com/meta-to-take-nearly-half-of-sales-made-by-its-metaverse-creators-as-fees.html "Meta to take nearly half of sales made by its metaverse creators as fees") of mortgage brokers see robo-advice and technology as the biggest threat to their business in the next three years. However, placing the emphasis on [threats and being concerned](https://www.financedigest.com/japan-bans-chemical-weapons-related-goods-to-russia-concerned-by-nuke-threats.html "Japan bans chemical weapons-related goods to Russia, concerned by nuke threats") about change is misplaced. Instead, financial services companies should be looking at how they embrace new technologies, as this will [create greater opportunity](https://www.financedigest.com/tire-materials-market-to-create-an-incremental-opportunity-of-us-99-99-bn-by-the-end-of-2028-fmi.html "Tire Materials Market to create an incremental opportunity of US$ 99.99 Bn by the end of 2028 – FMI") in the long-term. There are some obvious hurdles to overcome in the financial sector. At the moment, robo-advice is in its infancy.This is down to the constraints of capital and resource of the providers, whose capital investment decisions are heavily scrutinised; but also down to customers’ trust in managing their [finances digitally](https://www.financedigest.com/why-digital-transformation-in-finance-is-crucial-for-post-lockdown-success.html "Why digital transformation in finance is crucial for post lockdown success"). To develop a sense of [trust amongst consumers](https://www.financedigest.com/trusting-in-trust-marks-enhancing-consumer-trust-in-your-ecommerce-business.html "Trusting in trust marks: enhancing consumer trust in your ecommerce business "), there needs to be some form of supervision of the systems that are being used. The [human element is important to be able to understand and manage the risks of robotics](https://www.financedigest.com/robots-are-making-french-fries-faster-better-than-humans.html "Robots are making French fries faster, better than humans"). [Cyber security](https://www.financedigest.com/the-future-of-cyber-security.html "THE FUTURE OF CYBER SECURITY") is an added pressure, but something that will be overcome in time as we see more developments to tackle this. Fintech has benefited from a very benign environment, with low cost of credit and record levels of [venture capital](https://www.financedigest.com/the-risks-and-rewards-of-investing-in-venture-capital.html "The Risks and Rewards of Investing in Venture Capital") money taking advantage of low interest rates.This will inevitably run its course, so fintech [businesses need](https://www.financedigest.com/no-collateral-no-problem-here-is-what-you-need-to-know-to-secure-a-business-loan.html "No Collateral, No Problem: Here is What You Need to Know to Secure a Business Loan") to think about how they’d succeed in a more challenging environment. Another interesting development that will present a challenge for the sector is PSD2, or the Revised Payment Service Directive. [Next year](https://www.financedigest.com/uber-rival-bolt-seeks-to-turn-profitable-next-year-ipo-in-2025.html "Uber rival Bolt seeks to turn profitable next year, IPO in 2025"), banks will need to allow their traditional customer base to use third party providers to manage their finances. PSD2 started as an EU initiative to break down banks’ monopoly on their user’s data. It allows merchants, like Amazon, for example, to retrieve [customers’ account data from their bank](https://www.financedigest.com/how-close-can-banks-get-to-their-customers.html "How close can banks get to their customers?") with their permission. That means they can make a payment directly for the customer, without having to redirect them to another service like PayPal or Visa. It will be interesting to [see how these big](https://www.financedigest.com/bae-systems-sees-big-opportunity-in-space-after-uk-satellite-bolt-on.html "BAE Systems sees big opportunity in space after UK satellite bolt-on") players can overcome this set back. Those that do will form the [future](https://www.financedigest.com/sustainable-finance-the-wave-of-the-future.html "Sustainable Finance: The Wave of the Future") of the financial sector as robotics becomes increasingly prevalent. The [growing use of technology](https://www.financedigest.com/sulphur-recovery-technology-market-value-to-grow-by-almost-1-2-billion-during-2021-2031.html "Sulphur Recovery Technology Market Value to Grow by Almost .2 Billion During 2021-2031") should be embraced as it can only be a good thing for the industry. It can help to benefit customer relationships, as their experience improves and the [costs are lowered](https://www.financedigest.com/companies-cost-inflation-is-slowing-but-shoppers-may-wait-for-lower-prices.html "Companies’ cost inflation is slowing but shoppers may wait for lower prices"). Building trust, adapting to more challenging times ahead as well as an abundance of patience are the essential ingredients for long [term success](https://www.financedigest.com/xledgers-long-term-local-support-for-bristol-sport-a-successful-partnership.html "Xledger’s long-term local support for Bristol Sport – a successful partnership"). The challenges that it will bring, as any change does, should be viewed [positively as opportunities](https://www.financedigest.com/infant-positioning-aids-market-application-trends-growth-opportunities-and-worldwide-forecast-to-2027.html "Infant Positioning Aids Market Application, Trends, Growth, Opportunities and Worldwide Forecast to 2027"). --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---