Mass customisation: FT/AMRO ‘product of the future’ challenge
The FT and AMRO Asset Management launched a competition in the summer for the dream savings product. The winning entry, in the spirit of the challenge, was a simple rounding-up scheme at the supermarket till: cash added instead of cash back.
Chris Drew and I, as creators of the ‘Lambda’ long term asset model, had a very different idea, much more ambitious in scope and demanding in terms of the inputs required to bring it to market. It is an idea we have proposed in the past to firms that we think have the right brand to challenge existing standardised products, using investment and delivery technologies to solve the problem of mass customisation. It remains a challenge too far – not just for the FT/AMRO judging panel. But mass customisation of dynamic goal-based portfolios will happen.