At the Heart of Smarter Onboarding

Transcription

1 At the Heart of Smarter Onboarding Laying the Foundation for Client Centricity A user-friendly onboarding process creates a long-lasting, favorable first impression on customers. It is a complex process that directly impacts revenue in-flows. Financial institutions need a holistic solution that simplifies and streamlines the account opening process, and reduces average onboarding time. NIIT Technologies help deliver a compliant, efficient client onboarding solution that drives value across the business and provides the best possible beginning of client relationships. Our multi-device and mobile friendly onboarding solution helps wealth advisors gain new clients and meet the challenge of an ever-changing regulatory environment.

2 Build Durable Relationships, Grow Market Share Financial institutions desire to give smooth, trouble-free onboarding that sets the tone for a long term relationship with the client. However, firms face a multitude of challenges such as complex account opening procedures, new regulatory mandates, cumbersome manual and paper-based processes, and siloed legacy systems. To meet the demand of reducing the client onboarding cycle, organizations need to focus on simplifying and streamlining the entire process. We provide a workflow-driven, comprehensive client onboarding and account management solution that streamlines the entire new account enrolment process from electronic application to provisioning. From the initial customer meeting right up to the stage of capturing documents, information is integrated with business processes and routed through defined approval and compliance workflows.

3 Our Solution We with our significant experience in IT and BPO across the Wealth Management space can deliver the following IT-based and business-based solutions for financial institutions: IT-based Offerings Client onboarding workflow design Enablement and integration of platform components Automating client/account management process via workflow solutions Unified GUI for onboarding with rules engine Workflows to automate routine tasks and complex processes including hand-offs Integration with accounting platform, imaging/document management, Know Your Customer (KYC), and Customer Relationship Management (CRM) systems Multi-channel support Tablet/Mobile interface Sales Force Developer Community (SFDC) CRM and Wealth Advisor Desktop solutions Business Offerings Working with leading financial services firms, we have developed expertise on client onboarding. All our solutions are well adapted to the changing regulations. Client data maintenance services KYC operating model definition and implementation Compliance Services (KYC/FATCA) involving both platform implementation and operations management Onboarding, offboarding, and account maintenance processes Reporting dashboard that allow users to see request status in real-time with alerts/notifications

4 Key Features We offer a BPM-based Client Onboarding and Account Management platform that enables the firms to go paperless and virtually eliminate number of NIGO (Not in Good Order) transactions. The platform can be integrated in just a few weeks time to revamp hundreds of manual and disconnected processes into single, streamlined onboarding process. The platform helps us deliver a seamless, multi-channel experience that spans the entire client lifecycle. Our mobile, customized-for-specific-jurisdiction onboarding solution significantly helps wealth advisors gain new clients, while ensuring compliance to KYC and other regulations. While the solution competently incorporates most or all of the components of onboarding, financial planning, client contacting, and client meeting, it also provides basic CRM and reporting functionality.

5 Accounts Administration Client Onboarding & Administration Dashboard Multichannel Support Single View of Client Data Service Management Offboarding Cross-Sell Account Provisioning Account Activation Welcome Kits Web Product/Services Initiation Branch Agile & Scalable Approval/Decision Decision Rules Legal Checks KYC Approval Legal Contract Product Suitability Advisor Desktop Compliant to Evolving Regulations Due Diligence Verification Compliance/AML Checks Background/Credit Score FATCA Mobile/ Tablet Automated Workflow Document Set Generation De-duplication of Documents Auto-selection of Forms Automated Form Filling E-signature Paperless Process Data Capture Intuitive/Guided Data Entry Paperless Forms Document Collection Customer Profiling Product/Services Selection Onboarding Request New Client Request New Request for Existing Client

6 Right First Time to Deliver More Value Your Business Your Clients Your Advisor Benefits Faster time to revenue Control & complete visibility into the onboarding process Reduce cost of operations & storage Compliance to latest regulations Seamless onboarding experience Reduce time to setup account & start investing Ease of opening account through the channel of their own choice Leverage automation for the entire onboarding process including KYC & AML Consolidated view of client Perform gap analysis & gauge cross-selling opportunities by relevant reports How? Workflow enhances collaboration and reduce time & costs associated with manual, error prone onboarding tasks Streamline regulatory compliance Solutions provides end-to-end complete client onboarding capability Enables advisors to onboard clients through multiple channels such as Web, mobile/tablet, advisor desktop or branch Fully automated account opening workflow Better understand counterparty risk & exposure Dashboard depicting holistic client view Operations/IT Simple to install & support Easily customizable process flows without the need for coding Reduce handoffs and errors, freeing up time for other important activities Deduplication Data security Integrated archiving Case Study Success Story 1: Streamlines Account Opening Functionality for an Independent Broker Dealer A large independent broker dealer partnered with NIIT Technologies to streamline its account opening functionality. The engagement helped the client reduce the account setup time from 1.5 months to 2-3 weeks and enhanced the account opening experience of more than 7100 customers. Sucess Story 2: Delivered Accurate Alert Analysis for AML and Fraud NIIT Technologies' ADM and support services for advisor-facing applications helped a global financial services firm to provide 40% Full-time equivalent (FTE) savings for account transfers. Our 24X7 support to manage sensitive work also ensured that the client achieved significant cost savings. Delivering Robust Incident and Event Management Support Our solution addresses the critical client onboarding needs of growing businesses. More Power: Our powerful workflow engine orchestrates dynamic workflows through visual modeling. The solution provides dynamic and electronic in-built review and approvals. It provides easy, end-to-end integration with client-facing business processes. More Guidance: We provide step-by-step guidance through the process. More Intelligence: We provide a single product wizard that onboards all products, services, and account types. More Automation: All client forms and new document creation process are automated. More Consolidation: The client dashboard provides complete view of the client activities. More Mobile-friendly: The solution can work on all devices irrespective of the platform.

7 The NIIT Technologies Advantage We have extensive knowledge and experience of working with leading financial services firms (like independent brokers dealers, investment & fund processing solution providers, private banking, and investment management firms) in the capital markets space. Our innovative technological solutions have been catalysts in helping firms sustain the dynamism of the global economy. Reflecting our service vision New Ideas, More Value in our practices to serve the client, we have been innovating technology solutions that optimally and cost-effectively enhance business productivity. Over the years, we have delivered IT solutions and managed business operations for customer account opening and accounts administration space for a diverse set of clients. We leverage our domain expertise, coupled with our technical competence in Application Development, Support and Maintenance, System Integration, and Testing services for Accounts Administration. We have also helped re-engineer client onboarding and account maintenance business processes (e.g. e-account Opening, Free Asset Movement, etc.) and delivered significant improvements and cost savings within the operations environment. Our global presence comprising over 25 worldwide locations, a wide pool of talented resources in the BFS vertical and our endeavor to build long term relationships have enabled us to deliver high quality cost-effective solutions engineered to suit every client s requirements.

8 For more information, contact 2016 NIIT Technologies. All rights reserved. NIIT Technologies is a leading global IT solutions organization, differentiated on the strength of domain expertise; it services clients in travel and transportation, banking and financial services, insurance, manufacturing, and media verticals. Leading with its service vision New Ideas, More Value, NIIT Technologies is committed to delivering new ideas combined with operational excellence to provide exceptional value to its clients. The Company is focused on helping businesses design sustainable, optimizable and winning digital operating models, enabling them to become agile, scalable, and flexible. Visit us at C_22_ Stay connected: