Client Lifecycle 360 for Financial Services

Unify onboarding, servicing, and transacting in a single, future-proofed customer-facing hub using no-code

Both retail and institutional clients increasingly expect Amazon-style experiences from their financial institutions. Namely, seamless, intuitive digital engagements. They want digital onboarding. They want self-service access account servicing, including 24/7 access to detailed, comprehensive financial information. They want the ability to initiate, track, and complete all kinds of transactions on a self-service basis. And crucially, they want to do it all from a single, unified hub that they can access from the device of their choosing. 

Besides keeping up with rising customer expectations, digitizing the client lifecycle delivers a host of benefits to financial institutions, from lower account management costs to increased lifetime customer value. “Better experiences for customers lead to increased throughput in their sales journeys (and therefore more revenue) and lower friction in service journeys (and therefore lower cost to serve),” McKinsey analysts write.

Retail banks have made significant progress in this regard by offering high-gloss apps that service day-to-day functions such as 24/7 account information and remote check deposit capabilities. Still, even retail banking leaders have found it much more challenging to integrate these apps with more complex aspects of the customer lifecycle, such as customer onboarding and applications for new financial products. Institutional firms tend to lag even further behind. Many still manage day-to-day client transactions via email and phone calls, with all the time, cost, and risk of human error that these manual processes entail. 

Firms do not lack the will to innovate more quickly. Rather, a combination of technological and business challenges have slowed innovation. To digitize the entire client lifecycle, banks must integrate customer-facing experiences with a disparate array of backend technologies, including accounting systems, financial transactional engines, and third-party services, from payment systems to Know Your Customer (KYC) applications. No single point solution on the market can connect the full breadth of systems, databases, and business teams involved. Where point solutions are available, they’ve inevitably required manual coding to serve the entire client lifecycle. Until recently, such projects required traditional code-based or low-code approaches, which come with risk and cost.

For these reasons, firms have had to invest significant time and resources every time they sought to iterate or extend customer-facing digital services. This form of technology debt is a particular concern in the financial industry, which is subject to a constant onslaught of change, from ever-changing regulations to the acceleration of mergers and acquisitions. 

“Unqork gives innovation leads like me the ability to rapidly prototype, build MVPs, then iterate on product-market fit before we go to market in full.” —Joseph Lo, Vice President of Wealth Product Innovation, Broadridge 

No-code provides a new path forward. With an all-visual, no-code application platform like Unqork’s, financial firms gain the “digital glue” to integrate every piece of the sprawling financial services infrastructure—and connect them to a unified, omnichannel customer-facing hub. With Unqork’s platform, developers—Unqork calls them Creators—can quickly design and build client-facing applications without writing a single line of code. 

This is possible thanks to plug-and-play integration, which seamlessly connects client-facing experiences with all underlying systems that support an end-to-end digital transaction. “Unqork gives innovation leads like me the ability to rapidly prototype, build MVPs, then iterate on product-market fit before we go to market in full,” says Joseph Lo, vice president of wealth product innovation at Broadridge. 

By accelerating development and dramatically simplifying integrations, no-code enables financial services firms to digitize current client lifecycles quickly and, just as important, rapidly extend and enhance them going forward.