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Lionpoint + Unqork: Transforming Digital Onboarding for Financial Services

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In a finance industry Tech Talk, Lionpoint and Unqork discussed how to achieve efficiencies in the onboarding process and improve the investor experience.

Jonathan Balkin, Co-Founder and Executive Director of Lionpoint Group, and his colleague Michael Tracy, Director of Private Markets Advisory, joined Unqork’s Associate Partner and Private Assets Lead Paul Larkin in a recent Tech Talk for the financial services industry.

According to Michael, there is an enhanced "desire for private markets to really offer a holistic and multi-strategy suite of solutions and products to their clients and customers. That presents a number of challenges that ultimately impacts the investor experience at the end of the day.”

The biggest challenge? Onboarding, which can cost up to $25,000, can take up to 34 weeks to complete all legal and KYC requirements, and require up to 100 documents circulated per client. “We all want to be able to have the information at hand and be ready to answer questions to provide insights and give a really strong customer experience to the LPs of the broader fund structure,” Michael explains. Unfortunately, all these human-in-the-loop interventions and manual processes hinder that seamless experience. 

Onboarding can cost up to $25,000, can take up to 34 weeks to complete all legal and KYC requirements, and require up to 100 documents circulated per client.

With pressure on Sales, Investor Relations, and Operations to deliver assets under management (AUM), a slow client onboarding experience is detrimental to the bottom line. So, Lionpoint and Unqork partnered to create a solution to help accelerate the investor lifecycle with a digital onboarding application. 

Improve the investor experience with digital onboarding

The Lionpoint-Unqork solution is an automated investor onboarding process with self-service features. It enables firms to digitally execute key parts of the process including fund subscription documents, accreditation, wire instructions, and more. Orchestrated workflows across teams and dashboards provide a real-time view of onboarding, while KYC and AML info is automatically collected and verified.

Check out the demo.

Supported by Unqork’s no-code capabilities and Lionpoint’s global consulting expertise around enabling asset management technology solutions, the digital investor onboarding application is easily configurable to meet your needs. Firms can replace their existing portal, or they can seamlessly add new functionality to current systems as required by their investor base. “Where we often intersect with a CRM is when you move from the point of sale into how to orchestrate very complex, cross-functional processes to actually onboard an investor and set them up on downstream systems,” Paul explains.

Jonathan added that while the investor onboarding piece is vital, it is only one part of a bigger puzzle of solutions. “As we look at fundraising cycles, we feel like our clients are in this perpetual fundraising mode in one way shape or form,” says Jonathan. “Another big area is the employee co-invest process, like an election to co-invest in an opportunity or take a loan. We can really facilitate that entire process all within Unqork."

To learn more, watch the full webinar here.

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