Unqork eBooks

Solution Brief: Wealth Management Account Opening

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© 2020 Unqork. All Rights Reserved A smooth initial customer experience has never been more important in the wealth management industry. Investors are moving from active to more passive funds, margins are shrinking, and new competition is emerging from robo advisors and other competitors. Today, most account opening experiences involve a number of manual steps and multiple back-and-forth cycles, resulting in days (or even weeks) until actual account setup. The result is a poor client experience, lost revenue, and excess cost and risk. Unqork's Account Opening Solution helps firms digitize the account opening process enabling faster revenue growth, lower costs, and reduced risks. Information is automatically collected from new clients through digital channels and self- service capabilities are provided across the entire workflow. Client experiences can be customized based on triggers such as sales channel, region, client preferences, products, and regulations. Client risk tolerance can be automatically assessed with a configurable suitability engine based on regulatory guidance and country preferences. The solution also provides improved access to analytics to help firms better understand customer behavior and preferences, which can lead to improved sales. The result is a dramatic reduction in onboarding times, an enhanced client experience, and amplified advisor productivity. And because Unqork's platform is built for flexibility and speed, you can get up and running in weeks instead of months with a solution that's tailored for your business processes. Wealth Management Account Opening Remove complex, manual work and improve initial customer experiences with seamless, self-service account opening while simultaneously streamlining backend processes. SOLUTION BRIEF Key Benefits • Accelerated time-to-revenue: Faster client account opening resulting in faster time-to-revenue. • Enhanced client experience: Deliver self-service capabilities across devices. • Eliminated manual work: Dramatically improve advisor productivity and minimize manual work. • Minimized risk: Reduce application processing errors and regulatory compliance. • Reduced costs: Mitigate operational cost through process efficiency and scalability. • Improved cross-sell revenue: Improve client management and cross-sell opportunities through advanced analytics.

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