Business Benefits
Operational efficiency
We provide private banks and wealth management firms with the ability to improve the overall operational efficiency of their firm.
ENHANCED AUTOMATION
We allow wealth managers to focus on customer-centric goals that directly impact their revenue maintenance and growth.
How can Client Lifecycle Management drive operational efficiency
Wealth Dynamix provides private banks and wealth management firms of all shapes and sizes with the ability to improve the overall operational efficiency of their firm. We do this by digitising complex rules and complex processes, and infusing both of these – as well as certain client communications – with automation. This dramatically reduces the amount of manual work required, as well as the rate of rework and allows wealth managers to focus on customer-centric goals that directly impact their revenue maintenance and growth.
Here’s just some of the recent results our clients have experienced
Key Capabilities
Process automation
A sophisticated and flexible workflow engine allows a full range of industry-specific processes to be infused with automation, from onboarding and reviews to amendments and service requests. Exception notifications are automatically identified and distributed to the relevant parties, for whom they are auto-prioritised and categorised.
Integration
Combining the process automation capability of the solution with a powerful integration layer and a rich ecosystem of pre-integrated specialist third-party tools further supercharges the automation potential and the associated efficiencies we deliver. Why go on re-typing data, or copying data and documents between multiple locations?
Efficient document management
Our solutions digitise the complex rule sets that define exactly what documents need to be gathered, distributed and signed. Furthermore, where distribution is required, our solutions can pre-populate those documents and automate the distribution to the identified signatories. As a final step to removing document-related overhead, our solutions also add automation to the document expiry identification and document refresh process.
Intelligent data capture & re-use
Our sophisticated, best-practice data maintenance capabilities allow us to understand exactly what data needs to be captured against an individual, organisation, product, or service in a given scenario. This principle of data minimisation not only adheres to data privacy regulation best practices but also reduces data entry overhead. Data entry overhead is further supported – by the integration layer allowing data to be automatically pulled from third-party sources – and by our intelligent reuse capability allowing a person or organisation’s data and documents to be automatically reused across any client relationships to which they are connected. Of course, data entered can be auto-validated to ensure complete coherency and consistency. Our solutions also understand exactly how long data can be considered accurate and validated before refresh procedures – such as KYC reviews – are initiated.
Compliance automation
Compliance is easy when you’re on top of it. That is why we adopt a compliance-by-design approach. Automated compliance checks and tracking help ensure that client interactions adhere to regulatory requirements, reducing compliance overhead while simultaneously reducing the risk of non-compliance and associated fines. Accurate and timely regulatory reports are available in real-time and retrospectively, reducing the administrative burden of compliance reporting.
Audit trail
Auditing – both internal and external – can be a time-consuming and complex process. Our solutions take the hard work out of auditing by providing comprehensive, easy-to-use audit trails covering not only the creation, modification, access, or deletion of client data and documents but also the wider processes through which such data or documents might have been affected.
Streamlined communication
Communicating with your customers and keeping them up to date should not have to be a choice between good service and efficiency. Our solutions allow communications to be automated, with careful consideration of segment, preference and triggering event all inputs that can be considered in determining the appropriateness of automated communication channels versus traditional communication channels.
Data analytics
Data is a valuable asset, but only where that value has been unlocked. For many firms, unlocking the true value of their data can be a challenge. Our range of insights and analytics capabilities allow you to realise the true value of your data and to do so quickly and easily through the use of an initiative user experience. For those looking to take things one step further, AI capabilities can be applied to enable natural language querying of data and automated trend and insight identifications. At Wealth Dynamix, we never want to see an efficiency opportunity missed. That’s why we even use the insights and information visualised to further refine the processes we manage through the solutions – it’s what we call our philosophy of continual improvement.
Resource optimisation
Our solutions allow you to understand exactly which teams and functions are under-resourced or over-resourced. They also show you which tasks are proving most time-consuming, enabling the business to continually adjust its resourcing and resource application to get the best possible results for the business and your clients. It’s remarkable how much more easily and efficiently business goals can be achieved when a solution is designed to help maximise collaboration and to support all team members in executing their responsibilities more easily and more consistently.
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LATEST INSIGHTS
17 April 2024
Achieving profitability at scale: the potential for AI
We delve into the use of AI technology in wealth management. Far from belonging to a far-distant future, it is here and growing more intelligent by the day.
5 min. read
2 April 2024
Empowering client-facing relationship managers and advisors: Perspectives from Wealth Dynamix’s APAC head
Hubbis recently hosted a digital dialogue focusing on the application of the latest digital solutions for the Relationship Managers and advisory in the world of Asian wealth management, as technology revolutionises the offerings and efficiencies across the broad wealth management community in the region.
5 min. read
21 March 2024
Wealth Dynamix welcomes Luna Investment Management as a new client, empowering proactive Client Relationship Management and regulatory compliance
Wealth Dynamix, a leading provider of Client Lifecycle Management solutions for private banks and wealth managers, announced Luna Investment Management as a new client as part of our partnership with Third Financial.
3 min. read
