Case Study

One of the Largest Wealth Management Cloud Implementations in Europe

A platform for growth: a cloud-based solution optimised to support a rapidly scaling business with minimal impact on the cost base

The challenge

The customer firm was mainly concerned with how to effectively manage a growing customer base without the need to majorly scale the staff base:

  • How could front office staff support an increased number of clients per headcount, without compromising client servicing quality? Could opportunities be taken to improve customer service quality through a more proactive approach to customer management?
  • How could the ongoing management overhead associated with complex processes such as reviews be reduced, enabling the increased client base to be managed with a minimised impact on front office, compliance or operations resourcing? How could any scaling of the staff base, however minimal, be executed with minimal risk?

Additionally, our customer wanted to ensure that the solution could:

  • Seamlessly scale any underlying infrastructure as required to support the growing client base, user numbers and volume of data.
  • Support the business in meeting fast evolving set of regulatory requirements without needing to re-engineer any existing functionality
Cloud-based solution - a platform for growth

The solution

Wealth Dynamix implemented WDX1, a powerful solution based on Microsoft Dynamics CRM Online, to address the challenges faced by this customer.

Integrated 360-degree client overview

A comprehensive 360-degree view provided for each client, with intelligence-driven, prioritised cross-book calls to action delivered to users via centralised role-based home dashboards.

Comprehensive review processes

A fully-orchestrated set of reviews workflows, covering KYC, suitability and AML. Fully-automated, rules-driven maintenance of review calendars considering a combination of regulatory, business best practice inputs, such as risk level (KYC and AML frequency), MiFID client category and service (suitability relevance) and material changes of circumstance (review triggers).

Automated data & document reuse

Automated reuse of data and documents, where a person or entity is connected to multiple client records undergoing review, where permitted by regulation and business best practice.

Delivery into Microsoft Azure

Solution delivered into the Microsoft Azure cloud, positioning for seamless scaling of the underlying infrastructure as required to support the growing volume of data and users.

The outcome

Cloud migration

Successful migration of a database of circa 5 million records to the new cloud-based solution.

50% improvement in efficiency

Major improvements delivered into the review process, reducing combined cross-department man hours by circa 50%, allowing a theoretical doubling of the client base without the need to increase staff numbers.

Improvements in client satisfaction

Significant improvements in perceived end client satisfaction resulting from a more proactive approach to ongoing client management, enabled through proactive, intelligence-driven dashboard notifications.

Reduction in compliance risk

Reduction in compliance risk, achieved through the digitisation of regulation and business best practice. Improved audit trail achieved by providing a 360-degree view for every review case conducted through the system, covering all data and document changes, assessments and sign-offs.

The success of the solution delivered saw the customer initiate further work with Wealth Dynamix to prioritise the delivery of prospect management and onboarding. The objective? To super-charge existing levels of business growth, now that the customer had complete confidence in dealing with larger client bases in a cost-effective, risk-mitigated and compliant fashion.

"I have become increasingly impressed by Wealth Dynamix. They have established a good relationship with our team and have continued to support us at every stage of the project. I look forward to the continued work we do with Wealth Dynamix."

Speak with an expert

Sign up to our Newsletter

Request a Demo

Client Onboarding