A user-friendly onboarding process creates a long-lasting, favorable first impression on customers. It is a complex process that directly impacts revenue in-flows. Financial institutions need a holistic solution that simplifies and streamlines the account opening process, and reduces average onboarding time. Coforge help deliver a compliant, efficient client onboarding solution that drives value across the business and provides the best possible beginning of client relationships. Our multi-device and mobile friendly onboarding solution helps wealth advisors gain new clients and meet the challenge of an ever-changing regulatory environment.
Financial institutions desire to give smooth, trouble-free on-boarding that sets the tone for a long term relationship with the client. However, firms face a multitude of challenges such as complex account opening procedures, new regulatory mandates, cumbersome manual and paper-based processes, and siloed legacy systems. To meet the demand of reducing the client on-boarding cycle, organizations need to focus on simplifying and streamlining the entire process.
We provide a workflow-driven, comprehensive client on-boarding and account management solution that streamlines the entire new account enrollment process from electronic application to provisioning. From the initial customer meeting right up to the stage of capturing documents, information is integrated with business processes and routed through defined approval and compliance workflows.
We with our significant experience in IT and BPO across the Wealth Management space can deliver the following IT-based and business-based solutions for financial institutions:
IT-based Offerings
Business Offerings
Working with leading financial services firms, we have developed expertise on client onboarding. All our solutions are well adapted to the changing regulations.
Key Features
We offer a BPM-based Client Onboarding and Account Management platform that enables the firms to go paperless and virtually eliminate number of NIGO (Not in Good Order) transactions. The platform can be integrated in just a few weeks’ time to revamp hundreds of manual and disconnected processes into single, streamlined onboarding process. The platform helps us deliver a seamless, multi-channel experience that spans the entire client lifecycle.
Success Story 1: Streamlines Account Opening Functionality for an Independent Broker Dealer
A large independent broker dealer partnered with Coforge to streamline its account opening functionality. The engagement helped the client reduce the account setup time from 1.5 months to 2-3 weeks and enhanced the account opening experience of more than 7100 customers.
Sucess Story 2: Delivered Accurate Alert Analysis for AML and Fraud
Coforge' ADM and support services for advisor-facing applications helped a global financial services firm to provide 40% Full-time equivalent (FTE) savings for account transfers. Our 24X7 support to manage sensitive work also ensured that the client achieved significant cost savings.
Our solution addresses the critical client on-boarding needs of growing businesses.