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Transforming Stakeholder On-Boarding for a Financial Services Leader

The Client

An asset management company and a leader in retirement services and investments with over 40 years of experience. 

Business Challenge

  • Lack of a centralized mechanism for onboarding new customers. 17 separate departments used 20 different systems and over 170 different tasks
  • With over 500 emails per stakeholder onboarding, employees had to go through a large amount of data, making it time consuming to track activities, departmental owners, and tasks
  • A unique set of requirements based on a combination of Asset Classes, Strategy & Share Class to which a customer has to be on-boarded
  • The onboarding processes were not scalable. Coding, development, and testing were required to roll-out new strategies/service offerings to the customer
  • The onboarding processes were collaborative leading to missed deadlines and non-compliance, with no system driven SLAs.

Our Solution

We have used our award winning Stakeholder Onboarding Framework which leverages Appian’s Enterprise Application Platform to streamline, accelerate and enhance stakeholders' digital onboarding experience. The framework utilizes the power of the Appian workflow engine to ensure smooth configurable workflow and rules that enable business users to navigate through the onboarding journey with ease.

  • A 26-week project using an iterative (Agile) methodology to configure all the existing client strategies
  • Customization of the iCOB framework to collect customer and fund data
  • Enhancements to the framework to:
    • Configure and automatically trigger tasks based on data collected during onboarding
    • Automatically compute expected and actual funding dates based on SLAs
    • Define dependencies between tasks
    • Prioritize tasks to achieve the funding dates

Delivering More Value

  • Automation of the onboarding process for all the existing combinations of Vehicle Types/Asset Classes and Strategies
  • The ability to add new Asset Classes and Strategies, by configuration rather than coding, reducing the software development time by 50%
  • System driven SLAs, Approvals, Tasks, and Data Collection sections have improved transparency and operational efficiency by 20%
  • Tasks are triggered automatically based on customer data, which has improved operational and regulatory compliance by over 80%
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