Digitalising the Wealth Management Customer Experience

Challenge

The growth in FinTechs has been exponential over recent years and shows no signs of slowing. People now enjoy greater choice, flexibility, and intuitive experiences to help manage their money and investments in a way that suits their lifestyles. At home, at work, on the move. Previously mainstream banks could rely on their reputation and a lack of serious competition. But they’ve been disrupted by digital challengers who offer better product experiences, superior customer service, and more efficient employee working models. So digital transformation is the number one priority for the industry.

The user experience of our client’s global Wealth Management product application process was in need of urgent transformation. Relationship Managers were being forced to visit customers with reams of paper forms in order to complete product applications. This was impacting their productivity whilst also lowering standards in service for high-end customers. 

They needed a sustainable, entirely digital solution that was pain free, quick for both parties and worked on a global level.

Solution

Adopting a user-centric and agile approach as well as drawing on our expertise with Java products like React, we designed and developed a Digital Forms Platform. It enabled Relationship Managers to efficiently identify the correct product forms, display them on their devices, and complete them with the customer.

The Digital Forms Platform gave Wealth Management customers a more seamless, premium service than before and saved significant administration time for staff. The extra speed and efficiency it added to the process helped to cut product application times from weeks to days.

In delivering the platform, we mastered many language and cultural nuances whilst working with client teams across six different locations and multiple time zones. Enhanced security was also a critical success factor as was our  ability to empower internal teams to manage content and product updates quickly and efficiently.