IFS recently announced new integration capabilities between its process automation solutions for onboarding, account maintenance, asset movement and other processes, and client's CRM tools. With the CRM integration, financial services firms can make the most of existing data stored in your firm's CRM and open accounts and complete other requests quicker and easier.
The Internet is a treasure trove of information and insight especially for financial services professionals who enjoy web browsing. We’ve compiled a list of the top blogs for financial services professionals to follow. These blogs cover a wide range of topics such as industry news and trends, commentary and FinTech. Whether you’re an advisor, IT professional, or in an executive position for a firm, these blogs will ensure you’re well-equipped to help your clients meet their investment objectives in today’s constantly evolving landscape.
In the first post of this series, we explored the overall benefits of agile methodology, and explored how an agile approach can be beneficial to financial services firms who want to implement some sort of process improvement/automation solution, but aren’t sure where to start or what to ask for. This post will explore the opposite challenge—when firms think they know exactly what they want in their solution from the beginning. We’ll call this Scenario B.
Topics: Business Process Automation
According to a survey conducted by Schwab Advisor Services and published in Financial Advisor Magazine, less than 20 percent of financial advisors believe their firm is doing the most they can with their CRM system. The same survey indicated that 98 percent of advisors most often use their CRM to store client information, and 61 percent use their CRM to prepare and send client communications. While these two functions are powerful capabilities of a CRM, they only scratch the surface of what financial services firms could do with their existing CRM.
In this series of blog posts, we are exploring the reason why organizations go through the effort, expense and disruption of pursuing process automation projects. This post explores our thought process when we think about end-to-end process efficiency in automation efforts.
With so many emerging enterprise technologies, it’s difficult for today’s insurance companies to determine which systems will bring real value to their firm. And, in today’s competitive landscape, insurance distributors and carriers are looking for ways to lower their costs by streamlining operations, while enhancing customer service and attracting top talent. Insurance operations are complex—from new business to policy administration and account maintenance, operations professionals juggle numerous components of the insurance cycle.
Topics: Business Process Automation
As its name suggests, agile development methodology requires a level of flexibility and adaptability. Professionals from any industry who have embarked on a process automation project or solution implementation know that the success of their project is dependent on a commitment to flexibility. But this is especially true for financial services firms. Between the evolving expectations of today’s investors and the constantly changing regulatory landscape, flexibility is vital.
Within the financial services industry, perspectives vary widely on whether new customer onboarding is a front office or back office function. In fact, a 2011 study from the Aite Group showed that, among small wealth management firms, 26% of respondent viewed new customer onboarding as a front office automated tool, whereas 46% of respondents saw it as a back office function. And, among large to midsize wealth management firms, only 8% of respondents indicated that new customer onboarding is a front office automation tool, and 64% responed that onboarding is a back office function.