This Canadian national financial services bank focuses on physicians and medical professional needs in Canada. The company offers comprehensive retirement estate and planning, wealth management, financial planning, investments, insurance, and banking services, with more than 50 regional offices throughout Canada.
- 25,000 new customers annually
- KYC (Know your customer)
- Microsoft Dynamics 365
- Broadridge R-Broker platform
- Database query
- iText7 PDF utility
- Robotic process automation (RPA)
This wealth manager enrolls over 500 customers weekly into their financial products and services. Before opening an account, customers must meet with a financial advisor to confirm their information for KYC compliance (i.e., Know Your Customer). As many customer details were already present in the company’s CRM system, the company sought to streamline the onboarding process by providing these details to the financial advisor prior to the face-to-face consultation. Leadership wanted to speed up the onboarding process and improve the client experience.
The automated solution sources existing customer information from multiple internal CRM platforms and database tables and applies user-managed business rules to enrich this data. The gathered data is entered into a PDF which is then distributed to team members via MS Dynamics 365. Also, the automation identifies missing data for review and update at the consultation. As a result, the financial advisor can focus on confirming the existing details rather than spending time entering the data from scratch.