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Platform that delivers an omni-channel experience across all users

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What’s the big idea?

The Wealth Management sector has a variety of different functions ranging from Private Banks wanting to manage their network of external IFAs to Single/Multi Family Offices. Each sector has different requirements and as a result systems to deliver customer experience.

The industry however is moving to an era of collaboration and fintech requirements. Utilising multiple systems can be tedious both for the operational efficiency of the business and client communication.

Profile have created an omni-channel web based platform called ‘Axia’ that can easily be utilised through various deployment options such as established research firms. It is available to be deployed as a:  

  • Multi-Custodian Bank model for IWMs
  • External IWMs’ Network platform of a Wealth Management firm or a Bank
  • Digital front-office solution for RMs and their clients
  • Stand-alone Client Onboarding solution
  • and end-to-end Family Office model

Deployment is available for private and public cloud implementation, or on premises.

This allows the firm to deploy the option that best meet their requirements with the objective of delivering the best user experience both for their clients and their professionals.

In terms of optimising customer experience, Axia has been developed to offer an array of functions that automate client communication, through inbuilt tools such as:

  • Client Relationship Management (CRM)
  • Interaction tracking (calls, meetings, emails, etc.)
  • Document management (library of documents to share and archive client documents)
  • Calendar
  • Tasks and activities
  • Questionnaires Management
  • Rules Management and Engine
  • Workflow & Case Management

In addition, the dashboard design available can be whitelabeled.  Given the access rights, the user and client can view the same information and easily access all portfolios and transactions in one go.  The drag n’ drop options offer the flexibility for the users to view the widgets and sections that are of prime interest.  Reports can be produced on every view and the online search allow for instant access to information if needed.

Some other features that enhance the organisational agility that ultimately support the client experience include:

  • The enriched trading functions allow professional investors and their clients to trade online in various markets and asset classes, through multiple channels. Users can update orders’ status, view partial or full executions and the relevant trades using a blotter. Initiation of an order is facilitated by a smart symbol search, watchlists and through a view of the tradeable part of a client’s existing portfolio.
  • The enhanced financial planning functionality includes clients’ financial status with their assets, liabilities, expected income and expenses, current investments, loans, pensions as well as future goals. The module’s calculator determines the feasibility of set goals and proposes an appropriate course of action to overcome any shortfalls.
  • Axia’s Workflow Management provides a completely flexible and dynamic environment to the user that enables him/her to set up workflows for client onboarding and advisory, based on a rich library of available activities that include all internal and external functionalities which can seamlessly integrate with existing workflows.
  • Axia’s front-end offers an out-of-the-box dashboard incorporating numerous panels, layouts and widgets, client onboarding, CRM and advisory tools, as well as portfolio and document management functionalities that run on any device using a web browser. Other characteristics include selection of themes, logos, dashboard panels, menus, forms and questionnaires, all resulting in enhanced user experience and business agility.

Needless to mention that the platform already has ready to use interfaces with custodian banks and out-of-the-box reports with the option to add more as needed.

Ultimately the client is able to login into a system that delivers branded and tailored service to his/her needs with the layout, colours and format as needed. The sections displayed cover the full range of specific industries and new ones can be added with ease. The whole platform is accessible online offering 24/7 access.

The idea is also to develop the platform further so as to accommodate not only systemic functions but also client service functions. New features to be added allow for automation of the workflow of the investment operations with the Wealth management firm to select the functions that need to be managed, like a hybrid robo-adviser. Therefore a wealth management firm will be better able to decide on the functionality needed by the system to deliver services online for a selected group of people thus opening new market segments.

How will this idea benefit and impact your business?

Ultimately the client is able to login into a system that delivers branded and tailored service to his/her needs with the layout, colours and format as needed. The sections displayed cover the full range of specific industries and new ones can be added with ease. The whole platform is accessible online offering 24/7 access. New features allow for automation of the workflow of the investment operations with the Wealth management firm to select the functions that need to be managed, like a hybrid robo-adviser. This further support the flexibility of the platform depending on the business and the client expectations while opening new business segments.

What would it take to make this idea a reality?

Funding and promotion.

Why is this an original idea?

It is an original idea in the sense that it provides flexibility for the firm to deploy a solution that best meets its needs at each stage and create new opportunities. For example a bank may want to utilise this platform to manage external IFAs but at the same time deliver a unique client experience through the front end.  In due time, they want to diversify their portfolios and services to be delivered to a different market and for this service a robo-advisory type of service might be more appropriate.  All these can be deployed with ease and with complete integration.

Furthermore, Profile’s experience in the FinTech industry further provides the tools to diversify through a different platform to alternative finance/ investments so as to deliver on the new set of requirements.

If you would like more information about this solution please contact jamesgoad@owenjamesgroup.com or call on +44 (0) 1483 861 334

 


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