Investec first turned to Appway to automate its client onboarding process. Now, the global wealth manager is rolling out digital banking initiatives at locations worldwide.
The next generation of wealth managers is emerging, and Investec Bank Switzerland is ahead of the pack. The firm rolled out online banking and automated its client onboarding process — opening the door to modern digital banking. The impact on the quality of its client services has been immeasurable.
David Gurtner, Head of Projects & IT discusses Investec’s Journey Towards Digitalization

The Key to Success: Happy Relationship Managers

“Creating an environment that stimulates extraordinary performance together with differentiation and integration” is a statement that incorporates some of Investec’s key philosophies. In 2011, its subsidiary – Investec Bank Switzerland – set out to create this environment for its Client Services Department. They deconstructed and rebuilt the entire process landscape around their client onboarding and implemented Appway Client Onboarding to take care of the rest. According to Stephen Brooks, Head of Client Services at Investec Bank Switzerland, “Happy Relationship Managers are crucial to providing great service to clients. Since implementing Appway, our Relationship Managers have the right tools and technology to excel at their jobs. This leads to greater work satisfaction and a more intimate yet efficient service to our clients. We are delighted with the results.”

Daily Work Simplified With Seamless Onboarding

Before Appway, Investec Bank Switzerland’s Relationship Managers spent a lot of their time processing onboarding forms from new clients, which were then passed over to the Client Services team for analyzing and data entry. This work was extremely cumbersome for both parties — a manual process involving a vast amount of paperwork. Now, Relationship Managers play a more interactive part in gathering the client data together with their clients.

Appway guides Relationship Managers through the entire Onboarding process within a single, seamless, application. Client profiling has been simplified; it is more detailed and the data is conveniently accessible at any time. “I love how Appway guides me through the process. It dramatically simplifies how I onboard new clients. Once I start profiling, I just follow the steps and I no longer get stressed about forgetting tasks or compliance requirements,” says Janine Van der Merwe, Investec Bank Switzerland Relationship Manager.

With insights and knowledge about their clients at their fingertips, Relationship Managers now have the power to deliver a differentiated and specialized level of customer service throughout the entire client lifecycle.

Improved Compliance with a Step-by-Step KYC Process

Appway has also profoundly impacted the area of compliance for the wealth manager. To perform the Know Your Customer (KYC) checks in the past, Relationship Managers had to remember tasks and activities off the top of their heads or rely on complicated task lists in Excel spreadsheets. Not surprisingly, this created a significant margin for error.

Appway customized Investec Bank Switzerland’s KYC Process with specially designed Business Rules. This ensures compliance with regulations from Swiss authorities, as well as internal policies. Additionally, activities that were problematic are now closely tracked by the system — adding a new layer of visibility and security to the whole area of compliance.

Investec Bank Switzerland’s COO and Interim CEO, Peter Gyger recognizes the direct impact that Appway is making “we now have an excellent tool that effectively manages our client data and provides our management team with deep insights into our client base. The impact on business has been extremely positive.”

Next? A High Performance Environment — for Everyone

The introduction of online banking for its clients and an automated client onboarding process with Appway has put Investec Bank Switzerland a step ahead of many of its competitors. However, the drive to improve does not end there. The Swiss wealth manager plans to roll out the new client onboarding process to its international jurisdictions such as South Africa in the near future. While improvements to the interfaces between Appway and other core systems used for archiving and banking (TCS BaNCS) are ongoing.

The steps taken by Investec Bank Switzerland to achieve process excellence are a monumental shift in the right direction. The boutique wealth manager now has the framework to create a high-performance environment for its Relationship Managers all over the world together with delivering a differentiated customer service to its clients.