“Appway was able to deliver a wealth management-specific CRM system including onboarding process. Speed and quality was crucial to us, and Appway delivered.”Thomas Fedier CEO, VT Wealth Management
10 weeksThe solution was fully implemented in just 10 weeks: On time and within budget.
100% user acceptanceEmployees were completely satisfied, as demonstrated by rapid and complete user acceptance.
After a legal separation with Vontobel Holding, VT Wealth Management realized that it urgently needed to replace its existing account opening and CRM solution before its access to customer data would be restricted. The wealth manager turned to Appway Client Onboarding to resolve the issue fast. The institution originally chose Appway’s industry-leading solution for its ability to adapt quickly to the existing processes. After a successful implementation, the solution quickly began to exeed expectations.
VT Wealth Management AG sought an integrated solution to meet their CRM needs, as well as a streamlined client onboarding process that was tailored to the wealth management industry. Their goals were to replace the existing system without sacrificing functionality as well as adapting the solution to their existing process. The entire project – from adaptation, to integration and migration – had to be completed within the 3-month deadline and wealth manager needed to be able to make changes in the process or the user interface with very little effort.
Appway Client Onboarding seamlessly combines operational CRM into the fully automated client lifecycle. The smooth and user-friendly business solution serves institutions large and small across the financial services industry to boost efficiency and guarantee compliance.
Using Appway Client Onboarding with a template specific to the wealth management industry, VT Wealth Management is able to manage the entire client lifecycle. The easy-to-use web-based solution gives the institution the power to manage contacts, prospects, and clients in the operational CRM system with a 360-degree client overview. The solution gives VT Wealth Management the tools to guarantee a seamless onboarding experience for relationship managers and clients alike.
VT Wealth Management uses all services and account types in the onboarding process, including discretionary mandates such as managing custodians and applying various fees. The system requests only the required information and forms are pre-populated with information already provided. Forms are automatically generated and then automatically routed for electronic approvals. The integration of KYC, name matching and a full change history has made it unnecessary to change between different systems. It also gives compliance and auditing teams appropriate access to their tasks.
After implemented Appway Client Onboarding, VT Wealth Management began to see and feel benefits almost immediately. The full solution was implemented in a record time of just 10 weeks, including a customized client onboarding process and CRM system, as well as full migration from the existing Bosch-SI CRM system. The wealth manager can now manage customers in-house within one system, which has significantly reduced IT complexity and maintenance effort.
VT Wealth Management also saw high user acceptance rates, since it stayed true to the institution’s existing process while making it simpler. The new, fully automated client onboarding process saves the institution and its employees time and ensures that customer data quality remains high.
Where approvals were once manual and paper-based, they are now all electronic, standardizing processes and giving management more control and oversight.
The solution also guarantees full compliance and makes sure the company is adhering to policies and access rights.
The Future of VT Wealth Manager
Management at the institution estimated that their investment would pay off completely within 6 months. But the continued success and benefits of VT Wealth Management’s business transformation will continue to unfold.