This Platform Helps Wealth Firms Retain Their Investors
Rahul Kalvapalle — November 5, 2021 — Business
References: appway & wealthprofessional
Appway has launched an innovative new client onboarding platform that is specifically targeted towards wealth firms and private banks in Canada that are looking for a better way to go about not only onboarding investors and clients, but helping to maintain and manage their accounts seamlessly.
Designed to achieve full compliance with Canadian federal and provincial regulations, the 'Client Onboarding for Wealth' solution is situated fully in the Cloud and aims to make it easier to lure and retain investors. It does this by offering streamlined workflows for processes such as opening accounts, while helping investors to reduce the costs associated with acquiring clients. All of this is designed to translate into improved profit margins.
While similar solutions exist for the American market, the advent of a client onboarding platform designed to fit the specific market considerations and regulatory environment of the Canadian financial services industry is a welcome move for Canada's wealth management and investment firms.
Image Credit: Appway
Designed to achieve full compliance with Canadian federal and provincial regulations, the 'Client Onboarding for Wealth' solution is situated fully in the Cloud and aims to make it easier to lure and retain investors. It does this by offering streamlined workflows for processes such as opening accounts, while helping investors to reduce the costs associated with acquiring clients. All of this is designed to translate into improved profit margins.
While similar solutions exist for the American market, the advent of a client onboarding platform designed to fit the specific market considerations and regulatory environment of the Canadian financial services industry is a welcome move for Canada's wealth management and investment firms.
Image Credit: Appway
Trend Themes
1. Client Onboarding for Wealth - Appway has launched a client onboarding platform specifically for wealth firms in Canada to retain investors, potentially creating an opportunity for other regions around the world to follow suit and develop similar platforms.
2. Cloud-based Compliance - Appway's platform prioritizes compliance with Canadian regulations and situated fully in the cloud, highlighting an opportunity for other industries to harness the power of cloud computing for regulatory purposes.
3. Streamlined Processes - The platform's streamlined workflows for opening accounts could spark a trend in other sectors of the financial industry to simplify operations and optimize client experiences.
Industry Implications
1. Wealth Management - Appway's onboarding platform is specifically aimed at the wealth management industry in Canada, creating an opportunity for this industry to adopt similar platforms to improve their client onboarding process.
2. Financial Technology - Appway's innovative client onboarding platform is an example of how the fintech industry in general can leverage technology to provide more efficient and cost-effective client services.
3. Compliance - Appway's emphasis on compliance within its platform can serve as a model for other industries that require compliance with regulations, such as healthcare or government, to improve their own processes.
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