Some of the key findings of the report were, reduced time to onboard investors by 90 percent, increased margin per customer by 10 percent, payback period of 19 months, and an ROI of 225 percent over four years.
FREMONT, CA: Technology for workflow automation in financial services leader Appway released the results of the study 'The Total Economic Impact of Appway Client Onboarding for Wealth Management' conducted by Forrester Consulting. Appway commissioned Forrester to examine real deployments of Appway's Onboarding for Wealth Management Solution from all relevant angles, costs to deploy, benefits achieved, return on investment, to quantify the effectiveness of automating client onboarding with Appway.
"Average onboarding times fell from 45 days to 5-6 days, freeing up resources so we are able to grow faster," stated the CEO of a global bank. According to Forrester's findings, the examined wealth management firms and private banks saw a significant increase in margin per customer, improved customer conversion, and substantially higher compliance and back-office efficiencies.
As Forrester demonstrated, automating client onboarding with Appway creates a solid business case. "We believe The Forrester Total Economic Impact™ study is an important validation that wealth managers massively benefit from automating their client onboarding processes and demonstrates that investing into improving customer experience creates a significant quantitative impact on their bottom lines," says Hans Peter Wolf, CEO and Founder of Appway.
Some of the key findings of the report were, reduced time to onboard investors by 90 percent, increased margin per customer by 10 percent, payback period of 19 months, and an ROI of 225 percent over four years. Appway is headquartered in Switzerland and has offices at key hubs of finance and technology around the globe. The company designs software that facilitates the digital transformation of customer-focused financial services organizations. Industry-leading institutions, including Credit Suisse, HSBC, Deutsche Bank, J.P. Morgan, LPL Financial, and LGT, trust Appway's award-winning software suite to support the digitization, automation, and acceleration of core business processes, such as the onboarding of new clients, management of changing client circumstances, and regulatory reviews.