Digitized onboarding into wealth management that’s compliant, streamlined and very simple
Frequent updates to KYC, AML, FATCA and OFSI rules and investment suitability requirements make onboarding a client into wealth management challenging. New rules means new forms to complete and more data to capture, store, review and update. Multiple data entry requirements lead to errors, which create more work and embarrassing follow-up calls to clients who may look upon the brand in an unfavourable way.
Our Agency Deposits module overcomes all of this with a fully digitized in-person onboarding process that’s streamlined and very simple from both a back-office and customer experience perspective. It offers:
- real-time onboarding that is fully integrated and 100% compliant
- a frictionless user experience that increases brand engagement
- automated data tracking that ensures clients stay current with regulatory updates
- integrations with key analytics that can help build engagement and wallet share
With our Agency Deposits module, onboarding into wealth management products is a breeze, making it easy for FIs to engage this profitable sector with a best-in-class customer experience from moment one of the business relationship.
Driven by our API strategy, this module is continually innovating, with compliance, security and UX features delivered on a quarterly release schedule.
FINTRAC AML and KYC regulatory risks are reduced significantly.
Required data is collected and automatically pushed into the correct forms, eliminating data re-entry and errors.
Paperless process allows clients to fund accounts in real time with electronic transfers instead of cheques.
Electronic funding and e-signatures eliminate time delays and the need for cheques and courier fees.
ID expiry dates and CDIC insurance maximums are tracked automatically.
We chose thirdstream because they know the financial services industry and understand how FIs work. We were impressed with their service, staff and the Agency module of cumulus, which we see as the most innovative origination platform in our industry.