FINANCIAL SERVICES

Win more business. Exceed customer expectations. Work smarter.

Work-Relay provides a unified, consistent solution that simplifies your environment and bridges people and systems.

  • Unified monitoring, measurement, control, and reporting increases visibility.
     
  • Unified resource management simplifies planning.
     
  • Unified communication and collaboration medium reduces miscommunication.
     
  • Unified framework provides consistency.
     
  • Unified database and content repository eliminate duplicate information.
     
  • Unified administration reduces duplicated administration, licensing, and training costs.

How Work-Relay helps

  • Increase visibility. Bring together people from different teams and functions along with process data from different sources so everyone has a single, central, real-time view of process/project health.
  • Eliminate Errors. Ensure process consistency, eliminate errors and problems due to lost or mishandled requests, guarantee that the same process is followed for each request.
  • Enforce policies and procedures. Enforce due diligence best practices, regulatory requirements, and internal policies across geographies and lines of business.
  • Increase accountability. Drive accountability across end-to-end processes with transparency and customized reporting, thereby minimizing the potential for fraud, errors or loss and affirming that all employees are aware of their responsibilities
  • Reduce miscommunication. Keep track of accurate information, making it always available, and making changes immediately visible

Case Study:  

CUSTOMER ONBOARDING

Objective

Reduce the cost and increase the efficiency of customer onboarding.

Challenges

  • Manual processes, complex and ever-changing regulations and repetitive due diligence requests are driving longer onboarding times and time to revenue, greater costs, higher customer dissatisfaction and non-compliance.
  • Standardize and specialize compliance globally.
  • Cut onboarding time and time to transact while enabling compliance using rules-driven processes that dynamically apply the right regulation at the right time.
  • Deliver a personalized experience with a 360-degree view of each customer and intelligent processes that guide staff through required activities based on customer, product, geography, regulation and risk rating.
  • Rapidly adapt to new regulations and risks with the rule management empowering business-level modification and extension of regulatory rules in minutes.
  • Reduce lack of transparency on the progress of onboarding for relationship managers as a result of multiple inconsistent onboarding processes within a single bank, causing repeated interactions with customers to gather the data they need.

Solutions

Increase Compliance Consistency
  • Dynamic processes automatically apply regulatory rules by country, customer type, product and risk to ensure compliance with country and product specific requirements.
  • Master customer profile delivers a 360-degree view of individuals and entities across accounts, geographies, lines of business and complex direct/indirect and parent/child relationships.
  • Dynamic rules are configured with regulatory expertise.
  • Intent-led processes guide users, automatically adjusting steps based on driver data (e.g., customer, product, geography, regulatory requirements and risk rating) and question responses.
  • Rules-driven processes automate escalations and approvals based on risks.
  • Date- and time-stamped history provides a complete audit trail of all steps taken during evaluation, including documentation and all system, rule and workflow changes.
  • Easily configured, real-time reporting dashboard and robust pre-defined reports on key operational risk metrics, including timeliness, volumes and trending deliver exceptional visibility, transparency and control.
Accelerate Onboarding and Time to Revenue
  • End-to-end workflow automation with easy, quick integration to enterprise and third party systems eliminates manual processing and repetitive document requests.
  • Global reuse of current due diligence and customer documentation presents required versus existing due diligence, ensuring consistency while minimizing transaction time.
  • Automated case creation, routing, and rules simplify and streamline front- to back-office processes.
  • Unified platform with automated SLAs and escalation prioritizes and routes due diligence activities among multiple users for timely and accurate evaluation.
  • Unified omni-channel environment makes it easy to onboard multiple customers and initiate cases across all channels and devices.
Improve Risk Assessment
  • Regulatory updates can be directly implemented, ensuring updated rulesets and versioning in minutes.
  • Reusable and extensible case and folder structures maintain all customer information for an entity’s KYC profile.
  • Consistency on a global basis – across products and jurisdictions is increased:
  • these systems give the bank a global view of each customer.
  • Automation enables banks to prove to regulators that the appropriate enforcement and controls are in place. The system reliably manages which rules apply in which instances based on the unique driver data (customer-type, product, risk, booking location).
  • The systems enable banks’ compliance experts to easily and quickly update requirements based on regulatory changes. In addition, in the case of remediation and look-backs, the systems allow for automatic case creation and routing, and reuse of the remediation work on an ongoing basis.
  • A piece of information can be captured once and once only.

MANAGE FINANCIAL EMIGRATION PROCESSES FOR FINGLOBAL, A BIDVEST COMPANY IN SOUTH AFRICA

Problem

South African company needs to manage the complex processes associated with South

Solution

Using Work-Relay, FinGlobal built a series of linked processes based around an Emigrant's account. The processes are used to automate the creation of cases, and to manage aspects of emigration related to Banking, Fee Settlement, FICA, Forex, Investment, Insurance Policies, and Tax. Many processes are triggered automatically based on conditions, and a number of ad hoc processes can be selected to run as needed.

CLIENT  REVIEW

We have complex business processes and managed

"We have complex business processes and managed to build our 100+ processes using WorkRelay. A lot of our processes are automated via WR including calling Apex, send emails, update fields, create AP/ records etc., saving our users manual intervention. Not one of our cases are created by a user. Case management is an entirely automated process using Work-Relay. It is very user friendly and easy to change, add, enhance without a developer's input."

Provide your organization a powerful work execution platform that offers exceptional speed to business value.

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