END-TO-END INTEGRATION :
THE KEY FOR A SUCCESSFUL WEALTH MANAGEMENT FIRM IN A COMPLEX FINANCIAL WORLD
- Nick Jackson, Jasmina Hazuria and Abid Ali
Published: 16 February 2021
Over time, financial institutions have built a complex web of systems intertwined to meet various business problems. Wealth management firms are no exception to this rule and often, front, middle and back-office systems overlap and even duplicate capabilities. The lack of full end-to-end integration across these systems does not allow organizations to provide a holistic digital experience to request stakeholders. Additionally, the organizations cannot efficiently manage an end-to-end process. These deficiencies have led to manual workarounds, which reduce straight-through processing (STP) and increase the organization’s probabilities of errors.
In addition, workarounds are often not properly documented, and knowledge tends to sit with a limited number of employees, creating operational risks for organizations. All these elements of reality inevitably lead to poor client and employee experience.