For the wealth management industry, managing client lifecycles is a bread-and-butter duty that tests the rigour of a bank’s infrastructure and processes. Few have in place a lifecycle management process that effectively drives up efficiencies, controls risk, and activates personalised opportunities for servicing clients. Indeed, compliance hurdles, complexities around customer asset holdings, and incompatibility between booking centres have made it difficult for banks to keep accurate tabs in a timely fashion and to maximise client interaction. To address these issues, Wealth Dynamix and Microsoft Dynamics 365 brought their client lifecycle management solution, WDX One, to Asia in 2018, to equip RMs with the tools they need to keep close with clients throughout the entire customer journey.

From prospecting and onboarding to managing and servicing across various stages of a client’s investment roadmap, the platform is as intelligent as it is user-friendly. As soon as a client is onboarded, WDX One’s back end integrates data collected during the client conversion process to the newly onboarded client’s account, allowing for reduced manual input and increased time and cost efficiencies. Meanwhile, AI tools developed by Microsoft provide client relationship analytics and advice, empowering RMs with views on the health of their client relationships and recommendations on the ‘next best actions’ to take.

As WDX One operates on the Microsoft Dynamics 365 platform, it is also naturally compatible with Microsoft’s productivity software, enabling RMs to easily transpose data to and from the system without having to worry about data issues due to improper formatting. This ‘orchestration’ ability of the system extends to its open API infrastructure, which allows wealth managers to seamlessly integrate existing core systems and external fintech solutions to fit their unique and varied needs.

The robustness of WDX One is clearly evidenced by its enviable global track record. Thus far, it has achieved a 95% user adoption rate, while for one large institution, account opening was reduced from nearly a month to a single day.

For its ability to greatly reduce the time-consuming minutiae of client lifecycle management while providing AI-driven solutions to drive up front office productivity, it is no surprise that WDX One has already gained traction in the region, having already signed up a large private bank in its inaugural year.

Jointly, Wealth Dynamix and Microsoft Dynamics 365 are the winners at Asian Private Banker’s Best Integrated Front Office Solution award for 2018.