Onboarding complex funds made simple
How HSBC simplified a complex fund onboarding process and turned it into a growth opportunity.
New clients are often subjected to lots of repetitive, time consuming requests which can result in a negative customer experience. The handling of onboarding requests is largely done through manual paper-based processes that carry a high risk of data error.
Onboarding requires lots of data points, in multiple formats. Data needs are constantly changing depending on the type of accounts being opened. It also involves multiple teams and disparate systems across the entire business. Each of these teams will then also hold the data in different ways and in different formats.
Xceptor automatically captures and transforms data, and this leads to processes being overhauled and optimised. Reference data can now determine the workflow of the onboarding process as well as what documents are required. Intelligent automation means inline data validation provides immediate feedback to clients on any issues.