Optimizing Initial Investment Onboarding Efficiency and Compliance Automation Choose Instabase for Wealth Management Automation

Intelligent automation of wealth management processes leads to cost reduction, better compliance, and a better customer experience. Here’s how.

To create competitive advantage and differentiation in a highly contested financial arena, organizations handling investment and wealth management processes need to optimize operational costs and risks without any negative impact to an elite customer experience. 

This includes Investor Services and Fund Services providers and administrators, Asset and Investment Managers, as well as Private banks and Wealth management firms, all of whom need to efficiently facilitate the investing of capital for their clients. Customer expectations and regulatory requirements compel these organizations to seek ways to speed up the onboarding process, automate compliance, and reduce manual processes  – all while maintaining a great customer offering.

In each of these cases, intelligent automation of investment and wealth management processes holds the keys to success.

Optimizing Initial Investment

The first investment a new investor makes with an asset manager includes cumbersome paperwork in the form of semi-structured documents. These documents typically include information about the investor as well as the terms and conditions of the investment pledge. For new funds, there is also a document-intensive fund-onboarding process.

Asset managers and investor services providers have faced increased pressure in recent years to offer speed and transparency and a great customer experience, while simultaneously reducing operational costs and risk. It is quite challenging to achieve this delicate balance using tedious manual processes for handling onboarding and initial subscription documents.

Instabase, the Automation Platform for Unstructured Data, leverages state-of-the-art deep learning models to gain an understanding of the documents obtained during these initial fund investments. Instabase is able to achieve a high degree of accuracy in extracting and organizing critical data from semi-structured investment documents, initial subscriptions, fund prospectuses, and many more. 

Instabase can be easily adapted to suit the needs of specific investment or fund administration journeys. The net result is a dramatic reduction (often from weeks or months to days) in the time it takes to facilitate initial investments and develop new solutions.

Onboarding Efficiency and Compliance Automation

The onboarding process in asset and wealth management is a highly complex process – far more so than it is in retail banking. There is a greater emphasis on client verification and demonstrated ownership of assets. Therefore, asset managers receive volumes of semi-structured and unstructured documents, such as broker statements, bank statements, asset valuations, gift certificates, share certificates, pay stubs, and more. 

Unstructured data trapped within these complex documents need to be extracted, validated, and then passed on to downstream systems for further analysis and processing. The process needs to be done at scale on huge volumes of documents and data, in a time-sensitive manner,  while still maintaining strict compliance with regulatory requirements. Reducing manual processes is important to scale the investment business without a significant impact on operational costs.

Instabase is uniquely equipped to meet the needs of asset managers. It provides access to prebuilt apps for common documents such as passports, driver’s licenses, tax documents, proofs of address forms, and others, while also supporting multiple languages.

Leveraging APIs, you can integrate Instabase into existing workflows. The result is automated document handling with a high degree of speed and accuracy – enabling the low-cost scalability you want.

Choose Instabase for Wealth Management Automation

These asset and wealth management use cases demonstrate the power of automation achieved through Instabase intelligent automation. Leveraging deep learning, investment firms can enhance the client experience with fast onboarding and handling of initial investments, all while reducing manual processes and maintaining compliance.

There are many other great use cases for Instabase in the financial sector. To learn more about how intelligent automation with Instabase can help your firm, download The Big Book of FSI Use Cases.

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