Client Reviews and Remediation

Ensure timely, compliant client reviews and manage remediation with confidence

PROVE DUE DILIGENCE

How can wealth managers increase the effectiveness of client reviews and reduce the burden of remediation?

Requests for remediation can arise with little or no prior warning and must be completed within regulator mandated timescales. Redeployment of resources from other essential work may be necessary, which is disruptive, can impact client satisfaction and delay revenues.

The more manual your onboarding and relationship management processes, the more likely you are to face remediation. Without automation you lack the controls, insights, audit and scheduling capabilities required to conduct periodic or risk-based client reviews effectively, and evidence that you are mitigating risk successfully.

Whether you are asked to reassess KYC/AML risk, validate suitability or confirm attitude to risk – across your entire client base or only your highest risk individuals – the business cost and impact on client service can be immense.

Client reviews wealth management

WHO BENEFITS FROM A CLM SOLUTION?

WealthTech Personas

How can Wealth Dynamix help to conduct in-life client reviews and remediation, thoroughly and cost-effectively?

Wealth management remediation

By digitising client reviews, Wealth Dynamix enables you to provide regulators with complete, real-time audits of your ongoing due diligence processes and minimise the likelihood of remediation in the future.

When client reviews are required – whether scheduled or triggered by an event – review processes are initiated, manged and audited automatically, in line with your company policy and regulatory requirements.

By orchestrating all elements of the client review and remediation process, and by having a single, consolidated, 360-view of each client, you will increase speed and efficiency. Data and documents are updated via self-service portals and automated screening is conducted using specialist KYC tools.

By streamlining internal review and approval procedures, and applying pre-defined, automated workflows that track and analyse progress, you will eliminate processing delays and ensure compliance

WHY CHOOSE WEALTH DYNAMIX?

  1. An award-winning CLM solution, purpose-built for wealth managers by WealthTech experts
  2. We pioneered the transformation of CLM processes with innovative applications of data modelling, predictive analytics and sentiment analysis
  3. Used by the world’s most successful wealth managers to achieve process efficiencies and return on investment spanning the entire client lifecycle, not only parts of it
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