Business Benefits
Our rules engines and workflows simultaneously reduce both compliance risk and the cost of compliance.
Wealth Dynamix solutions allow firms to reduce compliance risk whilst simultaneously making major gains in efficiency.
At Wealth Dynamix, we understand that compliance is not an option, it’s a necessity. For many firms, however, meeting their compliance obligation efficiently and cost-effectively remains a major challenge and one that is putting increased pressure on already tight profit margins. It’s exactly the sort of challenge Wealth Dynamix’s CLM solutions have been designed to solve.
At Wealth Dynamix, our approach to compliance is one of compliance by design. Compliance should be built into the solution from the ground up, rather than layer on as an afterthought. Here are just a few of the ways in which this philosophy is reflected within our solutions:
By digitising compliance rules, automating ongoing monitoring and escalating exceptions for review, Wealth Dynamix solutions allow firms to reduce compliance risk whilst simultaneously making major gains in efficiency. Not only does this reduce strain on the existing compliance team allowing them to operate more effectively, but it also allows that same team to scale more easily to service a number volume of clients as the business grows.
It is not enough simply to be compliant; firms need to be able to actively demonstrate that they are compliant. Wealth Dynamix’s solutions are designed to allow you to do just that, with an automatically generated audit of compliance checks and compliance-related activities, accessible on demand directly from within the solution.
The compliance landscape is not a static one. Existing regulations are updated and new regulations are introduced. Additionally, a business itself may evolve over time, targeting new segments of clients, offering new products and services, or operating in new regions. For all these reasons, Wealth Dynamix’s solutions are designed to support the rapid revision and extension of their compliance rulesets and applications. It’s one of the many reasons we’ve been able to support such a wide variety of firms in so many different jurisdictions.
Our compliance solutions allow firms to cover a wide set of compliance requirements within a single solution including:
Wealth Dynamix solutions also provide the option for customer data and documents to be gathered via customer-facing digital tools, reducing the internal overhead associated with gathering the full scope of data and documents that can be required to satisfy a firm’s compliance obligations.
Wealth Dynamix compliance solutions are truly intelligent, understanding what checks need to be conducted against a given record in a given scenario. The solution understands where the scope of KYC data or document collection might need to vary, or where suitability assessment may not be required due to the client categorisation, or where an escalation is required due to exceeding a particular risk threshold.
The solution provides a real-time view of compliance; of compliance checks against a given record, or compliance activity across an entire team, or trends and insights. With Wealth Dynamix, the ability to actively monitor in real-time helps businesses to be confident that they are always one step ahead.
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There may be many ways in which a wealth management business ensures the digital functionality of its hybrid model is compliant. In this article, we will focus on three features that should be embedded in the hybrid model solution to ensure greater compliance with regulatory requirements.
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Wealth Dynamix, a leading provider of Client Lifecycle Management solutions, today announced Wealth Dynamix is available on Temenos Exchange, the partner ecosystem of integrated fintech solutions.
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Wealth Dynamix is a global Client Lifecycle Management technology provider for the wealth and asset management industries.