Identifying new clients remains critically important to win business in the Wealth Management Industry. Prospecting teams and Relationship Managers currently rely on personal networks, social tools (such as Facebook and LinkedIn), client referrals and a multitude of news sources to find their next client. These methods are typically cumbersome and non-systematic and only help to source an unqualified list of individuals with limited data points across a long list of individuals that needs to be researched, qualified, and understood manually.
Synechron’s Wealth Tech Accelerator for Client Prospecting enhances a bank’s ability to perform client prospecting by leveraging Big Data and Analytics to automate the process of identifying high-value leads. Existing clients identify their most profitable leads and then by using Artificial Intelligence / Data Science to cluster attributes, wealth managers can then use existing High-net Worth (HNW) and large volumes of demographic data and consumer attributes such those offered by data vendors such as Acxiom to search for similar attributes in a lead list.
HOW WE HELP
A data-driven approach to enhance quantity and quality of prospects
Synechron’s Wealth Tech Accelerator for Client Prospecting has the following features:
Data Ingestion - Provides a holistic view of prospect clients and their relationships, thus harvesting data quickly and turning it into valuable leads.
Prospecting Scoring / Matching Principle - Increasing the rate of conversion by flexible configuration options to target prospects
Machine Learning Models - Increase in prospects being converted to clients through self-learning and auto-adjusted models
Intuitive Dashboard – to search activity by Relationship Manager (RM), ingest external data, review the current asset spread, track conversation rate, modify prospecting success criteria, and take an interactive view of the current client-base by geography.
Pattern Recognition / Prospect Tracking - Tracks the conversion rate of prospects and can adjust attribute weightage for new prospects
Drives discipline around commercial outcomes - View and edit prospecting search parameters across attributes – empowering a rigorous, data-based prospecting process.
Intelligent RM Mapping - Increase the likelihood and efficiency of conversion personal profile, availability and current client base mapping
Increased Efficiency Efficiency - Reduced time on prospecting by engaging only on high-quality leads
Fully-monetized Third-party Data - Ability to extract full value
To learn more about Synechron’s Wealth Tech Accelerator for Client Prospecting and the work we’re doing email us at firstname.lastname@example.org