One of the largest financial services groups in the world, producing over 600m client documents per year, was managing fund transfers in each of their 200 branches with a manual, time consuming and costly process.
The FS group’s process for managing fund transfers in each of their 200 branches was a manual, time consuming and costly process.
Time savings, cost reduction per transfer and huge savings of $2,670,000 per year.
GMC Inspire Dynamic Communications (DC) was used.
The manual process was changed into a mobile, guided fund transfer experience between the financial advisor and customer.
The manual process meant that multiple documents had to be printed, several had to be filled in, data in the completed forms had to be input into the core records system and the transfer had to be completed with a manual signature.
GMC Inspire Dynamic Communications (DC) changed the manual process into a mobile, guided fund transfer experience between the financial advisor and customer.
The mobile application included the following capabilities:
• Interactive controls, check boxes, on-screen prompts
• Perform numerous data validations
• Business users author content of disclosure statement
• Digital signature integrated for authorisation
• Enabled camera for taking pictures of information e.g. ID
• Integrated multichannel delivery options for final documents
• Full data capture throughout process and feedback to core system
Delivery and results
Time savings- 1 week reduced to 15 minutes for each transfer
Cost reduction- $3-4 per transfer down to 33 cents
Huge savings- $2,670,000 per year (on 1m transfers)