KeeSystem, the FinTech based in Monaco, makes its latest white paper available to readers, and on the occasion of this release, presents in this article how to transform compliance data into development opportunities.

In an environment characterized by low interest rates, pressure on margins and rising costs linked to regulatory requirements, Fintech’s innovations offer great development opportunities for market players who are quick to anticipate future developments.

Independent asset managers have always shown agility in adapting to changes in the private banking business, focusing in particular on the client experience and the personalization of their services.

In order to preserve their time and resources for the benefit of clients, they have understood the need to improve the efficiency of their core business activities (portfolio management, reporting-consolidation, risk management, etc.) by adopting the necessary technological tools.

Encouraging the acquisition of new clients

However,these productivity gains do not solve the essential needs of acquiring new customers and growing revenues. The choices are well known: develop revenues from existing customers by increasing the share of wallet or selling additional or more profitable services, and acquire new customers through existing or new managers.

Innovative tools are now making it possible to improve sales efficiency by transforming the way managers generate sales leads that are relevant to AML needs, commercially robust with proven asset management potential.

There are multiple products available to manage the different components of the business (CRM, Compliance, Portfolio Management, Trading, Reporting & Consolidation, etc.), whether they are global solutions or more specialized offerings integrated with managers’ information systems. Whichever solution(s) is chosen, it is important that they are interconnected so that they do not operate in silos in order to make the best use of the data.

Using KYC and AML data to create new development opportunities

Indeed, managers collect a lot of data, especially in the context of onboarding and monitoring of customers from a KYC and AML perspective. Despite technological advances in KYC research, onboarding remains a manual and time-consuming task necessary to meet regulatory requirements and better serve clients through better knowledge of their profile, history, financial personality, convictions, wealth objectives, etc.

This KYC & AML data has a value that is often under-exploited commercially, not to mention the need to monetize the cost of this data in terms of collection, management, storage and protection.

The team of KeeSystem has formalized 4 strategies based on KYC and AML data to identify opportunities for new client acquisition.

In this document, the reader discovers :

  • How to map the global ecosystem of your customers to identify opportunities
  • Why identify connections between the natural and legal persons informed
  • How to use client philanthropic data
  • How to highlight multiple entry points for the same prospect who are the prospects you can be easily referred/recommended to

If you would like to know more, you can request a free copy by clicking here.