In an advisory business model, a relationship manager may have to deal with hundreds of clients with diverse portfolios, as clients make their own investment choices. In this context, the continuous monitoring and analysis of volatile assets can be challenging and time-consuming, consequently raising productivity and efficiency issues.
To address these challenges, Odyssey’s ‘Client & Portfolio Monitoring’ business component is based on a powerful real-time monitoring facility, which anticipates and tracks events related to clients and their holdings. As a result, relationship managers can efficiently detect needs and opportunities, allowing them to proactively advise or inform their clients.
Event management >>>
An integral component of the monitoring function is the event-driven functionality. This can detect important events, for example, a stock falls sharply and the positions of 30 clients drop 20% compared to the acquisition price. The event-driven mechanism can monitor pre-defined events and notify users when the specific event happens.
Event management is the most effective way of anticipating needs and detecting opportunities for proactively advising and informing clients. It allows the bank to demonstrably personalise the advice or information provided to customers. It also shows customers that their own specific portfolio situation is being taken into account, in terms of both appropriateness and timing. By being able to act at any given moment and anticipate needs, the bank indicates that it is always attentive to the unique situation of each client and is ready to react in the client’s favour. Event management is also an extremely efficient way of automating legal and regulatory compliance controls.
Comprehensive Relationship Manager Cockpit >>>
Relationship managers have access to a comprehensive Cockpit that displays synthetic views of data and events that are relevant to all their clients. The Cockpit views give relationship managers instant indications of the actions to carry out for their clients, it reveals significant events happening in their client’s accounts and portfolios and provides the relevant information to communicate.
Global portfolio monitoring >>>
The global portfolio monitoring facility can calculate and display the near real-time financial situation based on the portfolio management engine of the bank. Consolidation can be performed for all the clients of the relationship manager using a top-down approach. The monitoring facility gives instant access to synthetic views of several hundred portfolios valued at current prices and exchange rates. As a replacement of paper lists, it takes relationship managers not more than 5 minutes a day to get a clear picture of all events impacting their clients portfolios (roll-over transactions, asset allocation mismatch, cash flows, significant under performance, large position gains/losses, etc) . A drilldown facility lets relationship managers change from a fully consolidated view to a position view.
Integrated Customer Knowledge Base >>>
Odyssey’s ‘Client & Portfolio monitoring’ business component has a comprehensive and integrated customer knowledge base combining client relationship and portfolio management data built in. The customer knowledge base is made available by publishing and integrating appropriate client data, contact/interaction data, portfolio management data valued intra-day and transaction data. It can be extended to include other sources of data from external systems (MIS, etc.). The customer knowledge base is not a data warehouse. It is a unique fully dynamic in-memory database that synchronises itself intra-day and includes a valuation engine. The customer knowledge base is the foundation for defining complex multi-criteria queries and creating alerts.
Multi-criteria queries >>>
The business component provides a powerful and user-friendly Multi-Criteria Query (MCQ) engine that leverages the integrated customer knowledge base. The MCQ engine is placed directly in the hands of relationship managers and assistants who can then efficiently target and analyse clients.
A query can be created from any combination of the criteria in the customer knowledge base. Portfoliorelated criteria (position gain/loss, % market value, etc) are calculated online at the time of the query. This means that the query can be run on dynamic as well as static data. Here is a typical query example: “give me all clients in segment ‘High potential’ with portfolios worth more than EUR 1m holding more than 5% of bonds having a duration higher than 5 years”.
The Multi-Criteria tool leverages client knowledge and Monitoring. It is a powerful way of analysing and tracking large numbers of clients. The Multi-criteria tool also allows relationship managers to carefully select the appropriate clients to target (advice, information, sales campaigns) and enables dynamic client segmentation.
Standard queries can be pre-defined and made available in a simple text-like form in the query library. With this approach, users can either create their own queries or reuse queries from the library.
With MCQ, relationship managers are motivated to enter and maintain client information online since they are empowered to use this information appropriately and dynamically in a high value added context.
Alert engine >>>
The business component also features an alert engine that effectively enables real-time, event-driven monitoring of thousands of clients and portfolios. The alert engine includes triggers that proactively identify situations calling for immediate advice or action. For instance, sales alerts scan for opportunities such as new cash to invest or rollover opportunities. Services alerts look for portfolios that may need rebalancing or that fall outside specified limits, such as overweighting or a risk drift overtime.
Alerts can be set on any data in the integrated customer knowledge base. Users can create one or more alerts for individual clients or groups of clients and are automatically notified when an alert is triggered. Users can create their own alerts or use centrally pre-defined alerts made available in a library of alerts.
Financial institutions can also manage centralised alerts that apply to the whole financial institution. This is particularly relevant to automate legal and regulatory compliance controls and enforce higher service quality standards.
Notification box >>>
A fully integrated notification box is available. Each user has one notification box through which realtime notification of alerts is performed. Alerts tell relationship managers which clients to call and why.
- tasks
- reminders
- newly registered web site guests
- new client orders
- sales campaign validation
- birthdays / anniversaries
- asset allocation changes
- model portfolio changes, etc.
Real-time daily outlook >>>
Like a dynamic work schedule, the real-time daily outlook continuously displays the notifications (e.g. events, alerts, etc.) and, when the Collaborative Advice & Contact Management function is used, the tasks that the relationship manager has to perform.