Efficiently delivering enhanced customer service
The Private Banks of today face the same challenges. How are important clients acquired and retained? How should they be segmented and made more profitable? How can you improve Know Your Customers practice (KYC) and implement cost-effective anti-money laundering processes (AML)? How should you react to an increasing trend toward advice driven clients? How can service standards be pushed even higher? How can you react more quickly or become more proactive? How do you increase the efficiency and productivity of your relationship managers?
In line with current strategic direction and an everchanging market environment, the emphasis has shifted to increase the focus of relationship managers on clients rather than products. With a better understanding of the clients, their investment patterns, objectives and desired returns, the bank is in a better position to proactively identify and make use of the opportunities presented by the customer.
The modern private client demands a new way of working. Their greater understanding of the market and desire to make thei r own investment decisions means they require a service that assists them in their investment choices and includes closer communication with their bank through a variety of channels.
Relationship managers are at the heart of the private banking/wealth management value chain. Revenue and profit growth largely depend on their ability to – retain existing clients through outstanding advice and service quality, - acquire new clients - and sell products.
The key to success is to empower relationship managers who have face-to-face contact with the client with the necessary tools to meet these objectives. At the same time, they need the means to manage a larger number of diverse client types while ensuring that client individuality is respected and a high-quality service is provided.
Odyssey’s Relationship Manager Workstation is a fully integrated platform designed specifically to empower the relationship managers serving private high net worth (HNW) and affluent clients. The workstation features a combination of portfolio management, client relationship management, compliance and advisory functions that support most of the daily business activities of relationship managers.
The broad range of functions and rich database are accessed through a browser-based web user interface. Designed with greatest care, the web user interface is easy to use and ensures an excellent usage rate of the functions without any expert knowledge.
Odyssey’s Relationship Manager Workstation fully combines functions
of the Odyssey Component Suite (OCS) appropriate for relationship managers.