Customer success story
Modernising client onboarding at a British private bank
Background
A British private bank built its reputation by serving high-net-worth clients over generations. Relationship managers gained deep insights into clients' lives to offer a truly personalised service.
However, while established clients enjoyed a premium experience, the onboarding process for new clients didn’t meet the same high standards. The bank’s strict eligibility criteria meant relationship managers had to put prospective clients through a painfully slow and manual due diligence process.
Where Xapien steps in
The challenge was gathering rich information that enabled relationship managers to better serve their clients and to ensure alignment with the bank's values. The team often spent days collecting data from intermediaries and conducting web searches before presenting it to a partner for review. Weeks could pass before the process was complete. Clients were left waiting, which reflected poorly on the bank’s prestigious reputation.
To meet the high expectations of a bank of its calibre, it needed to digitise its onboarding process and equip relationship managers with tools to automate research and generate comprehensive profiles. After evaluating several options, the bank chose Xapien.
After Xapien
Relationship managers now use Xapien to truly get to know the hundreds of new clients they welcome each year. In minutes, they can run a comprehensive search and receive a holistic profile on an individual’s background, education, career history, business associations, and philanthropic interests.
Armed with these deeper insights, relationship managers can present strong, complete profiles to partners.
Xapien has significantly accelerated the onboarding process. New clients are welcomed faster and immediately connected with a relationship manager who understands their needs from day one. This enables managers to focus on building meaningful relationships.
Most importantly, Xapien is helping the bank futureproof its reputation by blending cutting-edge technology with the personalised service it’s known for. This balance of efficiency and attention to detail allows the bank to grow its clientele without compromising on quality.
"Armed with these deeper insights, relationship managers can present strong, complete profiles to partners."
Xapien streamlines due diligence
Xapien's AI-powered research and due diligence tool goes faster than manual research and beyond traditional database checks. Fill in the form to the right to book in a 30 minute live demonstration.