Building trust through accuracy with client onboarding in finance

Our Client 

This client is a financial investment company that matches company benefit programs to businesses. They help optimise their clients’ investment returns by offering financial education and guidance on areas like superannuation, health insurance, retirement planning, investments, and more.  

Lately, trips to the grocery store have been a soul-sucking (and wallet-draining) experience. If you’ve ever had to switch to a different brand or forego buying a product entirely because of inflation, then you know what we’re talking about. 

And it’s not just the cost of food and household products.  

Rising levels of household debt, the cost of housing, and our fast-paced lifestyles create the perfect recipe for burnout and poverty.  

This client recognizes the growing financial pressures facing individuals and businesses alike. In response, they offer tailored financial strategies and comprehensive benefit programs, they help businesses enhance employee satisfaction and retention, while ensuring that every dollar invested works harder in the face of economic challenges. 

The Problem 

We help this company with employee and client onboarding. They highlighted that they mostly had problems setting up superfunds and accounts because of the quality of their customer information. They had to deal with misspellings, data in the wrong fields, and more.  

Each mistake meant another round of calls, delays, and frantic attempts to make amends. This business is selling the dream of financial literacy, education, and freedom—but if they had to keep bugging their clients over small errors (even if these errors were because customers didn’t put in their information right) then it could quickly turn that dream into a nightmare.  

Constant disruptions and corrections could erode trust and diminish the customer experience, which is especially critical in the financial sector where confidence and reliability are paramount.  

To maintain their reputation as a leader in providing financial guidance and education, they needed to minimise errors at the source.  

Address Validation at Client Onboarding 

Implementing a system that could correct addresses by gently prompting the user to correct themselves, even before the addresses entered the system, would ensure accuracy from the start and streamline operations. 

We integrated the solution into Microsoft Dynamics 365. They confirmed that it substantially reduced manual labour and effortlessly validated the inefficiencies in their database system.

Highlights  

• They had issues managing their database due to lack of validation on entry.  

• They have email, phone, and address validation. 

• Implemented Kleber with MS Dynamics 365(CRM). 

• DataTools significantly improved their database efficiency.  

Data Accuracy in Client Onboarding & Financial Services

In the financial services sector, data accuracy is critical for building a foundation of trust. For companies that handle sensitive information like superannuation and retirement planning, accurate data entry is crucial to ensure clients receive the right advice and services promptly. When information like addresses, phone numbers, or email contacts are incorrect, it can delay critical communications, disrupt customer service, and undermine the credibility that financial institutions work hard to build.

By implementing a data validation solution early in the client onboarding process, financial firms can reduce the risk of errors, improve customer satisfaction, and demonstrate a commitment to professionalism.

With DataTools, your business can confidently maintain the accuracy of its records, protect its reputation, and deliver the seamless experience your customers expect.

If your business is facing similar challenges with data accuracy or if you want to enhance your client onboarding process, contact us today to learn how DataTools can provide the solutions you need to improve efficiency, build trust, and optimize your operations.