Wealth Management & Kleber: Helping People Achieve Financial Freedom

At a Glance

The client, a wealth management group, found us through a web search and Australia Post in 2015. They needed software for real-time and batch validation.

They also needed software that could align with their goals of helping a diverse range of clients achieve financial freedom and independence.

Wealth Management For Everyone, Especially the Elderly

The client is a wealth management firm that offers investment, superannuation, and retirement products to both individual and corporate clients in Australia. They have been operating for more than thirty years and are one of the largest payers of retirement pensions in Australia, outside of the Government.

According to their website, they currently have close to one million members who have chosen them for their super, investments, or retirement savings. They have also consistently been named as one of the best retail super funds in the country.

The client’s goals are:

• To provide competitive fees,
• To give access to a wide range of investment opportunities from leading Australian and international managers
• To provide access to award-winning products and services
• To help their customers achieve financial freedom.

The Challenge

As a company offering investment opportunities, the client often dealt with highly sensitive data revolving finances, career and lifestyle choices, and other personal customer information.

A crucial aspect of data security is ensuring that all their stored information as well as any entered into their system would be validated. This authenticates their customer’s identity because it verifies that the address they are using exists. It also ensures that any information sent out arrives at the correct destination.

The Process

Our journey with this client began in January 2015, when they reached out to discuss Kleber and Twins. We gave them a Kleber demo and explained Twins. Our contact expressed interest in the Ultimate version, said Kleber was “great”, and that he believed our services were well within budget.

By March, they registered for a Kleber trial. We called them to quickly double check on their needs. They verified that they did need real-time and batch validation capabilities.

They expressed their plans of building their capability into a new business functionality when capturing customer addresses and verified that there would be no licencing or set up costs.

Their platform was web-based and would be used internally, by their admin staff, as well as externally, by financial advisors through the internet. One of their concerns involved protection of their Request Key on the client-side page. We discussed running GenerateTemporaryRequestKey on Kleber to make the temporary key the only key visible in the generated client-side page, and this temporary key can be used for all other Kleber calls.

They returned in September and registered for another Kleber trial and then went on to purchase a plan in November.

The Impact

Enhanced Address Validation

With Kleber’s help, the client can now verify new addresses as it enters the system. They can also validate all the other addresses that have been stored in the system. This enhanced cleansing and validation capability allows the client to stay updated and efficient in their operations.

Improved Marketing and Customer Segmentation

In March 2017, we reached out to discuss the launch of a new service within Kleber. This involved a collaboration with MoveData to provide instant reporting of customers moving homes, mover market share, rental vs owner segmentation, profile purchase decisions, and purchase timelines.

When people list their homes for sale or rent, it is a perfect indication that they may be looking to refinance, retire, and/or downsize. They may also need new insurance policies and/or have disposable income available for additional investments.

With Kleber’s capacity to provide all these insights across the entire customer database for a fixed cost, the client is empowered because they can use this information to run more targeted and purposeful marketing campaigns for their audience.