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KNOVA for Wealth Management
Optimizing Service Delivery for Private Banking
and High Net Worth Clients |
90% of service requests-confirmations, balance inquiries and so on-can be handled quickly by transactional systems on advisor desktops and in contact centers. But the remaining 10% of issues are more complex. These more involved requests drive customer service costs-and offer the most opportunity for increased loyalty. What makes these complex issues difficult to resolve?
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Key Benefits |
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Consistent Cross Channel Service
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Improved Customer Loyalty, Profitability
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Reduced Service Delivery Costs
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- Products and services are complex and dynamic. Customers have questions about an ever-increasing array of complicated financial offerings. New promotions are introduced and modified. The regulatory landscape is ever- changing. Mergers fundamentally change product portfolios.
- Content is in multiple silos. Financial advisors, relationship managers and service professionals need quick access to market data and news, customer records, regulatory information, product and promotions details, policies, tools and applications and more. Unfortunately, information is managed in different systems so advisors simply don't have timely, integrated access to all the information they need.
- Multiple contact points hinder consistency. Customers may request service by phone, email, Web form or in-person; they may contact a dedicated advisor, a member of their extended team, the contact center, or the Web site. This makes it difficult to resolve issues consistently.
- Knowledge transfer is unsupported. Each advisor should be able to leverage the full knowledge of the institution. But disparate and limited point technologies make it hard to find the right experts, to collaborate with them in a secure and managed environment and to capture expertise for later reuse.
- Customer expectations are high and increasing. High net-worth customers in particular demand more responsive and better informed service because their experiences with other service providers lead them to expect it. If they're delighted with the service they receive, they're more likely to stay loyal, increase share of wallet and be more profitable. If not, they're ready to defect to a competitor.
Investments in CRM have done little to ease the burden of delivering complex advisory services. That's where KNOVA comes in.
Consistent Service Across Channels
KNOVA provides applications for advisors, relationship managers, help desk staff and customers themselves to resolve even complex service issues with a single knowledge management infrastructure. So no matter how customers request service, the resolution process will be consistent and personalized for each customer.
Optimizing Each Service Experience
KNOVA's Resolution Engine™ guides users through an optimized resolution process. KNOVA uses information from the CRM system to drive business process scripting to automate repetitive tasks and ensure consistent handling of specific requests. KNOVA's Wealth Management Solution comes out-of-the-box with business rules that can be customized to clients' specific needs. And, precisely targeted offers and promotions can be delivered during the service process.
A Knowledge Platform for Integrated Access to Content and Systems
Delivering great customer service requires that all relevant information be immediately accessible, even when it might be stored in a wide range of systems, formats and applications. KNOVA's patented knowledge management platform automatically classifies and organizes content from across the enterprise and beyond, leveraging a pre-built financial services ontology to deliver knowledge in the context of wealth management. This means that news, analysis, policies, regulatory information, promotions, product information and more are all at the advisor's-or customer's-fingertips.
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KNOVA for Wealth Management — Key Features and Benefits |
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| Universal Content Indexing and Retrieval |
Streamline research and advisory services via a single access point for information |
| Resolution Flows Optimized for Wealth Management |
Automate repetitive client service tasks with knowledge and scripting |
| Collaboration and Knowledge Authoring |
Leverage the right expertise from across the enterprise, and easily capture and reuse that knowledge |
| Integrated Self-Service |
Reduce incoming service volume and increase customer satisfaction with an effective automated service channel
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| Comprehensive Service Resolution Analytics |
Pinpoint areas of customer interest for cross-selling and measure the effectiveness of targeted offers |
| Pre-Packaged Connectors |
Connect out-of-the box to leading CRM systems — including Siebel and Amdocs — to greatly reduce risk and expense of implementation and
maintenance |
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U.S. Patent No. 6,980,984 , No. 6,711,585 and No. 5,787,234. Other Patents Pending
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